First Majestic Silver (NYSE:AG) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Zacks Research cut First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. HC Wainwright upped their price objective on First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Scotiabank upped their price objective on First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

First Majestic Silver Trading Up 2.1%

Shares of NYSE AG opened at $21.49 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.60 and a quick ratio of 2.41. The stock has a market capitalization of $10.60 billion, a P/E ratio of 61.41 and a beta of 0.97. First Majestic Silver has a 1-year low of $5.49 and a 1-year high of $32.03. The business has a fifty day moving average price of $23.43 and a 200 day moving average price of $18.62.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $463.92 million during the quarter, compared to analysts’ expectations of $561.30 million. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The firm’s quarterly revenue was up 169.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. Equities research analysts expect that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a dividend of $0.0083 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.03 annualized dividend and a yield of 0.2%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is currently 8.57%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc increased 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 valued at $148,000 after buying an additional 804 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of First Majestic Silver by 10.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 141,161 shares of the mining company’s stock valued at $2,352,000 after purchasing an additional 13,255 shares during the period. World Investment Advisors acquired a new position in shares of First Majestic Silver in the fourth quarter valued at about $191,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of First Majestic Silver by 18,702.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 58,476 shares of the mining company’s stock valued at $974,000 after purchasing an additional 58,165 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of First Majestic Silver by 49.1% in the fourth quarter. Invesco Ltd. now owns 1,552,733 shares of the mining company’s stock valued at $25,869,000 after purchasing an additional 511,230 shares during the period. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

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.