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 Thursday . The stock had previously closed at $5.54, but opened at $5.77. First Majestic Silver shares last traded at $5.89, with a volume of 1,611,126 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of First Majestic Silver in a research report on Friday, January 10th. Scotiabank dropped their price target on First Majestic Silver from $6.50 to $6.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 15th.

First Majestic Silver Price Performance

The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.78 billion, a P/E ratio of -21.17 and a beta of 1.24. The firm has a 50 day moving average price of $5.83 and a 200 day moving average price of $6.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Thursday, November 7th. The mining company reported ($0.03) 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 return on equity of 4.19% and a negative net margin of 14.89%. On average, analysts forecast that First Majestic Silver Corp. will post -0.16 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.0048 per share. This is a boost from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.34%. First Majestic Silver's payout ratio is -7.41%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its holdings in shares of First Majestic Silver by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company's stock valued at $2,030,000 after purchasing an additional 2,288 shares in the last quarter. Allworth Financial LP grew its stake in shares of First Majestic Silver by 805.4% in the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company's stock worth $29,000 after buying an additional 4,591 shares in the last quarter. Principal Securities Inc. increased its holdings 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. Realta Investment Advisors raised its position in shares of First Majestic Silver by 16.8% during the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company's stock valued at $2,882,000 after buying an additional 71,456 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of First Majestic Silver in the 4th quarter valued at about $82,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

About First Majestic Silver

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.