First Majestic Silver (NYSE:AG) Hits New 12-Month High – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.97 and last traded at $29.4220, with a volume of 7218671 shares changing hands. The stock had previously closed at $27.55.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen raised First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of First Majestic Silver in a report on Friday, January 16th. Zacks Research raised First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Scotiabank increased their price objective on First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

First Majestic Silver Trading Up 4.0%

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 company has a 50 day moving average of $20.51 and a 200 day moving average of $14.84. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 81.86 and a beta of 0.84.

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

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.0083 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, February 27th. First Majestic Silver’s dividend payout ratio (DPR) is 5.71%.

Institutional Trading of First Majestic Silver

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in First Majestic Silver by 49.1% during the fourth quarter. Invesco Ltd. now owns 1,552,733 shares of the mining company’s stock worth $25,869,000 after buying an additional 511,230 shares during the last quarter. Wealthspire Retirement LLC raised its position in shares of First Majestic Silver by 1.4% in the 4th quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock valued at $541,000 after acquiring an additional 450 shares during the period. Vident Advisory LLC bought a new position in First Majestic Silver during the 4th quarter worth approximately $996,000. State of Tennessee Department of Treasury acquired a new position in First Majestic Silver during the fourth quarter valued at approximately $182,000. Finally, Mackenzie Financial Corp increased its stake in First Majestic Silver by 67.3% in the fourth quarter. Mackenzie Financial Corp now owns 2,869,121 shares of the mining company’s stock valued at $48,502,000 after purchasing an additional 1,154,430 shares in the last quarter. Institutional investors and hedge funds 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.