First Majestic Silver Target of Unusually High Options Trading (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of unusually large options trading on Friday. Traders acquired 38,034 call options on the stock. This represents an increase of 143% compared to the typical daily volume of 15,621 call options.

Analysts Set New Price Targets

Several analysts have issued reports on AG shares. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th. HC Wainwright reissued a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research note on Friday.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $7.30 on Friday. The business’s 50 day moving average price is $5.90 and its two-hundred day moving average price is $6.37. The company has a market cap of $2.12 billion, a PE ratio of -45.63 and a beta of 1.36. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. First Majestic Silver has a twelve month low of $4.17 and a twelve month high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The business had revenue of $136.20 million for the quarter, compared to analyst estimates of $129.74 million. During the same period last year, the firm earned ($0.02) EPS. First Majestic Silver’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, analysts predict that First Majestic Silver will post -0.13 EPS for the current year.

First Majestic Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.0046 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, August 16th. First Majestic Silver’s dividend payout ratio is presently -6.25%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently made changes to their positions in the company. Veracity Capital LLC boosted its stake in shares of First Majestic Silver by 18.5% in the third quarter. Veracity Capital LLC now owns 17,344 shares of the mining company’s stock valued at $104,000 after buying an additional 2,710 shares during the period. Raymond James & Associates lifted its stake in First Majestic Silver by 17.7% during the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock worth $3,349,000 after purchasing an additional 83,867 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of First Majestic Silver by 77.3% in the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after purchasing an additional 2,253 shares in the last quarter. Creative Planning acquired a new stake in shares of First Majestic Silver in the 3rd quarter valued at $72,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of First Majestic Silver by 60.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 80,164 shares of the mining company’s stock valued at $474,000 after purchasing an additional 30,260 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.