First Majestic Silver (NYSE:AG) Upgraded to “Strong-Buy” 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 research note released on Saturday morning.

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

First Majestic Silver Price Performance

Shares of AG stock opened at $21.83 on Friday. First Majestic Silver has a 12 month low of $5.18 and a 12 month high of $32.03. The company has a market capitalization of $10.76 billion, a P/E ratio of 62.37 and a beta of 0.97. The stock has a 50 day moving average of $23.83 and a two-hundred day moving average of $17.95. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $463.92 million for the quarter, compared to analysts’ expectations of $561.30 million. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.First Majestic Silver’s quarterly revenue was up 169.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, equities analysts expect that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a dividend of $0.0083 per share. The ex-dividend date of this dividend was Friday, February 27th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.2%. First Majestic Silver’s dividend payout ratio (DPR) is 8.57%.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently made changes to their positions in AG. Lodestone Wealth Management LLC acquired a new stake in shares of First Majestic Silver during the 4th quarter worth about $25,000. EFG International AG acquired a new position in First Majestic Silver in the fourth quarter valued at about $25,000. Spire Wealth Management bought a new stake in First Majestic Silver during the fourth quarter worth about $35,000. Bogart Wealth LLC bought a new stake in First Majestic Silver during the third quarter worth about $28,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of First Majestic Silver during the fourth quarter worth approximately $42,000. Institutional investors own 27.16% of the company’s stock.

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.