First Majestic Silver Corp. (NYSE:AG) Declares Quarterly Dividend of $0.02

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Monday, May 11th. Stockholders of record on Wednesday, May 20th will be paid a dividend of 0.0171 per share by the mining company on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, May 20th. This is a 106.0% increase from First Majestic Silver’s previous quarterly dividend of $0.0083.

First Majestic Silver has a dividend payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 2.8%.

First Majestic Silver Trading Up 2.8%

Shares of AG stock opened at $24.25 on Wednesday. The stock has a 50-day moving average of $21.97 and a 200-day moving average of $19.44. First Majestic Silver has a 1-year low of $5.49 and a 1-year high of $32.03. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 69.28 and a beta of 0.85. The company has a current ratio of 2.60, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The business had revenue of $476.67 million during the quarter, compared to analysts’ expectations of $522.00 million. During the same quarter last year, the firm posted $0.05 earnings per share. The firm’s revenue was up 95.3% on a year-over-year basis. On average, equities research analysts forecast that First Majestic Silver will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in First Majestic Silver by 77.4% during the first quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock worth $4,042,000 after acquiring an additional 263,688 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in First Majestic Silver by 355.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock worth $7,985,000 after buying an additional 931,690 shares during the last quarter. Geode Capital Management LLC increased its position in First Majestic Silver by 12.4% in the second quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock worth $1,994,000 after buying an additional 26,553 shares during the last quarter. Creative Planning increased its position in First Majestic Silver by 25.3% in the second quarter. Creative Planning now owns 28,837 shares of the mining company’s stock worth $238,000 after buying an additional 5,828 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in First Majestic Silver by 12.8% in the second quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock worth $215,000 after buying an additional 2,936 shares during 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.