First Majestic Silver Corp. (NYSE:AG) Given Average Recommendation of “Hold” by Analysts

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $13.75.

Several equities analysts have recently weighed in on AG shares. Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a report on Saturday, September 27th. HC Wainwright reaffirmed a “buy” rating and set a $12.75 target price on shares of First Majestic Silver in a research note on Friday, August 15th. Scotiabank upped their price target on First Majestic Silver from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 9th. National Bank Financial upgraded shares of First Majestic Silver to a “hold” rating in a report on Thursday, June 12th. Finally, National Bankshares set a $22.00 price objective on shares of First Majestic Silver and gave the stock an “outperform” rating in a research report on Monday.

First Majestic Silver Stock Performance

Shares of NYSE AG opened at $12.11 on Monday. First Majestic Silver has a 52 week low of $5.09 and a 52 week high of $13.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of -1,209.49 and a beta of 0.76. The business’s 50-day simple moving average is $9.67 and its 200-day simple moving average is $8.00.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The company had revenue of $264.20 million during the quarter, compared to the consensus estimate of $387.25 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 94.0% on a year-over-year basis. As a group, equities research analysts expect that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.0048 per share. The ex-dividend date was Friday, August 29th. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. First Majestic Silver’s dividend payout ratio (DPR) is -100.00%.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. bought a new stake in First Majestic Silver in the 2nd quarter worth $162,000. Newbridge Financial Services Group Inc. bought a new stake in First Majestic Silver during the second quarter worth about $425,000. Marex Group plc bought a new stake in First Majestic Silver during the second quarter worth about $224,000. Geneos Wealth Management Inc. lifted its stake in shares of First Majestic Silver by 33.0% in the second quarter. Geneos Wealth Management Inc. now owns 135,227 shares of the mining company’s stock worth $1,118,000 after buying an additional 33,575 shares in the last quarter. Finally, FORA Capital LLC lifted its stake in shares of First Majestic Silver by 1,216.2% in the second quarter. FORA Capital LLC now owns 340,695 shares of the mining company’s stock worth $2,818,000 after buying an additional 314,811 shares in the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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.