First Majestic Silver (NYSE:AG) Price Target Cut to $6.00 by Analysts at Scotiabank

First Majestic Silver (NYSE:AG) (TSE:FR) had its target price decreased by Scotiabank from $6.50 to $6.00 in a research report released on Wednesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the mining company’s stock. Scotiabank also issued estimates for First Majestic Silver’s FY2024 earnings at ($0.15) EPS and FY2025 earnings at $0.18 EPS.

Separately, HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a report on Friday, January 10th.

First Majestic Silver Trading Up 0.7 %

First Majestic Silver stock opened at $5.68 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The stock has a market cap of $1.71 billion, a PE ratio of -21.04 and a beta of 1.25. The stock has a 50-day moving average of $6.02 and a two-hundred day moving average of $6.09. First Majestic Silver has a one year low of $4.17 and a one year high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.12). The company had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. On average, research analysts anticipate that First Majestic Silver will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.0048 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.34%. First Majestic Silver’s dividend payout ratio (DPR) is currently -7.41%.

Institutional Trading of First Majestic Silver

Large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new position in First Majestic Silver during the second quarter valued at $325,000. Rathbones Group PLC lifted its holdings in shares of First Majestic Silver by 15.9% in the 2nd quarter. Rathbones Group PLC now owns 54,107 shares of the mining company’s stock valued at $320,000 after buying an additional 7,415 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First Majestic Silver by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock worth $18,701,000 after buying an additional 103,232 shares during the last quarter. Hsbc Holdings PLC grew its holdings in First Majestic Silver by 7.7% during the second quarter. Hsbc Holdings PLC now owns 103,002 shares of the mining company’s stock worth $610,000 after acquiring an additional 7,371 shares during the period. Finally, Seven Eight Capital LP purchased a new position in First Majestic Silver during the second quarter valued at approximately $1,025,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

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.