First Majestic Silver (NYSE:AG) Shares Down 2.3% - Time to Sell?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price dropped 2.3% on Tuesday . The stock traded as low as $6.27 and last traded at $6.31. Approximately 15,305,555 shares changed hands during trading, an increase of 30% from the average daily volume of 11,787,725 shares. The stock had previously closed at $6.46.

Analyst Ratings Changes

Several analysts have issued reports on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. HC Wainwright restated a "buy" rating and issued a $11.00 price objective on shares of First Majestic Silver in a research report on Friday, February 21st. Scotiabank reissued a "sector perform" rating and issued a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. TD Securities upgraded shares of First Majestic Silver to a "hold" rating in a report on Monday, March 10th. Finally, StockNews.com upgraded shares of First Majestic Silver from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.50.

First Majestic Silver Stock Performance

The stock's 50 day moving average price is $6.18 and its 200 day moving average price is $6.18. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -17.67 and a beta of 0.97. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million for the quarter, compared to analysts' expectations of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. On average, analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.0057 per share. The ex-dividend date was Friday, February 28th. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.37%. First Majestic Silver's payout ratio is currently -5.71%.

Institutional Trading of First Majestic Silver

Several institutional investors have recently added to or reduced their stakes in AG. Barclays PLC acquired a new stake in shares of First Majestic Silver in the 3rd quarter valued at about $2,419,000. Realta Investment Advisors boosted its holdings in First Majestic Silver by 16.8% in the fourth quarter. Realta Investment Advisors now owns 497,726 shares of the mining company's stock worth $2,882,000 after purchasing an additional 71,456 shares during the period. Charles Schwab Investment Management Inc. increased its stake in First Majestic Silver by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company's stock valued at $3,109,000 after purchasing an additional 18,219 shares during the last quarter. Principal Securities Inc. lifted its position in shares of First Majestic Silver by 30.3% in the 4th quarter. Principal Securities Inc. now owns 21,500 shares of the mining company's stock worth $118,000 after buying an additional 5,000 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of First Majestic Silver during the 4th quarter valued at about $161,000. 27.16% of the stock is owned by institutional investors and hedge funds.

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.