First Majestic Silver (NYSE:AG) Shares Up 5.4% - Here's What Happened

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shares were up 5.4% on Tuesday . The company traded as high as $5.99 and last traded at $5.85. Approximately 1,470,398 shares traded hands during trading, a decline of 86% from the average daily volume of 10,436,908 shares. The stock had previously closed at $5.55.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AG. TD Securities raised shares of First Majestic Silver to a "hold" rating in a report on Monday, March 10th. Scotiabank lowered their target price on shares of 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. HC Wainwright restated a "buy" rating and set a $11.00 price target on shares of First Majestic Silver in a research note on Friday, February 21st. Finally, StockNews.com upgraded First Majestic Silver from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, First Majestic Silver has a consensus rating of "Hold" and an average target price of $8.50.

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First Majestic Silver Price Performance

The company's 50 day moving average price is $5.72 and its 200 day moving average price is $6.05. 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 market cap of $3.24 billion, a price-to-earnings ratio of -19.10 and a beta of 1.16.

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 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. On average, equities research analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AG. PKO Investment Management Joint Stock Co bought a new position in shares of First Majestic Silver in the fourth quarter worth about $723,000. Integrated Advisors Network LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $399,000. Mackenzie Financial Corp raised its position in First Majestic Silver by 8.1% in the 4th quarter. Mackenzie Financial Corp now owns 155,262 shares of the mining company's stock worth $852,000 after purchasing an additional 11,649 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in First Majestic Silver by 6.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 88,896 shares of the mining company's stock worth $488,000 after buying an additional 5,099 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in First Majestic Silver by 90.6% during the 4th quarter. Two Sigma Advisers LP now owns 118,715 shares of the mining company's stock worth $652,000 after buying an additional 56,415 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

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.