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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of some unusual options trading on Friday. Traders bought 25,196 call options on the stock. This represents an increase of 58% compared to the average daily volume of 15,949 call options.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock traded down $0.22 during mid-day trading on Friday, hitting $6.76. 21,100,053 shares of the stock were exchanged, compared to its average volume of 11,322,496. The company has a 50-day simple moving average of $5.95 and a 200 day simple moving average of $6.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56. First Majestic Silver has a 12 month low of $4.43 and a 12 month high of $8.44. The company has a market capitalization of $3.27 billion, a P/E ratio of -19.30 and a beta of 1.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The business had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. Sell-side analysts anticipate that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.0057 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, February 28th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is presently -5.71%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AG. TD Securities upgraded First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a research report on Friday, February 21st. StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Scotiabank lowered 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 note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $8.50.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of the company. Barclays PLC purchased a new position in shares of First Majestic Silver during the 3rd quarter valued at $2,419,000. Realta Investment Advisors lifted its position in First Majestic Silver by 16.8% in the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock worth $2,882,000 after buying an additional 71,456 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of First Majestic Silver by 18.0% in the 3rd quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock valued at $4,102,000 after purchasing an additional 104,092 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in First Majestic Silver in the 3rd quarter worth $748,000. Finally, XTX Topco Ltd lifted its stake in First Majestic Silver by 1,510.1% in the third quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock worth $1,630,000 after purchasing an additional 254,870 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors.

About First Majestic Silver

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.