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

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price gapped up before the market opened on Monday . The stock had previously closed at $6.52, but opened at $6.76. First Majestic Silver shares last traded at $6.67, with a volume of 1,655,648 shares trading hands.

Wall Street Analysts Forecast Growth

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

First Majestic Silver Stock Down 0.8 %

The firm has a market cap of $3.00 billion, a P/E ratio of -17.69 and a beta of 0.97. The business's fifty day moving average price is $6.20 and its two-hundred day moving average price is $6.18. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

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

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.0057 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.37%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date was Friday, February 28th. First Majestic Silver's payout ratio is presently -5.71%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after purchasing an additional 3,506 shares during the period. Allworth Financial LP increased its position in 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 during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in First Majestic Silver in the 4th quarter worth approximately $55,000. Bank of Nova Scotia acquired a new position in shares of First Majestic Silver during the fourth quarter worth approximately $57,000. Finally, Captrust Financial Advisors bought a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $58,000. Institutional investors 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.