Brokerages Set First Majestic Silver Corp. (NYSE:AG) Price Target at $25.00

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $25.00.

A number of analysts have weighed in on AG shares. BMO Capital Markets reissued a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Scotiabank lifted their target price on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Finally, Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th.

Institutional Investors Weigh In On First Majestic Silver

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

First Majestic Silver Trading Up 3.0%

AG opened at $32.02 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. First Majestic Silver has a fifty-two week low of $5.09 and a fifty-two week high of $32.04. The company’s 50 day moving average price is $21.89 and its two-hundred day moving average price is $15.55. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 91.50 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The business had revenue of $463.92 million during the quarter, compared to the consensus estimate of $561.30 million. During the same period in the prior year, the business posted $0.03 earnings per share. First Majestic Silver’s quarterly revenue was up 169.2% on a year-over-year basis. As a group, research analysts predict that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.0083 per share. This represents a $0.03 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, February 27th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is currently 5.71%.

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.