First Majestic Silver (NYSE:AG) Price Target Cut to $25.00 by Analysts at HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR) had its price objective reduced by HC Wainwright from $25.50 to $25.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the mining company’s stock.

Several other research firms have also issued reports on AG. Scotiabank dropped their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Zacks Research lowered shares of First Majestic Silver from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Finally, Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.75.

First Majestic Silver Trading Up 1.8%

Shares of NYSE:AG traded up $0.27 during trading on Friday, reaching $15.16. 11,628,804 shares of the stock were exchanged, compared to its average volume of 9,689,074. The firm’s 50-day moving average price is $17.63 and its 200 day moving average price is $19.86. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 18.95 and a beta of 0.98. First Majestic Silver has a 12-month low of $10.72 and a 12-month high of $32.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, November 5th. The mining company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $394.10 million for the quarter, compared to analyst estimates of $390.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. On average, sell-side analysts anticipate that First Majestic Silver will post 0.80 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a $0.0142 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. This is a drop from First Majestic Silver’s previous quarterly dividend of $0.0152. First Majestic Silver’s dividend payout ratio (DPR) is currently 8.45%.

Institutional Trading of First Majestic Silver

Several large investors have recently bought and sold shares of AG. Moors & Cabot Inc. lifted its position in shares of First Majestic Silver by 4.5% during the third quarter. Moors & Cabot Inc. now owns 26,620 shares of the mining company’s stock worth $471,000 after purchasing an additional 1,150 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of First Majestic Silver by 14.8% in the third quarter. Russell Investments Group Ltd. now owns 60,317 shares of the mining company’s stock valued at $1,070,000 after purchasing an additional 7,774 shares during the period. Euro Pacific Asset Management LLC grew its holdings in First Majestic Silver by 21.6% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 70,904 shares of the mining company’s stock valued at $1,254,000 after purchasing an additional 12,571 shares in the last quarter. StoneX Group Inc. acquired a new stake in First Majestic Silver during the 3rd quarter valued at $250,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in First Majestic Silver during the 3rd quarter worth $1,884,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver and gold. The company operates producing mines in Mexico and the United States and sells silver bullion and related products through its in-house First Mint division.

First Majestic’s Mexican operations include the San Dimas Silver/Gold Mine in Durango, the Santa Elena Silver/Gold Mine in Sonora, and the La Encantada Silver Mine in Coahuila. The company also owns the Jerritt Canyon Gold Mine in Nevada, although operations there have been suspended while First Majestic evaluates its future.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its growth strategy on acquiring and developing precious-metals assets in the Americas.