First Majestic Silver (NYSE:AG) Shares Up 7% - Should You Buy?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's share price was up 7% on Wednesday . The stock traded as high as $5.76 and last traded at $5.76. Approximately 4,932,010 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 10,285,332 shares. The stock had previously closed at $5.38.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AG shares. Scotiabank dropped their target price on shares of First Majestic Silver from $6.50 to $6.00 and set a "sector perform" rating for the company in a report on Wednesday, January 15th. StockNews.com raised shares of First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of First Majestic Silver in a report on Friday, February 21st.

First Majestic Silver Price Performance

The firm's fifty day simple moving average is $5.66 and its 200 day simple moving average is $6.04. The firm has a market cap of $1.84 billion, a P/E ratio of -16.87 and a beta of 1.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56.

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First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate 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 company had revenue of $172.34 million for the quarter, compared to the consensus estimate of $227.77 million. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.0057 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's dividend payout ratio is -5.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in shares of First Majestic Silver by 8.3% in the 4th quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock valued at $128,000 after acquiring an additional 1,776 shares during the last quarter. Toronto Dominion Bank raised its position in First Majestic Silver by 6.7% in the 3rd quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company's stock worth $176,000 after purchasing an additional 1,855 shares during the period. CIBC Asset Management Inc raised its position in First Majestic Silver by 0.6% in the 4th 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 raised its position in First Majestic Silver by 4.3% in the 4th 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 during the period. Finally, Moors & Cabot Inc. raised its position in First Majestic Silver by 19.6% in the 4th quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock worth $94,000 after purchasing an additional 2,800 shares during the period. Institutional investors 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.