First Majestic Silver (NYSE:AG) Shares Gap Down to $6.85

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down before the market opened on Tuesday . The stock had previously closed at $6.85, but opened at $6.56. First Majestic Silver shares last traded at $6.72, with a volume of 2,386,049 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AG. HC Wainwright increased their price objective on shares of First Majestic Silver from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a research note on Monday, February 26th.

First Majestic Silver Trading Down 1.6 %

The stock’s fifty day simple moving average is $5.99 and its 200-day simple moving average is $5.58. The firm has a market cap of $1.94 billion, a PE ratio of -14.02 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $136.95 million during 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 prior year, the business posted ($0.07) EPS. On average, sell-side analysts forecast that First Majestic Silver Corp. will post -0.01 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Wednesday, March 13th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -4.17%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. CWM LLC increased its holdings in First Majestic Silver by 59.7% in the third quarter. CWM LLC now owns 5,433 shares of the mining company’s stock valued at $28,000 after buying an additional 2,030 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at about $43,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Majestic Silver in the first quarter valued at about $48,000. Capstone Investment Advisors LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at about $69,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of First Majestic Silver in the third quarter valued at about $77,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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 covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.