First Majestic Silver Sees Unusually Large Options Volume (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR was the target of unusually large options trading activity on Wednesday. Stock investors acquired 27,373 call options on the stock. This represents an increase of approximately 100% compared to the average daily volume of 13,664 call options.

Analyst Upgrades and Downgrades

AG has been the subject of several analyst reports. HC Wainwright reiterated a "buy" rating and issued a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, February 21st. 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 research report on Wednesday, January 15th. Finally, StockNews.com upgraded shares of First Majestic Silver from a "sell" rating to a "hold" rating in a research report on Friday, February 21st.

First Majestic Silver Price Performance

Shares of NYSE:AG traded up $0.07 during midday trading on Friday, hitting $5.91. The stock had a trading volume of 14,325,590 shares, compared to its average volume of 10,430,279. The company's 50-day moving average price is $5.66 and its 200-day moving average price is $6.04. The company has a market capitalization of $1.84 billion, a P/E ratio of -16.87 and a beta of 1.16. 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 has a fifty-two week low of $4.43 and a fifty-two week high of $8.44.

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First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate 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%. As a group, equities research analysts predict that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.0057 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.39%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date is Friday, February 28th. First Majestic Silver's dividend payout ratio is currently -5.71%.

Hedge Funds Weigh In On First Majestic Silver

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in First Majestic Silver by 8.3% during the 4th quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock worth $128,000 after purchasing an additional 1,776 shares in the last quarter. Toronto Dominion Bank increased its position in First Majestic Silver by 6.7% during 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 in the last quarter. CIBC Asset Management Inc increased its position in First Majestic Silver by 0.6% during 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 in the last quarter. Rathbones Group PLC increased its position in First Majestic Silver by 4.3% during 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 in the last quarter. Finally, Moors & Cabot Inc. increased its position in First Majestic Silver by 19.6% during 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 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.