First Majestic Silver (NYSE:AG) Shares Down 7.1% – Time to Sell?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price fell 7.1% on Friday . The company traded as low as $22.81 and last traded at $22.8730. 10,140,770 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 26,324,467 shares. The stock had previously closed at $24.63.

Analyst Ratings Changes

A number of analysts have commented on AG shares. Zacks Research raised shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. HC Wainwright lifted their target price on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

First Majestic Silver Trading Down 7.2%

The company has a market cap of $11.26 billion, a PE ratio of 64.95 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The company has a 50 day simple moving average of $23.70 and a two-hundred day simple moving average of $16.65.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. The business had revenue of $463.92 million during the quarter, compared to analysts’ expectations of $561.30 million. During the same period last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 169.2% compared to the same quarter last year. Sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.0083 per share. The ex-dividend date is Friday, February 27th. This represents a $0.03 annualized dividend and a dividend yield of 0.1%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is presently 8.57%.

Institutional Trading of First Majestic Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. Lodestone Wealth Management LLC purchased a new position in First Majestic Silver in the fourth quarter valued at about $25,000. EFG International AG bought a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $25,000. Bogart Wealth LLC acquired a new position in First Majestic Silver in the third quarter worth approximately $28,000. Spire Wealth Management bought a new position in First Majestic Silver during the fourth quarter valued at approximately $35,000. Finally, Sound Income Strategies LLC raised its position in First Majestic Silver by 29,900.0% during the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after acquiring an additional 2,990 shares in the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.