First Majestic Silver (TSE:AG) Announces Quarterly Earnings Results

First Majestic Silver (TSE:AG) issued its quarterly earnings data on Thursday. The company reported C$0.27 earnings per share (EPS) for the quarter, FiscalAI reports. First Majestic Silver had a net margin of 21.09% and a return on equity of 12.27%. The company had revenue of C$561.06 million during the quarter.

First Majestic Silver Trading Down 3.1%

Shares of AG opened at C$20.84 on Friday. The stock has a 50 day moving average of C$24.94 and a 200-day moving average of C$27.59. First Majestic Silver has a 52 week low of C$15.13 and a 52 week high of C$43.69. The firm has a market cap of C$10.28 billion, a price-to-earnings ratio of 29.77 and a beta of 2.96.

First Majestic Silver Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.0142 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. This is a drop from First Majestic Silver’s previous quarterly dividend of $0.0152. First Majestic Silver’s dividend payout ratio (DPR) is 5.06%.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$36.00 to C$37.00 in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, First Majestic Silver currently has a consensus rating of “Moderate Buy” and an average target price of C$36.00.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine, which the Company is currently in the process of re-starting.