First Majestic Silver Corp. (NYSE:AG) Receives $8.75 Consensus Price Target from Analysts

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have earned an average recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $8.75.

AG has been the topic of several recent analyst reports. HC Wainwright boosted their target price on shares of First Majestic Silver from $11.00 to $11.50 and gave the company a “buy” rating in a report on Friday, May 9th. Scotiabank restated a “sector perform” rating and issued a $6.00 target price on shares of First Majestic Silver in a report on Wednesday, April 2nd. National Bank Financial upgraded shares of First Majestic Silver to a “hold” rating in a report on Thursday, June 12th. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Finally, TD Securities upgraded shares of First Majestic Silver to a “hold” rating in a report on Monday, March 10th.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its position in First Majestic Silver by 3.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 101,652 shares of the mining company’s stock worth $680,000 after purchasing an additional 3,300 shares in the last quarter. Bayforest Capital Ltd grew its position in First Majestic Silver by 1,978.6% in the 1st quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock worth $1,431,000 after purchasing an additional 203,555 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in First Majestic Silver by 355.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock worth $7,985,000 after purchasing an additional 931,690 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in First Majestic Silver by 66.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company’s stock worth $675,000 after purchasing an additional 40,228 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in First Majestic Silver by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,845,005 shares of the mining company’s stock worth $52,436,000 after purchasing an additional 820,664 shares in the last quarter. 27.16% of the stock is owned by institutional investors.

First Majestic Silver Price Performance

Shares of NYSE:AG opened at $8.03 on Friday. The firm has a market cap of $3.89 billion, a PE ratio of -27.67 and a beta of 0.74. The firm’s fifty day moving average is $6.81 and its 200-day moving average is $6.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19. First Majestic Silver has a 52 week low of $4.43 and a 52 week high of $8.70.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. First Majestic Silver had a negative return on equity of 0.14% and a negative net margin of 12.32%. First Majestic Silver’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. Sell-side analysts predict that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $0.0045 per share. This represents a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver’s payout ratio is presently -6.90%.

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.