First Majestic Silver Corp. (NYSE:AG) Stock to Pay Quarterly Dividend of $0.01

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a quarterly dividend on Thursday, November 5th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.0142 per share by the mining company on Monday, November 30th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 16th. This is a 6.6% decrease from First Majestic Silver’s previous quarterly dividend of $0.0152.

First Majestic Silver has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 6.8%.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock traded down $0.56 on Thursday, reaching $14.84. The stock had a trading volume of 18,091,028 shares, compared to its average volume of 15,496,788. First Majestic Silver has a 1 year low of $10.72 and a 1 year high of $32.03. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. The company has a market cap of $7.31 billion, a P/E ratio of 20.89 and a beta of 0.98. The business’s 50 day moving average is $17.88 and its two-hundred day moving average is $19.93.

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently bought and sold shares of AG. Bank of America Corp DE grew its holdings in shares of First Majestic Silver by 92.3% during the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock worth $130,659,000 after acquiring an additional 2,919,008 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of First Majestic Silver during the second quarter valued at approximately $59,610,000. Renaissance Technologies LLC bought a new stake in shares of First Majestic Silver during the first quarter valued at approximately $62,760,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in First Majestic Silver in the second quarter worth $37,926,000. Finally, Hillsdale Investment Management Inc. grew its stake in First Majestic Silver by 2.7% in the first quarter. Hillsdale Investment Management Inc. now owns 1,683,825 shares of the mining company’s stock worth $36,086,000 after purchasing an additional 44,135 shares during the period. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver and gold. The company operates producing mines in Mexico and the United States and sells silver bullion and related products through its in-house First Mint division.

First Majestic’s Mexican operations include the San Dimas Silver/Gold Mine in Durango, the Santa Elena Silver/Gold Mine in Sonora, and the La Encantada Silver Mine in Coahuila. The company also owns the Jerritt Canyon Gold Mine in Nevada, although operations there have been suspended while First Majestic evaluates its future.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its growth strategy on acquiring and developing precious-metals assets in the Americas.