First Majestic Silver (NYSE:AG) Price Target Raised to $12.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its price target lifted by Scotiabank from $9.00 to $12.50 in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a sector perform rating on the mining company’s stock.

A number of other research firms also recently commented on AG. National Bank Financial raised shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Wall Street Zen raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, October 8th. TD Securities raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. Finally, HC Wainwright set a $17.50 target price on shares of First Majestic Silver in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Majestic Silver presently has an average rating of “Moderate Buy” and a consensus target price of $17.33.

First Majestic Silver Trading Down 0.2%

Shares of NYSE:AG opened at $12.87 on Thursday. First Majestic Silver has a 52 week low of $5.09 and a 52 week high of $15.69. The company’s 50 day moving average is $11.21 and its two-hundred day moving average is $8.74. The company has a current ratio of 3.27, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $6.30 billion, a PE ratio of -1,285.21 and a beta of 0.76.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million during the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The company’s quarterly revenue was up 94.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS. Equities analysts predict that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.0048 per share. The ex-dividend date was Friday, August 29th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. First Majestic Silver’s dividend payout ratio is currently -200.00%.

Institutional Trading of First Majestic Silver

Large investors have recently bought and sold shares of the business. AlphaQuest LLC acquired a new stake in First Majestic Silver during the 1st quarter worth $29,000. Sound Income Strategies LLC raised its position in 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 buying an additional 2,990 shares during the last quarter. CWM LLC raised its position in First Majestic Silver by 57.2% during the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock worth $42,000 after buying an additional 1,860 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in First Majestic Silver during the 1st quarter worth $46,000. Finally, AdvisorNet Financial Inc raised its position in First Majestic Silver by 33.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after buying an additional 971 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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.