First Majestic Silver Corp. (NYSE:AG) Receives Average Rating of “Moderate Buy” from Analysts

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.3333.

Several analysts have recently commented on AG shares. National Bankshares set a $22.00 price target on shares of First Majestic Silver and gave the company an “outperform” rating in a research note on Monday, October 6th. National Bank Financial raised First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 5th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. Scotiabank boosted their target price on First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of First Majestic Silver in a research note on Tuesday, October 7th.

First Majestic Silver Stock Up 8.5%

AG stock opened at $12.07 on Tuesday. First Majestic Silver has a twelve month low of $5.09 and a twelve month high of $15.69. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08. The company has a market cap of $5.93 billion, a PE ratio of -1,205.69 and a beta of 0.79. The business’s 50-day simple moving average is $12.32 and its 200 day simple moving average is $9.62.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. During the same period in the previous year, the business posted ($0.09) earnings per share. First Majestic Silver’s revenue was up 95.3% on a year-over-year basis. On average, research analysts anticipate that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.0052 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, November 14th. First Majestic Silver’s dividend payout ratio is currently 14.29%.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in First Majestic Silver by 32.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock valued at $531,234,000 after acquiring an additional 10,471,543 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of First Majestic Silver in the 1st quarter valued at about $47,656,000. Jupiter Asset Management Ltd. bought a new stake in shares of First Majestic Silver in the first quarter valued at about $46,070,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Majestic Silver by 74.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock valued at $112,880,000 after purchasing an additional 5,821,751 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of First Majestic Silver during the third quarter worth about $55,071,000. 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.