First Majestic Silver’s (AG) “Buy” Rating Reaffirmed at HC Wainwright

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

Separately, Scotiabank decreased their target price on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th.

First Majestic Silver Price Performance

Shares of NYSE:AG opened at $5.55 on Friday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -20.54 and a beta of 1.24. First Majestic Silver has a 1 year low of $4.28 and a 1 year high of $8.44. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $6.01.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. As a group, sell-side analysts predict that First Majestic Silver will post -0.18 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.0057 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, February 28th. First Majestic Silver’s payout ratio is -7.41%.

Hedge Funds Weigh In On First Majestic Silver

A number of institutional investors have recently modified their holdings of the company. Barclays PLC acquired a new position in First Majestic Silver in the 3rd quarter valued at $2,419,000. Realta Investment Advisors grew its position in shares of First Majestic Silver by 16.8% in the fourth quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock valued at $2,882,000 after purchasing an additional 71,456 shares during the last quarter. National Bank of Canada FI increased its stake in shares of First Majestic Silver by 18.0% in the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after purchasing an additional 104,092 shares during the period. Raymond James & Associates boosted its stake in First Majestic Silver by 17.7% during the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock valued at $3,349,000 after purchasing an additional 83,867 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in First Majestic Silver in the 3rd quarter worth approximately $748,000. 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.