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

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shot up 7% during mid-day trading on Tuesday . The stock traded as high as $5.94 and last traded at $5.94. 4,017,911 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 12,308,419 shares. The stock had previously closed at $5.55.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday.

First Majestic Silver Stock Performance

The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -21.63 and a beta of 1.25. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $6.06 and a 200 day moving average of $6.10.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12). The company had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. As a group, equities research analysts expect that First Majestic Silver Corp. will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.0048 dividend. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. First Majestic Silver's dividend payout ratio (DPR) is -3.70%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently made changes to their positions in AG. Synovus Financial Corp acquired a new stake in First Majestic Silver in the third quarter worth approximately $452,000. Tidal Investments LLC grew its holdings in First Majestic Silver by 1.8% during the third quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company's stock worth $34,684,000 after acquiring an additional 99,640 shares during the period. Virtu Financial LLC raised its position in First Majestic Silver by 95.9% in the third quarter. Virtu Financial LLC now owns 136,356 shares of the mining company's stock worth $818,000 after acquiring an additional 66,750 shares in the last quarter. Toronto Dominion Bank lifted its holdings 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 valued at $176,000 after acquiring an additional 1,855 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of First Majestic Silver by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company's stock valued at $825,000 after purchasing an additional 12,171 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.