First Majestic Silver (NYSE:AG) Rating Increased to Moderate Buy at Cormark

Cormark upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a hold rating to a moderate buy rating in a report issued on Thursday morning,Zacks.com reports. Cormark also issued estimates for First Majestic Silver’s FY2025 earnings at $0.31 EPS.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, October 8th. Scotiabank lifted their target price on First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. National Bankshares set a $22.00 price target on First Majestic Silver and gave the company an “outperform” rating in a research report on Monday, October 6th. HC Wainwright set a $17.50 price target on First Majestic Silver in a research note on Friday, October 10th. Finally, TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.33.

First Majestic Silver Stock Up 2.2%

Shares of NYSE AG opened at $10.91 on Thursday. The company has a 50 day simple moving average of $11.80 and a 200 day simple moving average of $9.10. The firm has a market cap of $5.35 billion, a PE ratio of -1,089.91 and a beta of 0.79. First Majestic Silver has a 1 year low of $5.09 and a 1 year high of $15.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue was up 95.3% compared to the same quarter last year. On average, research analysts forecast that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.0052 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is presently -100.00%.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased 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 valued at $675,000 after buying an additional 40,228 shares in the last quarter. Capital Management Associates Inc bought a new position in First Majestic Silver in the second quarter worth approximately $333,000. Bayforest Capital Ltd grew its stake in First Majestic Silver by 1,978.6% in the first quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock valued at $1,431,000 after acquiring an additional 203,555 shares during the period. Alps Advisors Inc. bought a new stake in shares of First Majestic Silver during the first quarter valued at approximately $1,935,000. Finally, Marotta Asset Management bought a new stake in shares of First Majestic Silver during the second quarter valued at approximately $633,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.