First Majestic Silver Corp. (NYSE:AG) Raises Dividend to $0.00 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.0048 per share by the mining company on Friday, November 29th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, November 15th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.0046.

First Majestic Silver has a dividend payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Majestic Silver to earn $0.21 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 9.5%.

First Majestic Silver Stock Down 4.3 %

Shares of AG traded down $0.29 during mid-day trading on Friday, reaching $6.47. The company’s stock had a trading volume of 7,851,226 shares, compared to its average volume of 8,277,230. The business has a fifty day moving average of $6.40 and a 200 day moving average of $6.37. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -23.96 and a beta of 1.31. First Majestic Silver has a 1 year low of $4.17 and a 1 year high of $8.44. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The business had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. As a group, analysts forecast that First Majestic Silver will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on AG. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, September 6th. HC Wainwright reiterated a “buy” rating and set a $8.50 price objective on shares of First Majestic Silver in a report on Friday, October 18th.

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.