First Majestic Silver Corp. (NYSE:AG) Receives $25.00 Consensus Price Target from Analysts

Shares of First Majestic Silver Corp. (NYSE:AGGet Free Report) (TSE:FR) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $25.25.

AG has been the subject of a number of research analyst reports. HC Wainwright increased their price target on First Majestic Silver to $30.75 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank raised shares of First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Weiss Ratings raised shares of First Majestic Silver from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research cut shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st.

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Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of First Majestic Silver by 408.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after purchasing an additional 12,081,688 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of First Majestic Silver by 32.0% during the third quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock worth $531,234,000 after purchasing an additional 10,471,543 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Majestic Silver by 38.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock worth $232,539,000 after purchasing an additional 5,265,612 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of First Majestic Silver during the third quarter worth $55,071,000. Finally, Alps Advisors Inc. raised its holdings in shares of First Majestic Silver by 108.7% during the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock worth $88,527,000 after purchasing an additional 3,751,376 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Trading Down 9.8%

NYSE:AG opened at $20.43 on Tuesday. The firm has a 50 day moving average of $21.54 and a 200 day moving average of $19.60. The company has a quick ratio of 2.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. First Majestic Silver has a 52 week low of $5.49 and a 52 week high of $32.03. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 34.05 and a beta of 0.85.

First Majestic Silver (NYSE:AGGet Free Report) (TSE:FR) last released its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The business had revenue of $476.67 million during the quarter, compared to analysts’ expectations of $522.00 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’s quarterly revenue was up 95.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Majestic Silver will post 0.74 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th will be paid a $0.0171 dividend. The ex-dividend date is Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is 5.00%.

About First Majestic Silver

(Get Free Report)

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.

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Analyst Recommendations for First Majestic Silver (NYSE:AG)

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