First Majestic Silver (TSE:AG) Stock Falls 5.8% – Should You Sell?

First Majestic Silver Corp. (TSE:AG)’s stock price traded down 5.8% during mid-day trading on Tuesday. The stock traded as low as C$23.14 and last traded at C$23.22. Approximately 1,860,248 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 1,879,485 shares. The stock had previously closed at C$24.64.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$36.00 to C$37.00 in a research note on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, First Majestic Silver currently has an average rating of “Moderate Buy” and an average price target of C$36.00.

First Majestic Silver Stock Up 5.0%

The company has a 50-day moving average price of C$26.84 and a 200-day moving average price of C$26.49. The firm has a market capitalization of C$11.24 billion, a price-to-earnings ratio of 32.56 and a beta of 2.86.

First Majestic Silver (TSE:AG) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.30 earnings per share for the quarter. The company had revenue of C$590.33 million during the quarter. First Majestic Silver had a net margin of 21.09% and a return on equity of 12.27%. As a group, analysts forecast that First Majestic Silver Corp. will post 0.46 earnings per share for the current year.

First Majestic Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 31st were given a dividend of $0.0152 per share. The ex-dividend date was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. First Majestic Silver’s payout ratio is currently 5.06%.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.