First Majestic Silver Corp. (NYSE:AG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been assigned a consensus rating of “Hold” from the four research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.50.

A number of research analysts have issued reports on AG shares. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of First Majestic Silver in a research report on Friday, February 21st. TD Securities raised First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. Finally, Scotiabank reiterated a “sector perform” rating and set a $6.00 price objective on shares of First Majestic Silver in a report on Wednesday, April 2nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in 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 buying an additional 1,776 shares during the last quarter. Toronto Dominion Bank increased its stake in First Majestic Silver by 6.7% during the third quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock valued at $176,000 after purchasing an additional 1,855 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of First Majestic Silver by 0.6% during the fourth 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 shares of First Majestic Silver by 4.3% during the 4th quarter. Rathbones Group PLC now owns 56,852 shares of the mining company’s stock valued at $312,000 after buying an additional 2,325 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings 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 worth $94,000 after acquiring an additional 2,800 shares during the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Stock Up 4.2 %

AG stock opened at $6.28 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The company’s 50 day simple moving average is $6.04 and its 200-day simple moving average is $6.17. First Majestic Silver has a 12 month low of $4.43 and a 12 month high of $8.44. The firm has a market capitalization of $3.04 billion, a PE ratio of -17.93 and a beta of 0.97.

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

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.0057 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, February 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.36%. First Majestic Silver’s payout ratio is presently -5.71%.

First Majestic Silver Company Profile

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.