First Majestic Silver (NYSE:AG) Upgraded at Wall Street Zen

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

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

First Majestic Silver Trading Down 2.1%

Shares of AG opened at $21.39 on Friday. First Majestic Silver has a 12 month low of $5.18 and a 12 month high of $32.03. The stock has a market cap of $10.55 billion, a PE ratio of 61.12 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The stock’s 50-day moving average is $23.74 and its two-hundred day moving average is $18.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The business had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 169.2% compared to the same quarter last year. Equities analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

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

Institutional Trading of First Majestic Silver

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lodestone Wealth Management LLC bought a new stake in First Majestic Silver in the fourth quarter valued at about $25,000. EFG International AG bought a new stake in First Majestic Silver in the fourth quarter valued at about $25,000. Bogart Wealth LLC bought a new stake in First Majestic Silver in the third quarter valued at about $28,000. Spire Wealth Management bought a new stake in First Majestic Silver in the fourth quarter valued at about $35,000. Finally, Sound Income Strategies LLC increased its holdings in First Majestic Silver by 29,900.0% in the third 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 during the last quarter. 27.16% of the stock is owned by 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.