First Majestic Silver (NYSE:AG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other brokerages have also recently issued reports on AG. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. BMO Capital Markets reissued a “market perform” rating on shares of First Majestic Silver in a research note on Friday, January 16th. HC Wainwright lifted their target price on First Majestic Silver to $30.00 and gave the stock a “buy” rating in a report on Friday. Finally, Scotiabank upped their target price on First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, First Majestic Silver presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

First Majestic Silver Stock Up 3.8%

AG stock opened at $28.61 on Friday. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 81.75 and a beta of 0.84. The firm’s 50-day moving average is $20.76 and its two-hundred day moving average is $14.98. First Majestic Silver has a 52 week low of $5.09 and a 52 week high of $29.49.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The business had revenue of $463.92 million during the quarter, compared to analysts’ expectations of $561.30 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 169.2% on a year-over-year basis. On average, analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.0083 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, February 27th. First Majestic Silver’s dividend payout ratio is presently 5.71%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently bought and sold shares of AG. Lodestone Wealth Management LLC bought a new stake in First Majestic Silver during the fourth quarter worth approximately $25,000. EFG International AG bought a new stake in First Majestic Silver in the fourth quarter valued at $25,000. Spire Wealth Management bought a new position in shares of First Majestic Silver during the fourth quarter valued at $35,000. Bogart Wealth LLC acquired a new stake in shares of First Majestic Silver in the 3rd quarter valued at $28,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of First Majestic Silver in the 4th quarter worth about $42,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

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.