First Majestic Silver (NYSE:AG) Shares Gap Down – Time to Sell?

by · The Cerbat Gem

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 $25.17, but opened at $22.37. First Majestic Silver shares last traded at $22.9190, with a volume of 6,158,133 shares changing hands.

Wall Street Analysts Forecast Growth

AG has been the subject of a number of recent analyst reports. HC Wainwright increased their target price on shares of First Majestic Silver from $17.50 to $24.50 and gave the stock a “buy” rating in a research report on Friday, January 16th. Scotiabank raised their price objective on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a report on Monday. TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. Finally, National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.17.

View Our Latest Research Report on AG

First Majestic Silver Price Performance

The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 158.37 and a beta of 0.77. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $17.90 and a 200 day moving average price of $13.18.

First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last posted its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). The firm had revenue of $285.10 million during the quarter, compared to the consensus estimate of $429.78 million. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. First Majestic Silver’s revenue was up 95.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) EPS. As a group, equities research analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.0052 per share. The ex-dividend date was Friday, November 14th. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is presently 14.29%.

Institutional Trading of First Majestic Silver

A number of institutional investors have recently bought and sold shares of AG. Moors & Cabot Inc. lifted its stake in shares of First Majestic Silver by 2.8% in the 3rd quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock valued at $434,000 after purchasing an additional 945 shares during the period. AdvisorNet Financial Inc lifted its stake in First Majestic Silver by 33.2% in the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock valued at $48,000 after buying an additional 971 shares during the period. Signaturefd LLC boosted its holdings in First Majestic Silver by 4.7% during the third quarter. Signaturefd LLC now owns 22,275 shares of the mining company’s stock worth $274,000 after buying an additional 1,008 shares during the last quarter. Choreo LLC boosted its holdings in First Majestic Silver by 1.7% during the fourth quarter. Choreo LLC now owns 72,628 shares of the mining company’s stock worth $1,230,000 after buying an additional 1,216 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of First Majestic Silver by 6.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company’s stock worth $185,000 after buying an additional 1,282 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

(Get Free Report)

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.

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