First Majestic Silver Corp. (AG) To Go Ex-Dividend on May 16th

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a dividend on Friday, May 16th, investing.com reports. Stockholders of record on Monday, May 19th will be paid a dividend of 0.0045 per share by the mining company on Friday, May 30th. This represents a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, May 16th.

First Majestic Silver has increased its dividend payment by an average of 5.1% per year over the last three years. First Majestic Silver has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Majestic Silver to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 2.5%.

First Majestic Silver Trading Down 0.8%

Shares of NYSE:AG opened at $5.62 on Friday. First Majestic Silver has a 1 year low of $4.43 and a 1 year high of $8.09. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -16.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The business’s 50 day moving average price is $6.29 and its 200-day moving average price is $6.05.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results 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 business had revenue of $241.12 million for the quarter, compared to analysts’ expectations of $358.65 million. During the same quarter last year, the business earned ($0.05) EPS. The company’s quarterly revenue was up 41.6% on a year-over-year basis. On average, equities research analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AG. National Bankshares reiterated a “sector perform” rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. 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. HC Wainwright raised their price objective on First Majestic Silver from $11.00 to $11.50 and gave the company a “buy” rating in a report on Friday, May 9th. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, TD Securities upgraded First Majestic Silver to a “hold” rating in a report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, First Majestic Silver currently has an average rating of “Hold” and a consensus price target of $8.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Majestic Silver stock. Royal Bank of Canada lifted its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 77.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 604,186 shares of the mining company’s stock after acquiring an additional 263,688 shares during the period. Royal Bank of Canada owned 0.12% of First Majestic Silver worth $4,042,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.