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

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shares gapped up before the market opened on Friday . The stock had previously closed at $6.02, but opened at $6.31. First Majestic Silver shares last traded at $6.33, with a volume of 2,504,516 shares.

Analyst Upgrades and Downgrades

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

Remove Ads

First Majestic Silver Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56. The company has a 50 day moving average price of $6.06 and a 200 day moving average price of $6.17. The company has a market capitalization of $3.20 billion, a PE ratio of -18.87 and a beta of 0.97.

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

First Majestic Silver Increases Dividend

The company also recently announced 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. 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, February 28th. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's dividend payout ratio (DPR) is currently -5.71%.

Institutional Investors Weigh In On First Majestic Silver

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