First Majestic Silver (NYSE:AG) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a research report report published on Friday morning,Benzinga reports. They currently have a $11.00 price target on the mining company’s stock.

First Majestic Silver Stock Down 0.7 %

Shares of NYSE AG opened at $5.84 on Friday. The firm has a 50 day moving average price of $6.09 and a 200 day moving average price of $6.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The stock has a market cap of $1.76 billion, a P/E ratio of -21.63 and a beta of 1.25. First Majestic Silver has a 52-week low of $4.17 and a 52-week high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The firm had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. Analysts expect that First Majestic Silver will post -0.17 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.0048 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.33%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is presently -3.70%.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently made changes to their positions in AG. Toronto Dominion Bank lifted its stake in First Majestic Silver by 6.7% in the 3rd quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock valued at $176,000 after acquiring an additional 1,855 shares in the last quarter. Blue Trust Inc. lifted its position in shares of First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares in the last quarter. Veracity Capital LLC boosted its holdings in First Majestic Silver by 18.5% during the third quarter. Veracity Capital LLC now owns 17,344 shares of the mining company’s stock worth $104,000 after purchasing an additional 2,710 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in First Majestic Silver by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock valued at $1,411,000 after purchasing an additional 3,980 shares in the last quarter. Finally, Euro Pacific Asset Management LLC increased its stake in First Majestic Silver by 14.4% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 41,211 shares of the mining company’s stock valued at $251,000 after buying an additional 5,181 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.