First Majestic Silver Corp. (NYSE:AG) Receives $23.83 Consensus PT from Analysts

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.8333.

AG has been the subject of a number of analyst reports. HC Wainwright lifted their price objective on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Scotiabank cut their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Majestic Silver in a report on Wednesday, September 2nd.

First Majestic Silver Trading Up 1.8%

NYSE AG opened at $19.85 on Monday. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 27.95 and a beta of 1.00. First Majestic Silver has a 52 week low of $10.01 and a 52 week high of $32.03. The business has a 50 day moving average price of $18.63 and a 200-day moving average price of $19.76. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.First Majestic Silver’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, equities analysts expect that First Majestic Silver will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.0152 per share. The ex-dividend date was Friday, August 14th. This represents a $0.06 annualized dividend and a yield of 0.3%. First Majestic Silver’s dividend payout ratio is 8.45%.

Hedge Funds Weigh In On First Majestic Silver

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in First Majestic Silver by 63.9% during the second quarter. The Manufacturers Life Insurance Company now owns 3,516,832 shares of the mining company’s stock worth $59,610,000 after purchasing an additional 1,371,189 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of First Majestic Silver during the 2nd quarter worth approximately $422,000. Engineers Gate Manager LP boosted its stake in shares of First Majestic Silver by 95.4% in the 2nd quarter. Engineers Gate Manager LP now owns 116,087 shares of the mining company’s stock worth $1,969,000 after buying an additional 56,675 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of First Majestic Silver by 18.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 11,995 shares of the mining company’s stock worth $203,000 after buying an additional 1,838 shares during the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in shares of First Majestic Silver in the second quarter valued at approximately $1,346,000. 27.16% of the stock is currently owned by institutional investors.

About First Majestic Silver

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.