First Majestic Silver Corp. (NYSE:AG – Get Free Report) (TSE:FR) was up 6.1% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $5.79 and last traded at $5.70. Approximately 5,855,152 shares traded hands during trading, a decline of 67% from the average daily volume of 17,622,150 shares. The stock had previously closed at $5.37.
The newly announced dividend which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.0057 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.41%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on AG shares. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a research report on Friday. Finally, Scotiabank lowered their price objective on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th.
First Majestic Silver Trading Down 3.7 %
The business has a 50-day moving average price of $5.68 and a 200-day moving average price of $6.01. The firm has a market capitalization of $1.73 billion, a P/E ratio of -15.84 and a beta of 1.24. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative return on equity of 3.06% and a negative net margin of 18.17%. Analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.
Hedge Funds Weigh In On First Majestic Silver
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in shares of First Majestic Silver by 8.3% during the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company’s stock valued at $128,000 after acquiring an additional 1,776 shares during the period. Toronto Dominion Bank lifted its stake in shares of First Majestic Silver by 6.7% during the third 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 period. Blue Trust Inc. lifted its stake in shares of First Majestic Silver by 77.3% during 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. CIBC Asset Management Inc lifted its stake in shares of First Majestic Silver by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company’s stock valued at $2,030,000 after acquiring an additional 2,288 shares during the period. Finally, Rathbones Group PLC lifted its stake in shares of First Majestic Silver by 4.3% during the fourth quarter. Rathbones Group PLC now owns 56,852 shares of the mining company’s stock valued at $312,000 after acquiring an additional 2,325 shares during the period. 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.
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