First Majestic Silver (NYSE:AG) Shares Up 8.3% – What’s Next?

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) rose 8.3% during mid-day trading on Tuesday . The stock traded as high as $18.45 and last traded at $18.4580. Approximately 13,951,062 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 20,845,279 shares. The stock had previously closed at $17.04.

Analysts Set New Price Targets

AG has been the topic of several recent analyst reports. Scotiabank lifted their target price on First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, October 8th. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. National Bankshares set a $22.00 target price on First Majestic Silver and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Trading Up 7.8%

The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 131.11 and a beta of 0.77. The business has a 50-day simple moving average of $14.33 and a two-hundred day simple moving average of $11.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38.

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

First Majestic Silver Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Confluence Investment Management LLC acquired a new position in shares of First Majestic Silver during the 4th quarter worth approximately $1,514,000. Tudor Investment Corp ET AL boosted its holdings in shares of First Majestic Silver by 891.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock valued at $3,008,000 after buying an additional 220,056 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of First Majestic Silver by 92.0% in the third quarter. Swiss Life Asset Management Ltd now owns 21,538 shares of the mining company’s stock valued at $265,000 after buying an additional 10,318 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in First Majestic Silver during the third quarter worth $318,000. Finally, Advisory Services Network LLC bought a new stake in First Majestic Silver during the third quarter worth $344,000. 27.16% of the stock is owned by institutional investors and hedge funds.

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.