First Majestic Silver (NYSE:AG) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a report issued on Friday, Benzinga reports. The brokerage currently has a $8.50 target price on the mining company’s stock.

Separately, Scotiabank lifted their price objective on First Majestic Silver from $5.50 to $6.50 and gave the company a sector perform rating in a research note on Thursday, May 23rd.

First Majestic Silver Stock Down 0.8 %

Shares of AG opened at $6.11 on Friday. First Majestic Silver has a fifty-two week low of $4.17 and a fifty-two week high of $8.44. The company’s fifty day moving average is $6.63 and its two-hundred day moving average is $6.02. The firm has a market cap of $1.77 billion, a PE ratio of -38.19 and a beta of 1.32. The company has a quick ratio of 1.77, a current ratio of 2.33 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results 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 return on equity of 3.28% and a negative net margin of 9.18%. The firm had revenue of $106.01 million during the quarter. Analysts forecast that First Majestic Silver will post -0.04 earnings per share for the current year.

First Majestic Silver Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AG. Creekmur Asset Management LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at about $43,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Majestic Silver in the first quarter valued at approximately $48,000. B. Riley Wealth Advisors Inc. acquired a new stake in First Majestic Silver in the first quarter valued at approximately $62,000. Capstone Investment Advisors LLC purchased a new stake in shares of First Majestic Silver during the fourth quarter valued at approximately $69,000. Finally, Capital Management Associates Inc acquired a new position in shares of First Majestic Silver during the fourth quarter worth $92,000. 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.