First Majestic Silver (NYSE:AG) Shares Gap Up – Here’s What Happened
by Kim Johansen · The Markets DailyFirst Majestic Silver Corp. (NYSE:AG – Get Free Report) (TSE:FR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $17.21, but opened at $17.77. First Majestic Silver shares last traded at $17.0830, with a volume of 3,608,120 shares traded.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on AG shares. TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, October 8th. 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. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. Finally, Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.33.
Get Our Latest Stock Analysis on First Majestic Silver
First Majestic Silver Price Performance
The business’s 50 day moving average is $13.82 and its two-hundred day moving average is $11.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The firm has a market capitalization of $8.55 billion, a PE ratio of 124.43 and a beta of 0.84.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last announced its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). The company had revenue of $285.10 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 95.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities research analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.
First Majestic Silver Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a $0.0052 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 14th. First Majestic Silver’s dividend payout ratio (DPR) is 14.29%.
Institutional Trading of First Majestic Silver
Several institutional investors and hedge funds have recently bought and sold shares of AG. Tudor Investment Corp ET AL boosted its holdings in First Majestic Silver by 891.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock valued at $3,008,000 after purchasing an additional 220,056 shares during the period. Swiss Life Asset Management Ltd raised its position in shares of First Majestic Silver by 92.0% in the third quarter. Swiss Life Asset Management Ltd now owns 21,538 shares of the mining company’s stock worth $265,000 after buying an additional 10,318 shares in the last quarter. Cantor Fitzgerald L. P. bought a new stake in First Majestic Silver during the third quarter valued at $318,000. Advisory Services Network LLC purchased a new position in First Majestic Silver during the third quarter worth about $344,000. Finally, Kestra Private Wealth Services LLC increased its stake in First Majestic Silver by 15.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,071 shares of the mining company’s stock worth $284,000 after acquiring an additional 3,008 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.
About First Majestic Silver
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.