First Majestic Silver (NYSE:AG) Shares Gap Down – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down before the market opened on Friday . The stock had previously closed at $5.68, but opened at $5.56. First Majestic Silver shares last traded at $5.58, with a volume of 1,257,374 shares.

Wall Street Analyst Weigh In

Several research analysts have recently 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 restated a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research report on Friday, October 18th.

First Majestic Silver Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45. The firm has a fifty day simple moving average of $6.47 and a 200-day simple moving average of $6.13. The firm has a market cap of $1.67 billion, a P/E ratio of -20.52 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). The business had revenue of $146.09 million for the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. On average, equities research analysts expect that First Majestic Silver Corp. will post -0.17 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.0048 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 annualized dividend and a yield of 0.35%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is -3.70%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Barclays PLC bought a new stake in First Majestic Silver during the third quarter worth $2,419,000. Marshall Wace LLP purchased a new position in shares of First Majestic Silver in the 2nd quarter worth about $3,904,000. National Bank of Canada FI increased its holdings in First Majestic Silver by 18.0% during the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after buying an additional 104,092 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 worth $18,701,000 after acquiring an additional 103,232 shares during the period. Finally, Raymond James & Associates boosted its stake in First Majestic Silver by 17.7% in the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock valued at $3,349,000 after acquiring an additional 83,867 shares during the last quarter. 27.16% of the stock is owned by institutional investors.

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.