First Majestic Silver (NYSE:AG) Sets New 12-Month High – Here’s What Happened

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) reached a new 52-week high on Monday . The company traded as high as $20.60 and last traded at $20.4530, with a volume of 6437522 shares. The stock had previously closed at $18.91.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AG shares. HC Wainwright set a $17.50 price objective on shares of First Majestic Silver in a research report on Friday, October 10th. Scotiabank raised their target price on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. National Bank Financial upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Sunday, October 5th. TD Securities raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. Finally, BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.33.

First Majestic Silver Stock Down 1.8%

The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 141.85 and a beta of 0.77. The firm’s 50 day simple moving average is $15.09 and its two-hundred day simple moving average is $11.99.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Wednesday, November 5th. The mining company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.04). The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The firm’s revenue for the quarter was up 95.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) earnings per share. On average, equities analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.0052 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, November 14th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is currently 14.29%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC bought a new stake in First Majestic Silver during the third quarter worth about $28,000. Sound Income Strategies LLC raised its position in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares in the last quarter. CWM LLC raised its position in shares of First Majestic Silver by 57.2% in the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after buying an additional 1,860 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in shares of First Majestic Silver during the 4th quarter worth approximately $42,000. Finally, AdvisorNet Financial Inc boosted its position in shares of First Majestic Silver by 33.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after acquiring an additional 971 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

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.