First Majestic Silver (NYSE:AG) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

First Majestic Silver (NYSE:AG) (TSE:FR) issued its quarterly earnings results on Tuesday. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02), Briefing.com reports. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.During the same quarter last year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 95.3% on a year-over-year basis.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock traded up $0.04 during trading hours on Tuesday, reaching $23.62. The stock had a trading volume of 7,359,974 shares, compared to its average volume of 21,802,070. The stock’s 50 day moving average is $22.13 and its 200 day moving average is $19.36. The company has a current ratio of 2.60, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. First Majestic Silver has a twelve month low of $5.49 and a twelve month high of $32.03. The firm has a market capitalization of $11.64 billion, a PE ratio of 67.58 and a beta of 0.85.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.0083 dividend. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date was Friday, February 27th. First Majestic Silver’s payout ratio is currently 8.57%.

Hedge Funds Weigh In On First Majestic Silver

Large investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in First Majestic Silver by 14.0% during the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock worth $258,273,000 after purchasing an additional 2,581,023 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of First Majestic Silver by 964.5% in the second quarter. BNP Paribas Financial Markets now owns 2,334,147 shares of the mining company’s stock valued at $19,303,000 after buying an additional 2,114,874 shares in the last quarter. Morgan Stanley raised its stake in shares of First Majestic Silver by 63.2% during the 4th quarter. Morgan Stanley now owns 3,809,109 shares of the mining company’s stock worth $63,460,000 after buying an additional 1,474,412 shares during the period. Mackenzie Financial Corp lifted its position in shares of First Majestic Silver by 67.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,869,121 shares of the mining company’s stock valued at $48,502,000 after buying an additional 1,154,430 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of First Majestic Silver by 343.3% during the 3rd quarter. Barclays PLC now owns 1,383,403 shares of the mining company’s stock valued at $17,002,000 after buying an additional 1,071,354 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AG. Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. HC Wainwright increased their price target on First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Wall Street Zen lowered First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.00.

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.