Investors Buy Large Volume of First Majestic Silver Call Options (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) saw some unusual options trading on Thursday. Investors acquired 18,308 call options on the company. This represents an increase of 63% compared to the typical volume of 11,203 call options.

First Majestic Silver Price Performance

AG stock traded up $0.30 during mid-day trading on Thursday, reaching $5.88. The company’s stock had a trading volume of 8,659,920 shares, compared to its average volume of 7,475,704. The company has a quick ratio of 2.04, a current ratio of 2.57 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $4.89 and its two-hundred day moving average is $5.28. First Majestic Silver has a fifty-two week low of $4.17 and a fifty-two week high of $8.07.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $136.95 million for the quarter. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. During the same period in the previous year, the firm earned ($0.07) EPS. On average, sell-side analysts expect that First Majestic Silver will post -0.06 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be paid a $0.0048 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently -4.17%.

Institutional Trading of First Majestic Silver

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of First Majestic Silver by 5,383.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock valued at $63,000 after purchasing an additional 4,737 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in First Majestic Silver by 52.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 46,051 shares of the mining company’s stock worth $606,000 after buying an additional 15,787 shares during the period. Citigroup Inc. bought a new position in shares of First Majestic Silver in the first quarter worth $87,000. Dimensional Fund Advisors LP grew its position in First Majestic Silver by 127.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company’s stock valued at $17,408,000 after acquiring an additional 740,867 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of First Majestic Silver during the first quarter valued at about $142,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AG has been the subject of a number of research analyst reports. StockNews.com raised First Majestic Silver to a “sell” rating in a report on Monday, February 26th. HC Wainwright cut their target price on First Majestic Silver from $12.00 to $6.75 and set a “buy” rating on the stock in a research note on Friday, January 19th.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine that consists of 119 individual concessions covering an area of 71,839 hectares located in Durango and Sinaloa States, México; the Santa Elena comprising 32 individual concessions that covers an area of 102,172 hectares located in Sonora State, México; and the La Encantada consists of 22 exploitation concessions covering an area of 4,076 hectares located in Coahuila State, México.