First Majestic Silver Corp. (NYSE:AG – Get Free Report) (TSE:FR) was the target of unusually large options trading activity on Monday. Stock traders acquired 58,676 put options on the company. This is an increase of approximately 43% compared to the typical volume of 41,176 put options.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of AG. Oxbow Advisors LLC acquired a new stake in First Majestic Silver during the second quarter worth about $686,000. Auxano Advisors LLC bought a new position in shares of First Majestic Silver during the second quarter valued at approximately $509,000. BlackRock Inc. bought a new position in shares of First Majestic Silver during the second quarter valued at approximately $3,515,000. Deutsche Bank AG acquired a new stake in shares of First Majestic Silver during the 2nd quarter worth approximately $702,000. Finally, Trust Co. of Vermont acquired a new stake in shares of First Majestic Silver during the 2nd quarter worth approximately $61,000. 27.16% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. HC Wainwright upped their price target on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Scotiabank reduced their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.83.
First Majestic Silver Stock Performance
Shares of NYSE AG traded up $0.37 during trading on Monday, reaching $18.77. The stock had a trading volume of 5,269,364 shares, compared to its average volume of 17,782,936. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. The stock has a market cap of $9.25 billion, a PE ratio of 26.49 and a beta of 0.94. First Majestic Silver has a one year low of $8.28 and a one year high of $32.03. The firm’s 50 day moving average price is $17.14 and its two-hundred day moving average price is $20.65.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $415.50 million for the quarter, compared to the consensus estimate of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share. On average, research analysts forecast that First Majestic Silver will post 0.81 earnings per share for the current fiscal year.
First Majestic Silver Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, August 14th. First Majestic Silver’s dividend payout ratio (DPR) is presently 8.45%.
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.
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