First Majestic Silver Corp. (NYSE:AG) Plans Dividend Increase – $0.01 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Friday, February 27th will be paid a dividend of 0.0083 per share by the mining company on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, February 27th. This is a 59.6% increase from First Majestic Silver’s previous quarterly dividend of $0.0052.

First Majestic Silver has a payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Analysts expect First Majestic Silver to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 2.5%.

First Majestic Silver Price Performance

NYSE AG traded up $2.19 on Thursday, reaching $24.79. The company’s stock had a trading volume of 29,013,892 shares, compared to its average volume of 28,112,518. First Majestic Silver has a twelve month low of $5.09 and a twelve month high of $27.90. 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 firm’s 50 day moving average is $20.12 and its two-hundred day moving average is $14.55. The stock has a market cap of $12.22 billion, a PE ratio of 177.07 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The business had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 169.2% on a year-over-year basis. As a group, sell-side analysts predict that First Majestic Silver will post 0.54 EPS for the current year.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds have recently bought and sold shares of the business. Lodestone Wealth Management LLC purchased a new position in First Majestic Silver during the 4th quarter valued at about $25,000. EFG International AG purchased a new stake in shares of First Majestic Silver in the fourth quarter worth approximately $25,000. Bogart Wealth LLC acquired a new stake in shares of First Majestic Silver during the third quarter worth approximately $28,000. Spire Wealth Management purchased a new position in First Majestic Silver during the fourth quarter valued at approximately $35,000. Finally, Sound Income Strategies LLC grew its position in First Majestic Silver by 29,900.0% during the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after purchasing an additional 2,990 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

About First Majestic Silver

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.