First Majestic Silver Corp. (NYSE:AG – Get Free Report) (TSE:FR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $6.16, but opened at $5.94. First Majestic Silver shares last traded at $6.09, with a volume of 885,301 shares traded.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a research note on Friday. Scotiabank boosted their price target on First Majestic Silver from $5.50 to $6.50 and gave the company a “sector perform” rating in a report on Thursday, May 23rd.
First Majestic Silver Stock Performance
The business’s 50-day moving average price is $6.63 and its 200-day moving average price is $6.02. The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.77 billion, a PE ratio of -38.19 and a beta of 1.32.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last announced its quarterly earnings data on Wednesday, May 8th. The mining company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. The business had revenue of $106.01 million for the quarter. As a group, equities research analysts expect that First Majestic Silver Corp. will post -0.04 earnings per share for the current fiscal year.
First Majestic Silver Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a dividend of $0.004 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Thursday, May 16th. First Majestic Silver’s payout ratio is -6.25%.
Institutional Trading of First Majestic Silver
Several hedge funds have recently made changes to their positions in the business. Creekmur Asset Management LLC acquired a new stake in First Majestic Silver in the fourth quarter valued at $43,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Majestic Silver in the 1st quarter valued at approximately $48,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of First Majestic Silver in the 1st quarter valued at approximately $62,000. Capstone Investment Advisors LLC acquired a new stake in First Majestic Silver in the fourth quarter worth $69,000. Finally, Capital Management Associates Inc bought a new position in First Majestic Silver during the fourth quarter valued at about $92,000. Institutional investors and hedge funds own 27.16% of the company’s stock.
About First Majestic Silver
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.
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