First Majestic Silver (NYSE:AG) Trading Up 7% – Here’s What Happened

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price traded up 7% during trading on Wednesday . The stock traded as high as $5.76 and last traded at $5.76. 4,932,010 shares changed hands during trading, a decline of 52% from the average session volume of 10,285,332 shares. The stock had previously closed at $5.38.

Analyst Ratings Changes

AG has been the subject of a number of analyst reports. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. 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 note on Wednesday, January 15th. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of First Majestic Silver in a research report on Friday, February 21st.

First Majestic Silver Stock Up 1.1 %

The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $5.65 and a 200-day simple moving average of $6.03. The company has a market cap of $1.84 billion, a PE ratio of -16.87 and a beta of 1.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The business had revenue of $172.34 million for the quarter, compared to analyst estimates of $227.77 million. Equities research analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.0057 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.39%. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AG. Integrated Advisors Network LLC purchased a new stake in First Majestic Silver during the 4th quarter worth approximately $399,000. Mackenzie Financial Corp boosted its stake in shares of First Majestic Silver by 8.1% in the fourth quarter. Mackenzie Financial Corp now owns 155,262 shares of the mining company’s stock worth $852,000 after acquiring an additional 11,649 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of First Majestic Silver by 6.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 88,896 shares of the mining company’s stock worth $488,000 after purchasing an additional 5,099 shares in the last quarter. Two Sigma Advisers LP raised its stake in First Majestic Silver by 90.6% in the 4th quarter. Two Sigma Advisers LP now owns 118,715 shares of the mining company’s stock valued at $652,000 after purchasing an additional 56,415 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in First Majestic Silver by 46.8% in the 4th quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock valued at $24,463,000 after purchasing an additional 1,420,937 shares in the last quarter. Institutional investors and hedge funds 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.