First Majestic Silver (NYSE:AG) Shares Gap Up to $6.70

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped up before the market opened on Monday . The stock had previously closed at $6.70, but opened at $6.93. First Majestic Silver shares last traded at $7.00, with a volume of 1,938,340 shares traded.

Analysts Set New Price Targets

AG has been the subject of a number of recent research reports. HC Wainwright lifted their price target on First Majestic Silver from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a report on Monday, February 26th.

First Majestic Silver Price Performance

The stock has a 50 day moving average price of $6.17 and a two-hundred day moving average price of $5.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -14.79 and a beta of 1.39.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. The company had revenue of $136.95 million for the quarter. During the same quarter last year, the company earned ($0.07) earnings per share. As a group, analysts expect that First Majestic Silver Corp. will post -0.01 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.0048 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.02 dividend on an annualized basis and a yield of 0.27%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently -4.17%.

Hedge Funds Weigh In On First Majestic Silver

Several large investors have recently bought and sold shares of AG. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Majestic Silver by 5.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,806 shares of the mining company’s stock worth $267,000 after buying an additional 2,852 shares during the last quarter. Trexquant Investment LP increased its holdings in shares of First Majestic Silver by 1.8% in the 4th quarter. Trexquant Investment LP now owns 178,151 shares of the mining company’s stock valued at $1,096,000 after acquiring an additional 3,069 shares during the period. Toronto Dominion Bank raised its position in First Majestic Silver by 5.8% in the 3rd quarter. Toronto Dominion Bank now owns 71,753 shares of the mining company’s stock valued at $368,000 after purchasing an additional 3,924 shares during the last quarter. Sprott Inc. boosted its stake in First Majestic Silver by 0.5% during the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock worth $4,838,000 after purchasing an additional 4,257 shares during the period. Finally, AXQ Capital LP grew its position in First Majestic Silver by 63.2% during the 3rd quarter. AXQ Capital LP now owns 17,300 shares of the mining company’s stock worth $89,000 after purchasing an additional 6,700 shares during the last quarter. 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.