First Majestic Silver Corp. (NYSE:AG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $25.25.

A number of research analysts recently commented on AG shares. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of First Majestic Silver from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright boosted their price objective on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a research report on Tuesday, May 12th.

First Majestic Silver Stock Performance

First Majestic Silver stock opened at $16.98 on Friday. The firm’s 50 day simple moving average is $20.71 and its 200-day simple moving average is $20.41. The company has a market cap of $8.38 billion, a P/E ratio of 28.29 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. First Majestic Silver has a fifty-two week low of $7.74 and a fifty-two week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The firm had revenue of $476.67 million during the quarter, compared to analysts’ expectations of $522.00 million. During the same period last year, the business earned $0.05 earnings per share. The business’s revenue was up 95.3% on a year-over-year basis. As a group, equities research analysts predict that First Majestic Silver will post 0.74 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were given a dividend of $0.0171 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. First Majestic Silver’s payout ratio is presently 11.67%.

Institutional Trading of First Majestic Silver

Several large investors have recently added to or reduced their stakes in AG. Lodestone Wealth Management LLC bought a new stake in First Majestic Silver in the fourth quarter worth approximately $25,000. EFG International AG bought a new stake in First Majestic Silver in the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC bought a new stake in First Majestic Silver in the first quarter worth approximately $32,000. PNC Financial Services Group Inc. grew its position in First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after acquiring an additional 978 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in First Majestic Silver in the fourth quarter worth approximately $35,000. 27.16% of the stock is owned by institutional investors.

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.