First Majestic Silver (NYSE:AG) Sets New 1-Year High – Here’s What Happened

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) hit a new 52-week high on Monday . The company traded as high as $17.91 and last traded at $17.4530, with a volume of 6858804 shares changing hands. The stock had previously closed at $16.69.

Analysts Set New Price Targets

Several equities analysts have commented on AG shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. HC Wainwright set a $17.50 price objective on shares of First Majestic Silver in a report on Friday, October 10th. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. Scotiabank upped 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 report on Thursday, October 23rd. Finally, TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Trading Down 1.3%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The company’s 50 day moving average is $13.74 and its 200 day moving average is $10.99. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 122.57 and a beta of 0.84.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The company had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 95.3% compared to the same quarter last year. On average, research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.0052 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.02 annualized dividend and a yield of 0.1%. First Majestic Silver’s payout ratio is currently 14.29%.

Institutional Trading of First Majestic Silver

Institutional investors have recently modified their holdings of the company. Bogart Wealth LLC acquired a new position in shares of First Majestic Silver in the third quarter valued at $28,000. AlphaQuest LLC bought a new stake in First Majestic Silver in the 1st quarter valued at $29,000. Sound Income Strategies LLC raised its stake in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares in the last quarter. CWM LLC raised its stake in shares of First Majestic Silver by 57.2% in the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after buying an additional 1,860 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of First Majestic Silver by 33.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after acquiring an additional 971 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.