First Majestic Silver Corp. (AG) To Go Ex-Dividend on August 14th

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a quarterly dividend on Wednesday, July 29th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.0152 per share by the mining company on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, August 14th.

First Majestic Silver has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Majestic Silver to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

First Majestic Silver Trading Up 2.7%

Shares of AG stock opened at $15.63 on Friday. First Majestic Silver has a fifty-two week low of $7.74 and a fifty-two week high of $32.03. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $17.54 and a 200 day simple moving average of $20.81. The stock has a market capitalization of $7.71 billion, a P/E ratio of 26.06 and a beta of 0.91.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $415.50 million for the quarter, compared to analyst estimates of $496.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts expect that First Majestic Silver will post 0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on AG shares. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Scotiabank lowered their target price on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. HC Wainwright reduced their target price on First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Finally, ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, First Majestic Silver has an average rating of “Moderate Buy” and a consensus target price of $23.50.

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.