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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.54, but opened at $5.77. First Majestic Silver shares last traded at $5.89, with a volume of 1,611,126 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AG. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of First Majestic Silver in a research report on Friday, January 10th. Scotiabank dropped their price target on 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 Stock Performance

The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.80 billion, a PE ratio of -22.11 and a beta of 1.25. The firm has a fifty day simple moving average of $5.85 and a 200-day simple moving average of $6.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). The business had revenue of $146.09 million for the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. On average, research analysts forecast that First Majestic Silver Corp. will post -0.16 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.0048 per share. The ex-dividend date was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.32%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is presently -7.41%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in shares of First Majestic Silver by 77.3% during the 3rd 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 during the period. Y Intercept Hong Kong Ltd purchased a new stake in First Majestic Silver during the 3rd quarter worth $70,000. Creative Planning acquired a new stake in First Majestic Silver in the 3rd quarter valued at $72,000. Corundum Trust Company INC acquired a new position in shares of First Majestic Silver during the third quarter worth about $72,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of First Majestic Silver in the fourth quarter worth about $82,000. Hedge funds and other 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.