First Majestic Silver (NYSE:AG) Stock Price Up 6.8% - Here's Why

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shot up 6.8% during trading on Friday . The stock traded as high as $6.82 and last traded at $6.76. 2,548,110 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 8,003,255 shares. The stock had previously closed at $6.33.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AG shares. HC Wainwright reissued a "buy" rating and set a $8.50 target price on shares of First Majestic Silver in a research report on Friday. Cormark upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, September 6th.

First Majestic Silver Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. The firm's 50 day moving average is $5.85 and its 200-day moving average is $6.36. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -42.31 and a beta of 1.36.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $136.20 million during the quarter, compared to analyst estimates of $129.74 million. First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. The business's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Analysts forecast that First Majestic Silver Corp. will post -0.13 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.0046 per share. The ex-dividend date was Friday, August 16th. This represents a $0.02 annualized dividend and a dividend yield of 0.25%. First Majestic Silver's payout ratio is -6.25%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AG. Cetera Advisors LLC increased its stake in First Majestic Silver by 3.1% in the first quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company's stock valued at $315,000 after purchasing an additional 1,601 shares during the last quarter. Blue Trust Inc. lifted its holdings in First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company's stock valued at $31,000 after acquiring an additional 2,253 shares during the period. International Assets Investment Management LLC increased its position in shares of First Majestic Silver by 39.5% in the second quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company's stock valued at $83,000 after buying an additional 3,960 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of First Majestic Silver by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company's stock valued at $1,411,000 after buying an additional 3,980 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 buying an additional 4,797 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

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.