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

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped up prior to trading 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 analysts recently weighed in on the stock. Scotiabank reissued a "sector perform" rating and set a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. StockNews.com raised First Majestic Silver from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. HC Wainwright reaffirmed a "buy" rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. TD Securities upgraded First Majestic Silver to a "hold" rating in a report on Monday, March 10th. Finally, National Bankshares restated a "sector perform" rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.50.

First Majestic Silver Stock Down 0.8 %

The company has a market cap of $3.00 billion, a P/E ratio of -17.69 and a beta of 0.97. The stock's 50-day moving average price is $6.20 and its 200-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 issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The business had revenue of $172.34 million for the quarter, compared to analyst estimates of $227.77 million. As a group, research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.0057 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.37%. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. First Majestic Silver's dividend payout ratio (DPR) is presently -5.71%.

Institutional Trading of First Majestic Silver

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new position in shares of First Majestic Silver during the 3rd quarter worth $2,419,000. Realta Investment Advisors raised its position in shares of First Majestic Silver by 16.8% in the fourth quarter. Realta Investment Advisors now owns 497,726 shares of the mining company's stock valued at $2,882,000 after purchasing an additional 71,456 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of First Majestic Silver by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company's stock valued at $3,109,000 after buying an additional 18,219 shares in the last quarter. Principal Securities Inc. boosted its holdings in 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 period. Finally, Aigen Investment Management LP bought a new position in First Majestic Silver in the 4th quarter worth approximately $161,000. Hedge funds and other 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.