First Majestic Silver (NYSE:AG) Shares Gap Down to $6.73

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down prior to trading on Monday . The stock had previously closed at $6.73, but opened at $6.27. First Majestic Silver shares last traded at $6.66, with a volume of 4,650,866 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AG. HC Wainwright lifted their price target on shares of First Majestic Silver from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com upgraded First Majestic Silver to a “sell” rating in a research note on Monday, February 26th.

First Majestic Silver Trading Up 4.1 %

The firm has a 50-day simple moving average of $5.80 and a 200-day simple moving average of $5.52. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 22nd. The mining company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. The firm had revenue of $136.95 million for the quarter. During the same quarter in the previous year, the company earned ($0.07) EPS. As a group, equities research analysts expect that First Majestic Silver Corp. will post -0.01 EPS for the current year.

First Majestic Silver Increases Dividend

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

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds have recently modified their holdings of the company. CWM LLC lifted its position in shares of First Majestic Silver by 59.7% during the 3rd quarter. CWM LLC now owns 5,433 shares of the mining company’s stock valued at $28,000 after buying an additional 2,030 shares in the last quarter. SG Americas Securities LLC purchased a new position in First Majestic Silver during the third quarter valued at $398,000. Cambridge Investment Research Advisors Inc. grew its position in shares of First Majestic Silver by 32.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 39,831 shares of the mining company’s stock valued at $204,000 after purchasing an additional 9,675 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in shares of First Majestic Silver during the 3rd quarter worth about $77,000. Finally, Raymond James & Associates lifted its stake in First Majestic Silver by 12.7% in the 3rd quarter. Raymond James & Associates now owns 442,418 shares of the mining company’s stock valued at $2,270,000 after buying an additional 49,853 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

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.