First Majestic Silver Target of Unusually High Options Trading (NYSE:AG)

First Majestic Silver Corp. (NYSE:AGGet Free Report) (TSE:FR) saw unusually large options trading activity on Friday. Stock traders bought 109,053 call options on the stock. This is an increase of 51% compared to the average daily volume of 72,359 call options.

First Majestic Silver News Summary

Here are the key news stories impacting First Majestic Silver this week:

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in AG. Lodestone Wealth Management LLC purchased a new stake in First Majestic Silver during the 4th quarter valued at $25,000. EFG International AG purchased a new stake in First Majestic Silver during the fourth quarter valued at $25,000. Spire Wealth Management bought a new position in First Majestic Silver in the fourth quarter valued at about $35,000. Bogart Wealth LLC bought a new position in First Majestic Silver in the third quarter valued at about $28,000. Finally, Aventura Private Wealth LLC purchased a new position in First Majestic Silver in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. HC Wainwright raised their price objective on shares of First Majestic Silver to $30.00 and gave the company a “buy” rating in a research report on Friday. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. Scotiabank increased their target price on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Finally, BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, First Majestic Silver presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Get Our Latest Analysis on AG

First Majestic Silver Trading Up 11.1%

Shares of AG traded up $2.76 during trading hours on Friday, hitting $27.54. The company had a trading volume of 36,779,836 shares, compared to its average volume of 28,343,518. First Majestic Silver has a 52-week low of $5.09 and a 52-week high of $27.90. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $20.28 and its 200 day moving average price is $14.62. The firm has a market cap of $13.57 billion, a P/E ratio of 196.69 and a beta of 0.85.

First Majestic Silver (NYSE:AGGet Free Report) (TSE:FR) last issued its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The firm’s revenue for the quarter was up 169.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, research analysts predict that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a $0.0083 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.03 annualized dividend and a dividend yield of 0.1%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is currently 8.57%.

About First Majestic Silver

(Get Free Report)

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.

Further Reading

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