First Majestic Silver (NYSE:AG) Stock Price Down 13.1% – Should You Sell?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) traded down 13.1% during mid-day trading on Friday . The company traded as low as $17.31 and last traded at $17.1750. 10,000,452 shares changed hands during trading, a decline of 51% from the average session volume of 20,332,713 shares. The stock had previously closed at $19.77.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright lifted their price target on First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. Finally, BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Majestic Silver currently has an average rating of “Moderate Buy” and an average target price of $25.25.

First Majestic Silver Stock Performance

The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $20.71 and a 200-day moving average price of $20.41. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 28.29 and a beta of 0.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The business had revenue of $476.67 million for the quarter, compared to analyst estimates of $522.00 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The business’s quarterly revenue was up 95.3% on a year-over-year basis. As a group, equities research analysts forecast that First Majestic Silver Corp. will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were issued a $0.0171 dividend. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 20th. First Majestic Silver’s dividend payout ratio is currently 11.67%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealthspire Retirement LLC grew its position in First Majestic Silver by 1.4% during the 4th quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after purchasing an additional 450 shares in the last quarter. Parallel Advisors LLC grew its position in First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after purchasing an additional 560 shares in the last quarter. Harbour Investments Inc. grew its position in First Majestic Silver by 2.9% during the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock worth $411,000 after purchasing an additional 697 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in First Majestic Silver by 3.0% during the 4th quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock worth $416,000 after purchasing an additional 718 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its position in First Majestic Silver by 13.2% during the 1st quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock worth $148,000 after purchasing an additional 804 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.