Brokerages Set First Majestic Silver Corp. (NYSE:AG) PT at $17.33

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

A number of analysts have issued reports on AG shares. National Bank Financial upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Sunday, October 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, October 8th. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. Scotiabank boosted their price target on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Finally, HC Wainwright set a $17.50 price objective on First Majestic Silver in a research note on Friday, October 10th.

Institutional Trading of First Majestic Silver

Hedge funds have recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new position in First Majestic Silver during the 3rd quarter worth approximately $28,000. Sound Income Strategies LLC lifted its position in shares of First Majestic Silver by 29,900.0% during the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock worth $37,000 after purchasing an additional 2,990 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of First Majestic Silver by 33.2% during the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after purchasing an additional 971 shares in the last quarter. AlphaQuest LLC purchased a new position in First Majestic Silver in the first quarter valued at $29,000. Finally, Quarry LP acquired a new stake in First Majestic Silver in the third quarter valued at $57,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Down 0.3%

Shares of NYSE AG opened at $16.36 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $13.48 and its two-hundred day moving average is $10.71. First Majestic Silver has a 52-week low of $5.09 and a 52-week high of $17.37. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 116.83 and a beta of 0.84.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $429.78 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 95.3% compared to the same quarter last year. Research analysts predict that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.0052 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, November 14th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is 14.29%.

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.