First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) declared a quarterly dividend on Friday, May 13th, Wall Street Journal reports. Shareholders of record on Wednesday, May 25th will be given a dividend of 0.006 per share by the mining company on Friday, June 10th. This represents a $0.02 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Tuesday, May 24th.
First Majestic Silver has a payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 5.6%.
AG traded up $0.74 during mid-day trading on Friday, reaching $8.17. 495,523 shares of the stock were exchanged, compared to its average volume of 6,037,545. The stock has a market capitalization of $2.14 billion, a PE ratio of -405.30 and a beta of 1.01. First Majestic Silver has a 1 year low of $7.24 and a 1 year high of $18.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.95 and a current ratio of 2.30. The company has a 50 day moving average price of $12.38 and a two-hundred day moving average price of $11.84.
A number of equities research analysts have recently commented on the company. TheStreet cut First Majestic Silver from a “c” rating to a “d+” rating in a research note on Friday, April 22nd. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of First Majestic Silver in a research note on Tuesday, April 19th. StockNews.com initiated coverage on First Majestic Silver in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research upgraded First Majestic Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 22nd. Finally, National Bank Financial boosted their price objective on First Majestic Silver from C$17.00 to C$18.00 in a research note on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.63.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of First Majestic Silver by 2.9% during the first quarter. Vanguard Group Inc. now owns 7,268,464 shares of the mining company’s stock valued at $95,654,000 after buying an additional 205,369 shares during the period. Morgan Stanley increased its position in shares of First Majestic Silver by 7.0% during the second quarter. Morgan Stanley now owns 1,551,886 shares of the mining company’s stock valued at $24,535,000 after buying an additional 101,662 shares during the period. Dimensional Fund Advisors LP increased its position in shares of First Majestic Silver by 127.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company’s stock valued at $17,408,000 after buying an additional 740,867 shares during the period. Millennium Management LLC grew its holdings in shares of First Majestic Silver by 159.0% during the fourth quarter. Millennium Management LLC now owns 686,498 shares of the mining company’s stock worth $7,627,000 after purchasing an additional 421,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of First Majestic Silver by 248.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 460,321 shares of the mining company’s stock worth $5,114,000 after purchasing an additional 328,105 shares in the last quarter. Hedge funds and other institutional investors own 39.65% of the company’s stock.
About First Majestic Silver (Get Rating)
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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.
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