First Majestic Silver (NYSE:AG) Stock Price Up 8.7% - Still a Buy?

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shot up 8.7% on Thursday . The stock traded as high as $5.97 and last traded at $5.97. 7,937,051 shares were traded during mid-day trading, a decline of 6% from the average session volume of 8,488,041 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AG shares. Cormark raised shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, September 6th. HC Wainwright restated a "buy" rating and issued a $8.50 price objective on shares of First Majestic Silver in a report on Friday, October 18th.

First Majestic Silver Trading Up 8.4 %

The firm has a market capitalization of $1.80 billion, a PE ratio of -22.04 and a beta of 1.25. The company has a fifty day moving average of $6.30 and a 200-day moving average of $6.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The company had revenue of $146.09 million during the quarter. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post -0.17 earnings per share 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 paid a $0.0048 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.32%. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's dividend payout ratio is -3.70%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AG. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of First Majestic Silver by 11.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 203,260 shares of the mining company's stock valued at $1,203,000 after purchasing an additional 20,270 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First Majestic Silver by 6.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,320 shares of the mining company's stock valued at $493,000 after acquiring an additional 4,797 shares during the last quarter. International Assets Investment Management LLC raised its position in First Majestic Silver by 39.5% in the 2nd quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company's stock worth $83,000 after purchasing an additional 3,960 shares during the period. Commonwealth Equity Services LLC bought a new stake in First Majestic Silver in the 2nd quarter worth $325,000. Finally, CIBC Asset Management Inc raised its holdings in shares of First Majestic Silver by 7.7% during the second quarter. CIBC Asset Management Inc now owns 356,769 shares of the mining company's stock valued at $2,111,000 after acquiring an additional 25,463 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.