First Majestic Silver (NYSE:AG) Shares Gap Down to $7.49

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $7.49, but opened at $7.20. First Majestic Silver shares last traded at $6.86, with a volume of 5,339,419 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AG. HC Wainwright cut their price target on shares of First Majestic Silver from $12.00 to $6.75 and set a “buy” rating on the stock in a research note on Friday, January 19th. StockNews.com raised First Majestic Silver to a “sell” rating in a research report on Monday, February 26th.

First Majestic Silver Stock Performance

The stock’s 50-day moving average is $5.62 and its 200-day moving average is $5.48. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -14.26 and a beta of 1.43.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $136.95 million during the quarter. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. On average, analysts expect that First Majestic Silver Corp. will post -0.06 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, March 13th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently -4.17%.

Institutional Investors Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of AG. JPMorgan Chase & Co. lifted its position in First Majestic Silver by 5,383.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock worth $63,000 after acquiring an additional 4,737 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of First Majestic Silver by 52.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 46,051 shares of the mining company’s stock worth $606,000 after purchasing an additional 15,787 shares in the last quarter. Citigroup Inc. purchased a new position in shares of First Majestic Silver in the first quarter valued at $87,000. Dimensional Fund Advisors LP grew its holdings in First Majestic Silver by 127.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company’s stock valued at $17,408,000 after purchasing an additional 740,867 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in First Majestic Silver during the 1st quarter worth $142,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.