First Majestic Silver (NYSE:AG) Stock Price Up 6.8% – Time to Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) rose 6.8% during trading on Friday . The company traded as high as $6.82 and last traded at $6.76. Approximately 2,548,110 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 8,003,255 shares. The stock had previously closed at $6.33.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AG shares. Cormark raised shares of 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 target price on shares of First Majestic Silver in a research note on Friday.

First Majestic Silver Stock Up 15.3 %

The business has a 50 day simple moving average of $5.90 and a 200-day simple moving average of $6.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -45.63 and a beta of 1.36.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS 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 firm had revenue of $136.20 million for the quarter, compared to analysts’ expectations of $129.74 million. During the same period last year, the firm earned ($0.02) earnings per share. First Majestic Silver’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts expect that First Majestic Silver Corp. will post -0.13 EPS for the current year.

First Majestic Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.0046 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.02 annualized dividend and a yield of 0.25%. First Majestic Silver’s payout ratio is -6.25%.

Institutional Trading of First Majestic Silver

A number of hedge funds and other institutional investors have recently modified their holdings of AG. Van ECK Associates Corp boosted its stake in First Majestic Silver by 5.1% during the first quarter. Van ECK Associates Corp now owns 31,876,555 shares of the mining company’s stock worth $187,433,000 after buying an additional 1,534,710 shares during the period. Vanguard Group Inc. boosted its position in shares of First Majestic Silver by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock worth $61,456,000 after purchasing an additional 186,570 shares during the period. Tidal Investments LLC increased its holdings in First Majestic Silver by 6,929.4% in the 1st quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company’s stock valued at $30,406,000 after purchasing an additional 5,101,271 shares during the last quarter. Dimensional Fund Advisors LP raised its position in First Majestic Silver by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock valued at $18,701,000 after purchasing an additional 103,232 shares during the period. Finally, TD Asset Management Inc lifted its stake in First Majestic Silver by 0.8% during the second quarter. TD Asset Management Inc now owns 774,530 shares of the mining company’s stock worth $4,585,000 after purchasing an additional 5,868 shares in the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver

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.