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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of unusually large options trading on Friday. Traders acquired 95,702 call options on the stock. This represents an increase of 62% compared to the typical volume of 58,929 call options.

First Majestic Silver Stock Performance

NYSE AG traded up $1.65 during midday trading on Friday, hitting $15.16. The company had a trading volume of 19,517,410 shares, compared to its average volume of 20,851,598. The firm has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $9.72. First Majestic Silver has a fifty-two week low of $5.09 and a fifty-two week high of $15.69. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of -1,514.09 and a beta of 0.79.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The company had revenue of $285.10 million during the quarter, compared to the consensus estimate of $429.78 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The firm’s quarterly revenue was up 95.3% on a year-over-year basis. Equities analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.0052 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is 14.29%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AG. Dynamic Technology Lab Private Ltd raised its stake in shares of First Majestic Silver by 66.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company’s stock valued at $675,000 after buying an additional 40,228 shares in the last quarter. Capital Management Associates Inc bought a new stake in First Majestic Silver in the second quarter valued at about $333,000. Bayforest Capital Ltd raised its position in First Majestic Silver by 1,978.6% in the first quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock worth $1,431,000 after purchasing an additional 203,555 shares in the last quarter. DJE Kapital AG acquired a new position in First Majestic Silver in the second quarter worth about $5,615,000. Finally, Marotta Asset Management bought a new position in First Majestic Silver during the second quarter worth about $633,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Scotiabank lifted their price target on shares of First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. HC Wainwright set a $17.50 target price on shares of First Majestic Silver in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. National Bankshares set a $22.00 price target on shares of First Majestic Silver and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.33.

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 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.