Brokerages Set First Majestic Silver Corp. (NYSE:AG) Target Price at $25.25

Shares of First Majestic Silver Corp. (NYSE:AG – Get Free Report) (TSE:FR) have received an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $25.25.

AG has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. HC Wainwright boosted their price objective on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th.

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Hedge Funds Weigh In On First Majestic Silver

A number of hedge funds and other institutional investors have recently modified their holdings of AG. Sprott Inc. grew its stake in First Majestic Silver by 51.8% during the 3rd quarter. Sprott Inc. now owns 2,036,679 shares of the mining company’s stock worth $24,974,000 after buying an additional 695,391 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in shares of First Majestic Silver by 891.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock valued at $3,008,000 after buying an additional 220,056 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in First Majestic Silver in the 4th quarter worth approximately $1,514,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of First Majestic Silver by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock valued at $232,539,000 after purchasing an additional 5,265,612 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in First Majestic Silver by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock worth $316,914,000 after buying an additional 945,067 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Trading Down 5.2%

AG opened at $16.41 on Wednesday. First Majestic Silver has a one year low of $7.74 and a one year high of $32.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 27.36 and a beta of 0.91. The stock’s 50 day moving average price is $19.10 and its 200-day moving average price is $20.92.

First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last posted its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share (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 for the quarter, compared to analysts’ expectations of $522.00 million. During the same quarter in the previous year, the firm earned $0.05 EPS. First Majestic Silver’s revenue was up 95.3% compared to the same quarter last year. On average, equities analysts forecast that First Majestic Silver will post 0.74 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.0171 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is currently 11.67%.

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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