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First Majestic Silver (NYSE:AG) Shares Gap Up - Should You Buy?

First Majestic Silver logo with Basic Materials background

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped up before the market opened on Monday . The stock had previously closed at $6.34, but opened at $6.65. First Majestic Silver shares last traded at $6.68, with a volume of 2,306,565 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AG. Cormark raised First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, September 6th. HC Wainwright reaffirmed a "buy" rating and issued a $8.50 price objective on shares of First Majestic Silver in a research report on Friday, October 18th.

Get Our Latest Research Report on First Majestic Silver

First Majestic Silver Trading Up 4.3 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -25.04 and a beta of 1.31. The business's 50-day simple moving average is $6.54 and its two-hundred day simple moving average is $6.34.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data 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 firm had revenue of $146.09 million for 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 Corp. will post -0.17 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.0048 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's dividend payout ratio is -7.41%.

Hedge Funds Weigh In On First Majestic Silver

A number of hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in shares of First Majestic Silver by 2.7% during the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company's stock valued at $173,478,000 after purchasing an additional 764,790 shares during the last quarter. Vanguard Group Inc. increased its position in First Majestic Silver by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company's stock worth $61,456,000 after buying an additional 186,570 shares during the period. Tidal Investments LLC lifted its stake in First Majestic Silver by 6,929.4% in the first quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company's stock valued at $30,406,000 after buying an additional 5,101,271 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Majestic Silver by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company's stock valued at $18,701,000 after acquiring an additional 103,232 shares during the period. Finally, TD Asset Management Inc grew its position in shares of First Majestic Silver by 0.8% during the second quarter. TD Asset Management Inc now owns 774,530 shares of the mining company's stock worth $4,585,000 after acquiring an additional 5,868 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

About First Majestic Silver

(Get Free Report)

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.

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