First Majestic Silver (NYSE:AG) Trading Up 4.9% - Here's What Happened

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shares rose 4.9% on Wednesday . The stock traded as high as $5.69 and last traded at $5.50. Approximately 6,068,961 shares changed hands during trading, a decline of 47% from the average daily volume of 11,443,509 shares. The stock had previously closed at $5.24.

Analyst Upgrades and Downgrades

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

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First Majestic Silver Stock Performance

The firm has a market cap of $3.22 billion, a PE ratio of -19.00 and a beta of 0.97. The company has a 50-day simple moving average of $6.04 and a two-hundred day simple moving average of $6.17. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings results 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 the consensus estimate of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. As a group, equities research analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.0057 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.34%. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's dividend payout ratio (DPR) is presently -5.71%.

Hedge Funds Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of First Majestic Silver by 8.3% during the 4th quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock valued at $128,000 after buying an additional 1,776 shares during the last quarter. Toronto Dominion Bank lifted its holdings in First Majestic Silver by 6.7% during the third quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company's stock valued at $176,000 after purchasing an additional 1,855 shares during the last quarter. CIBC Asset Management Inc boosted its position in First Majestic Silver by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company's stock worth $2,030,000 after purchasing an additional 2,288 shares during the period. Rathbones Group PLC increased its stake in shares of First Majestic Silver by 4.3% in the fourth quarter. Rathbones Group PLC now owns 56,852 shares of the mining company's stock worth $312,000 after purchasing an additional 2,325 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of First Majestic Silver by 19.6% in the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock valued at $94,000 after purchasing an additional 2,800 shares during the period. 27.16% of the stock is owned by 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.