First Majestic Silver (NYSE:AG) Reaches New 52-Week High – Should You Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $18.08 and last traded at $17.69, with a volume of 9491082 shares. The stock had previously closed at $16.06.

Analysts Set New Price Targets

Several research firms have recently issued reports on AG. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. National Bankshares set a $22.00 target price on shares of First Majestic Silver and gave the company an “outperform” rating in a report on Monday, October 6th. HC Wainwright set a $17.50 price objective on First Majestic Silver in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. Finally, Scotiabank lifted their target price on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Price Performance

The business’s fifty day simple moving average is $14.24 and its 200 day simple moving average is $11.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 125.14 and a beta of 0.77.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $429.78 million. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The company’s revenue was up 95.3% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. On average, research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.0052 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 14th. This represents a $0.02 annualized dividend and a yield of 0.1%. First Majestic Silver’s dividend payout ratio (DPR) is 14.29%.

Institutional Trading of First Majestic Silver

A number of hedge funds have recently bought and sold shares of AG. Bogart Wealth LLC bought a new position in First Majestic Silver in the 3rd quarter valued at $28,000. Sound Income Strategies LLC boosted its holdings in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock worth $37,000 after buying an additional 2,990 shares during the last quarter. CWM LLC grew its position in First Majestic Silver by 57.2% during the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after buying an additional 1,860 shares during the period. AdvisorNet Financial Inc increased its holdings in First Majestic Silver by 33.2% during the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after buying an additional 971 shares during the last quarter. Finally, Quarry LP purchased a new stake in First Majestic Silver during the third quarter worth about $57,000. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.