First Majestic Silver Corp. to Issue Quarterly Dividend of $0.02 (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, August 14th will be given a dividend of 0.0152 per share by the mining company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, August 14th.

First Majestic Silver has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

First Majestic Silver Stock Up 2.7%

Shares of AG traded up $0.41 during midday trading on Thursday, hitting $15.63. The company had a trading volume of 21,050,598 shares, compared to its average volume of 18,146,092. The company’s 50-day simple moving average is $17.62 and its 200-day simple moving average is $20.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. The firm has a market capitalization of $7.71 billion, a P/E ratio of 26.06 and a beta of 0.91. First Majestic Silver has a 1 year low of $7.74 and a 1 year high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.First Majestic Silver’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts expect that First Majestic Silver will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Scotiabank dropped their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, HC Wainwright dropped their target price on shares of First Majestic Silver from $30.75 to $26.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.50.

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.