First Majestic Silver Corp. shares (NYSE:AG – Get Rating) (TSE:FR) have been given a consensus rating of “Hold” from the seven rating agencies currently covering the stock, reports MarketBeat Ratings. One research analyst has rated the stock with a sell rating and two have assigned a buy rating to the company. The average 12-month target price among brokers who have rated the stock over the past year is $11.44.
AG has been the subject of a number of analyst reports. TheStreet downgraded First Majestic Silver from a “c” rating to a “d+” rating in a research report on Friday, April 22nd. National Bank Financial lowered its price target for First Majestic Silver from C$18.00 to C$11.75 in a research note on Thursday, July 21. HC Wainwright lowered its price target on First Majestic Silver to $12.50 from $19.50 and issued a research note with a buy rating for the company on Monday, July 25. TD Securities lowered its price target for First Majestic Silver from $20.00 to $12.00 in a research note on Friday, May 13. Finally, BMO Capital Markets lowered its price target on First Majestic Silver from C$10.00 to C$9.50 in a research note on Monday, July 25th.
Price history of First Majestic Silver
Shares of the AG opened at $7.68 on Thursday. First Majestic Silver has a 1 year low of $6.31 and a 1 year high of $14.67. The company has a gearing ratio of 0.16, a current ratio of 2.46 and a quick ratio of 1.98. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -20.21 and a beta of 1.02. The company has a 50-day moving average of $7.57 and a 200-day moving average of $9.98.
First Majestic Silver raises dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 16 will receive a dividend of $0.0061. That equates to a dividend of $0.02 on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Monday August 15th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s Dividend Payout Ratio (DPR) is -5.26%.
Institutional investors rely on First Majestic Silver
A number of hedge funds have recently added to or reduced their holdings in AGs. Steward Partners Investment Advisory LLC increased its position in shares of First Majestic Silver by 203.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,950 shares of the miner’s stock, valued at $28,000, after purchasing an additional 2,650 shares last quarter. Newbridge Financial Services Group Inc. increased its position in shares of First Majestic Silver by 450.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the miner’s stock, valued at $39,000, after buying another 4,500 shares last quarter. Rational Advisors LLC increased its holding in First Majestic Silver by 68.7% during the first quarter. Rational Advisors LLC now owns 3,140 shares of the $41,000 mining company, having purchased an additional 1,279 shares during the period. Captrust Financial Advisors increased its holding in First Majestic Silver by 589.5% during the second quarter. Captrust Financial Advisors now owns 8,515 shares of the $61,000 mining company, having purchased an additional 7,280 shares during this period. Finally, JPMorgan Chase & Co. increased its holding in First Majestic Silver by 5,383.0% during the first quarter. JPMorgan Chase & Co. now owns 4,825 shares of the $63,000 miner, having acquired an additional 4,737 shares during the period. Institutional investors and hedge funds own 39.65% of the company’s shares.
About First Majestic Silver
(received rating)
First Majestic Silver Corp. is engaged in the acquisition, exploration, development and production of mineral properties focused on silver and gold production in North America. It holds 100% interest in the 71,868 hectare San Dimas silver/gold mine located in Durango and Sinaloa states; the 102,244 hectare Santa Elena silver/gold mine in Sonora; Jerritt Canyon Gold Mine, covering approximately 30,821 hectares in Elko County, Nevada; and the La Encantada Silver Mine covering 4,076 hectares in Coahuila and 1,343 hectares of surface land holdings.
Selected items
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