First Majestic Silver (NYSE:AG) Raised to Hold at TD Securities

TD Securities upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) to a hold rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts also recently issued reports on AG. Scotiabank decreased their price target on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. Finally, StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.50.

First Majestic Silver Stock Up 0.1 %

Shares of NYSE:AG opened at $6.14 on Monday. First Majestic Silver has a fifty-two week low of $4.43 and a fifty-two week high of $8.44. The firm’s 50 day moving average price is $5.69 and its 200 day moving average price is $6.04. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -17.53 and a beta of 1.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. As a group, equities research analysts predict that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.0057 dividend. This represents a $0.02 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is currently -5.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AG. Franklin Resources Inc. boosted its holdings in shares of First Majestic Silver by 8.3% in the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company’s stock valued at $128,000 after acquiring an additional 1,776 shares during the period. Toronto Dominion Bank boosted its stake in First Majestic Silver by 6.7% during the 3rd quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock worth $176,000 after purchasing an additional 1,855 shares during the period. CIBC Asset Management Inc boosted its stake in First Majestic Silver by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company’s stock worth $2,030,000 after purchasing an additional 2,288 shares during the period. Rathbones Group PLC grew its position in First Majestic Silver by 4.3% during the 4th quarter. Rathbones Group PLC now owns 56,852 shares of the mining company’s stock worth $312,000 after purchasing an additional 2,325 shares during the last quarter. Finally, Moors & Cabot Inc. increased its stake in First Majestic Silver by 19.6% in the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company’s stock valued at $94,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors 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.