First Majestic Silver Corp. (NYSE:AG) Receives $23.50 Average PT from Brokerages

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.8333.

Several brokerages have commented on AG. HC Wainwright upped their price objective on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. Scotiabank dropped their target price on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lodestone Wealth Management LLC purchased a new position in shares of First Majestic Silver in the 4th quarter valued at approximately $25,000. Harbor Investment Advisory LLC purchased a new stake in First Majestic Silver in the first quarter worth $32,000. EFG International AG bought a new position in First Majestic Silver in the fourth quarter worth $25,000. PNC Financial Services Group Inc. raised its holdings in First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after purchasing an additional 978 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in First Majestic Silver during the fourth quarter valued at $35,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

AG opened at $15.02 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. The stock has a market capitalization of $7.41 billion, a PE ratio of 21.16 and a beta of 0.91. The stock’s 50 day moving average price is $17.45 and its 200-day moving average price is $20.77. First Majestic Silver has a 52-week low of $7.74 and a 52-week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a return on equity of 13.58% and a net margin of 21.18%.The business’s revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. On average, equities research analysts predict that First Majestic Silver will post 0.8 EPS for the current year.

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.0152 per share. This represents a $0.06 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver’s payout ratio is presently 9.86%.

First Majestic Silver News Roundup

Here are the key news stories impacting First Majestic Silver this week:

• Positive Sentiment: HC Wainwright raised its price target to $27 from $26 and reiterated a “buy” rating, implying substantial upside from recent levels. HC Wainwright price target increase
• Positive Sentiment: Analyst sentiment remains favorable, with the average price target reported at $23.50 and Seeking Alpha upgrading the stock to Buy, citing a discount to estimated intrinsic value and potential for a silver-price re-rating. Analyst average price target
• Positive Sentiment: Second-quarter free cash flow reached $194.6 million, while EBITDA rose 110% to $252 million. The company also reported a $1.09 billion cash position in one analysis, or approximately $1.3 billion including its broader treasury, strengthening its ability to fund reinvestment, acquisitions and other growth initiatives. First Majestic second-quarter free cash flow
• Neutral Sentiment: First Majestic declared a quarterly dividend of $0.0152 per share, payable August 31 to shareholders of record August 14. The payout provides income support, although its annualized yield is modest at about 0.4%.
• Negative Sentiment: Reported second-quarter EPS of $0.21 missed the $0.25 consensus estimate, while revenue of $415.5 million came in below the $496 million forecast. Although revenue increased 57.3% year over year, the shortfall may be driving near-term selling pressure. First Majestic earnings report
• Negative Sentiment: The earnings call highlighted labor disruptions, higher costs and inventory accumulation caused by silver-price volatility, creating execution and margin risks despite record revenue and strong profitability.

About First Majestic Silver

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.