First Majestic Silver (NYSE:AG) Trading Down 5.2% - Here's What Happened

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR were down 5.2% during trading on Wednesday . The stock traded as low as $7.53 and last traded at $7.53. Approximately 1,452,156 shares traded hands during trading, a decline of 82% from the average daily volume of 8,182,804 shares. The stock had previously closed at $7.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. HC Wainwright reissued a "buy" rating and issued a $8.50 price objective on shares of First Majestic Silver in a research note on Friday, October 18th. Cormark upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research report on Friday, September 6th.

First Majestic Silver Price Performance

The company has a market capitalization of $2.23 billion, a PE ratio of -47.44 and a beta of 1.36. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. The firm's 50 day simple moving average is $6.21 and its 200 day simple moving average is $6.35.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $136.20 million for the quarter, compared to the consensus estimate 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 previous year, the company posted ($0.02) earnings per share. As a group, research analysts anticipate that First Majestic Silver Corp. will post -0.13 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.0046 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Friday, August 16th. First Majestic Silver's dividend payout ratio is currently -6.25%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AG. Blue Trust Inc. raised its position in First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company's stock valued at $31,000 after purchasing an additional 2,253 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of First Majestic Silver in the first quarter valued at about $62,000. Dark Forest Capital Management LP purchased a new stake in First Majestic Silver in the second quarter worth about $70,000. Creative Planning bought a new position in First Majestic Silver during the 3rd quarter worth about $72,000. Finally, Corundum Trust Company INC purchased a new position in First Majestic Silver during the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors 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.