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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 27,373 call options on the stock. This is an increase of approximately 100% compared to the average volume of 13,664 call options.

First Majestic Silver Stock Up 8.3 %

AG opened at $5.83 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $5.65 and its 200 day simple moving average is $6.03. First Majestic Silver has a 52 week low of $4.43 and a 52 week high of $8.44. The stock has a market cap of $1.82 billion, a PE ratio of -16.64 and a beta of 1.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. As a group, research analysts expect that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.0057 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.39%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date is Friday, February 28th. First Majestic Silver’s payout ratio is presently -5.71%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently made changes to their positions in AG. Tidal Investments LLC lifted its stake in First Majestic Silver by 135.2% in the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock worth $74,647,000 after purchasing an additional 7,816,177 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of First Majestic Silver by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock valued at $62,784,000 after acquiring an additional 598,996 shares during the last quarter. Two Sigma Investments LP boosted its holdings in First Majestic Silver by 46.8% during the 4th quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock valued at $24,463,000 after acquiring an additional 1,420,937 shares during the period. Renaissance Technologies LLC grew its position in First Majestic Silver by 897.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock worth $20,638,000 after acquiring an additional 3,382,443 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in First Majestic Silver by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company’s stock worth $19,060,000 after acquiring an additional 121,892 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Scotiabank reduced their target price on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st.

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.