First Majestic Silver (NYSE:AG) Price Target Raised to $11.50 at HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR) had its price objective hoisted by HC Wainwright from $11.00 to $11.50 in a report issued on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the mining company’s stock.

A number of other equities analysts also recently commented on the company. Scotiabank restated a “sector perform” rating and issued a $6.00 price objective on shares of First Majestic Silver in a report on Wednesday, April 2nd. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, TD Securities raised shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.75.

First Majestic Silver Stock Up 7.1 %

AG stock opened at $5.90 on Friday. The company has a 50 day moving average of $6.31 and a two-hundred day moving average of $6.13. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. First Majestic Silver has a 12-month low of $4.43 and a 12-month high of $8.09. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -16.86 and a beta of 0.81.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. During the same period in the previous year, the business posted ($0.05) EPS. First Majestic Silver’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, equities analysts anticipate that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.0057 dividend. This represents a $0.02 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, February 28th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

Institutional Investors Weigh In On First Majestic Silver

A number of hedge funds have recently bought and sold shares of AG. Barclays PLC bought a new stake in First Majestic Silver during the 3rd quarter valued at approximately $2,419,000. Geode Capital Management LLC boosted its position in shares of First Majestic Silver by 9.8% in the third quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company’s stock valued at $825,000 after acquiring an additional 12,171 shares during the period. Fiduciary Family Office LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter worth $86,000. Euro Pacific Asset Management LLC grew its stake in shares of First Majestic Silver by 10.9% in the fourth quarter. Euro Pacific Asset Management LLC now owns 45,723 shares of the mining company’s stock worth $262,000 after acquiring an additional 4,512 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in First Majestic Silver by 7.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 98,352 shares of the mining company’s stock worth $540,000 after acquiring an additional 7,000 shares during the period. 27.16% of the stock is currently owned by institutional investors.

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.