First Majestic Silver (NYSE:AG) Shares Gap Down - What's Next?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's share price gapped down prior to trading on Friday . The stock had previously closed at $5.68, but opened at $5.56. First Majestic Silver shares last traded at $5.58, with a volume of 1,257,374 shares changing hands.

Wall Street Analyst Weigh In

AG has been the subject of several recent research reports. HC Wainwright restated a "buy" rating and set a $8.50 target price on shares of First Majestic Silver in a report on Friday, October 18th. Cormark upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, September 6th.

First Majestic Silver Price Performance

The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -20.52 and a beta of 1.25. 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 company has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $6.13.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.12). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The firm had revenue of $146.09 million during the quarter. As a group, equities research analysts expect that First Majestic Silver Corp. will post -0.17 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.0048 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's payout ratio is currently -3.70%.

Institutional Trading of First Majestic Silver

A number of hedge funds have recently added to or reduced their stakes in AG. Blue Trust Inc. boosted its stake in shares of First Majestic Silver by 77.3% during the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company's stock valued at $31,000 after purchasing an additional 2,253 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in First Majestic Silver during the 2nd quarter worth approximately $70,000. Y Intercept Hong Kong Ltd bought a new stake in First Majestic Silver during the 3rd quarter worth approximately $70,000. Corundum Trust Company INC acquired a new position in First Majestic Silver in the 3rd quarter valued at approximately $72,000. Finally, Creative Planning bought a new position in shares of First Majestic Silver during the third quarter valued at $72,000. 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.