First Majestic Silver Corp. (NYSE:AG) Short Interest Update

First Majestic Silver Corp. (NYSE:AGGet Free Report) (TSE:FR) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 17,110,000 shares, a drop of 6.9% from the May 15th total of 18,380,000 shares. Based on an average trading volume of 9,330,000 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Ratings Changes

A number of analysts have weighed in on AG shares. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price objective on shares of First Majestic Silver in a research report on Thursday, May 9th. StockNews.com raised First Majestic Silver to a “sell” rating in a research note on Monday, February 26th. Finally, Scotiabank increased their target price on First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd.

Check Out Our Latest Stock Analysis on First Majestic Silver

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of AG. Cetera Advisors LLC boosted its holdings in shares of First Majestic Silver by 3.1% during the first quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock worth $315,000 after purchasing an additional 1,601 shares during the last quarter. Virtu Financial LLC acquired a new position in First Majestic Silver in the first quarter valued at $1,373,000. Tidal Investments LLC boosted its holdings in First Majestic Silver by 6,929.4% in the first quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company’s stock valued at $30,406,000 after acquiring an additional 5,101,271 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in First Majestic Silver in the first quarter valued at $62,000. Finally, Bayesian Capital Management LP boosted its holdings in First Majestic Silver by 93.9% in the first quarter. Bayesian Capital Management LP now owns 61,300 shares of the mining company’s stock valued at $360,000 after acquiring an additional 29,686 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

NYSE AG traded up $0.11 during mid-day trading on Wednesday, hitting $6.15. The stock had a trading volume of 3,701,846 shares, compared to its average volume of 6,132,843. First Majestic Silver has a 52-week low of $4.17 and a 52-week high of $8.44. The company has a 50 day simple moving average of $6.99 and a 200 day simple moving average of $5.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.33.

First Majestic Silver (NYSE:AGGet Free Report) (TSE:FR) last released its quarterly earnings data on Wednesday, May 8th. The mining company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. The firm had revenue of $106.01 million during the quarter. On average, equities research analysts predict that First Majestic Silver will post -0.03 EPS for the current year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were given a dividend of $0.004 per share. This represents a $0.02 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Thursday, May 16th. First Majestic Silver’s payout ratio is -6.25%.

First Majestic Silver Company Profile

(Get Free Report)

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.

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