First Majestic Silver (NYSE:AG) Shares Gap Up - Still a Buy?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.09, but opened at $7.32. First Majestic Silver shares last traded at $7.36, with a volume of 2,748,634 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AG. StockNews.com raised First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. TD Securities upgraded First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. HC Wainwright reiterated a "buy" rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. Finally, Scotiabank lowered their price objective on shares of First Majestic Silver from $6.50 to $6.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.50.

First Majestic Silver Price Performance

The company has a market capitalization of $3.36 billion, a PE ratio of -19.84 and a beta of 1.16. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $5.85 and a two-hundred day moving average of $6.11.

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First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $172.34 million during 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%. Research analysts anticipate 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. Investors of record on Friday, February 28th were given a $0.0057 dividend. The ex-dividend date was Friday, February 28th. This is a boost from First Majestic Silver's previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.33%. First Majestic Silver's dividend payout ratio is -5.71%.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its position in First Majestic Silver by 135.2% in the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock worth $74,647,000 after buying an additional 7,816,177 shares in the last quarter. Vanguard Group Inc. lifted its position in First Majestic Silver by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company's stock valued at $62,784,000 after purchasing an additional 598,996 shares during the last quarter. Two Sigma Investments LP raised its holdings in First Majestic Silver by 46.8% during the 4th quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company's stock valued at $24,463,000 after buying an additional 1,420,937 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of First Majestic Silver by 897.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company's stock worth $20,638,000 after acquiring an additional 3,382,443 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of First Majestic Silver by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company's stock valued at $19,060,000 after buying an additional 121,892 shares during the period. 27.16% of the stock is currently 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.