First Majestic Silver Corp. (NYSE:AG) Stock Rated “Moderate Buy” by Sell-Side Analysts

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.00.

Several research analysts recently issued reports on the company. Scotiabank cut their target price on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. HC Wainwright lowered their target price on shares of First Majestic Silver from $27.00 to $25.50 and set a “buy” rating for the company in a report on Friday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th.

First Majestic Silver Price Performance

AG stock opened at $16.32 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. The business has a 50-day simple moving average of $19.24 and a two-hundred day simple moving average of $19.03. The company has a market capitalization of $8.04 billion, a P/E ratio of 22.98 and a beta of 0.97. First Majestic Silver has a 52-week low of $10.19 and a 52-week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%. The company had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. During the same period last year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. Research analysts expect that First Majestic Silver will post 0.80 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.0152 dividend. This is a drop from First Majestic Silver’s previous quarterly dividend of $0.0171. The ex-dividend date was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. First Majestic Silver’s dividend payout ratio is currently 8.45%.

Hedge Funds Weigh In On First Majestic Silver

Institutional investors have recently added to or reduced their stakes in the stock. M Holdings Securities Inc. increased its holdings in shares of First Majestic Silver by 3.1% in the second quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company’s stock worth $285,000 after buying an additional 515 shares during the period. Parallel Advisors LLC lifted its stake in shares of First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after acquiring an additional 560 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of First Majestic Silver by 13.2% in the 1st quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock valued at $148,000 after acquiring an additional 804 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock valued at $32,000 after acquiring an additional 978 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new stake in First Majestic Silver during the 1st quarter valued at about $32,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.