First Majestic Silver Corp. (NYSE:AG) Receives $25.00 Consensus Target Price from Analysts

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $25.25.

AG has been the subject of a number of research reports. Zacks Research cut shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings raised shares of First Majestic Silver from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday. HC Wainwright upped their target price on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Scotiabank raised shares of First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd.

First Majestic Silver Stock Performance

NYSE AG opened at $19.75 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. First Majestic Silver has a 1 year low of $5.55 and a 1 year high of $32.03. The company has a market capitalization of $9.75 billion, a PE ratio of 32.91 and a beta of 0.85. The company has a fifty day moving average of $21.41 and a two-hundred day moving average of $19.70.

First Majestic Silver (NYSE:AG) (TSE:FR) last released 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 net margin of 19.51% and a return on equity of 11.19%. The company had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. During the same quarter in the prior year, the company earned $0.05 EPS. The business’s revenue was up 95.3% on a year-over-year basis. As a group, analysts expect that First Majestic Silver will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th will be issued a $0.0171 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio is currently 10.00%.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently made changes to their positions in the business. Lodestone Wealth Management LLC purchased a new stake in shares of First Majestic Silver in the fourth quarter valued at about $25,000. Harbor Investment Advisory LLC purchased a new stake in shares of First Majestic Silver in the first quarter valued at about $32,000. EFG International AG purchased a new stake in shares of First Majestic Silver in the fourth quarter valued at about $25,000. PNC Financial Services Group Inc. raised its holdings in First Majestic Silver by 184.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after purchasing an additional 978 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in First Majestic Silver in the fourth quarter valued at about $35,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

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.