First Majestic Silver (NYSE:AG) Shares Up 8.4%

First Majestic Silver Corp. (NYSE:AGGet Rating) (TSE:FR) shares shot up 8.4% on Thursday . The company traded as high as $8.05 and last traded at $7.99. 325,876 shares were traded during trading, a decline of 95% from the average session volume of 6,477,786 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AG. HC Wainwright dropped their price target on shares of First Majestic Silver from $19.50 to $12.50 and set a “buy” rating on the stock in a research report on Monday, July 25th. TheStreet lowered shares of First Majestic Silver from a “c” rating to a “d+” rating in a research report on Friday, April 22nd. BMO Capital Markets lowered their price objective on shares of First Majestic Silver from C$10.00 to C$9.50 in a research report on Monday, July 25th. TD Securities lowered their price objective on shares of First Majestic Silver from C$20.00 to C$12.00 in a research report on Friday, May 13th. Finally, National Bank Financial lowered their price objective on shares of First Majestic Silver from C$18.00 to C$11.75 in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, First Majestic Silver has an average rating of “Hold” and a consensus target price of $11.44.

First Majestic Silver Stock Performance

The firm’s 50-day moving average price is $7.64 and its 200-day moving average price is $10.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.24 and a quick ratio of 1.82.

First Majestic Silver (NYSE:AGGet Rating) (TSE:FR) last issued its quarterly earnings data on Thursday, May 12th. The mining company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.08). The firm had revenue of $156.84 million for the quarter. First Majestic Silver had a negative net margin of 15.35% and a negative return on equity of 1.83%. Research analysts predict that First Majestic Silver Corp. will post 0.2 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th will be paid a dividend of $0.0061 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.02 annualized dividend and a yield of 0.30%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s payout ratio is currently -5.26%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in First Majestic Silver by 9.6% in the 1st quarter. Van ECK Associates Corp now owns 26,164,514 shares of the mining company’s stock worth $344,324,000 after buying an additional 2,293,995 shares in the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of First Majestic Silver in the 1st quarter worth approximately $126,536,000. Dimensional Fund Advisors LP lifted its holdings in shares of First Majestic Silver by 127.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company’s stock worth $17,408,000 after acquiring an additional 740,867 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of First Majestic Silver by 18.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,202,344 shares of the mining company’s stock worth $46,809,000 after acquiring an additional 641,019 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of First Majestic Silver by 118.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,006,551 shares of the mining company’s stock worth $13,246,000 after acquiring an additional 546,230 shares during the last quarter. Hedge funds and other institutional investors own 39.65% of the company’s stock.

About First Majestic Silver

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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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.

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