First Majestic Silver (NYSE:AG) Reaches New 52-Week High – Should You Buy?

by · The Cerbat Gem

Shares of First Majestic Silver Corp. (NYSE:AG – Get Free Report) (TSE:FR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $15.99 and last traded at $15.4160, with a volume of 5720222 shares trading hands. The stock had previously closed at $15.23.

Analyst Upgrades and Downgrades

AG has been the subject of a number of analyst reports. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. National Bank Financial raised shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 5th. TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, October 8th. Finally, Scotiabank increased their price objective on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. One equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.33.

View Our Latest Analysis on First Majestic Silver

First Majestic Silver Price Performance

The company has a market cap of $7.77 billion, a P/E ratio of -1,582.82 and a beta of 0.79. The firm’s 50-day moving average is $12.60 and its two-hundred day moving average is $9.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84.

First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last issued its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The company had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $429.78 million. During the same quarter last year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 95.3% on a year-over-year basis. Analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently announced 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. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 14th. First Majestic Silver’s dividend payout ratio is 14.29%.

Institutional Trading of First Majestic Silver

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of First Majestic Silver by 32.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock valued at $531,234,000 after buying an additional 10,471,543 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of First Majestic Silver by 74.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock worth $112,880,000 after acquiring an additional 5,821,751 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in First Majestic Silver during the third quarter valued at approximately $55,071,000. Sprott Inc. boosted its stake in First Majestic Silver by 603.8% in the first quarter. Sprott Inc. now owns 4,612,904 shares of the mining company’s stock valued at $30,856,000 after acquiring an additional 3,957,459 shares in the last quarter. Finally, Alps Advisors Inc. boosted its stake in First Majestic Silver by 108.7% in the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock valued at $88,527,000 after acquiring an additional 3,751,376 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

About First Majestic Silver

(Get Free Report)

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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