First Majestic Silver (NYSE:AG) Stock Price Down 3.5%

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) dropped 3.5% during mid-day trading on Monday . The stock traded as low as $6.07 and last traded at $6.08. Approximately 776,742 shares changed hands during trading, a decline of 90% from the average daily volume of 7,919,439 shares. The stock had previously closed at $6.30.

Analyst Ratings Changes

Several equities analysts have issued reports on AG shares. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a research note on Friday, September 6th.

First Majestic Silver Stock Up 3.3 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. The firm has a market capitalization of $1.80 billion, a PE ratio of -38.75 and a beta of 1.35. The firm’s 50-day moving average is $5.63 and its 200 day moving average is $6.29.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. The company had revenue of $136.20 million for the quarter, compared to analyst estimates of $129.74 million. During the same quarter last year, the company posted ($0.02) EPS. First Majestic Silver’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, research analysts forecast that First Majestic Silver Corp. will post -0.13 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.0046 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.30%. First Majestic Silver’s dividend payout ratio (DPR) is presently -6.25%.

Institutional Trading of First Majestic Silver

Hedge funds and other institutional investors have recently bought and sold shares of the company. TD Asset Management Inc lifted its holdings in shares of First Majestic Silver by 2.0% during the 4th quarter. TD Asset Management Inc now owns 757,732 shares of the mining company’s stock worth $4,672,000 after acquiring an additional 14,848 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of First Majestic Silver in the 4th quarter worth $69,000. Campbell & CO Investment Adviser LLC purchased a new stake in First Majestic Silver during the fourth quarter valued at about $1,266,000. CIBC Asset Management Inc raised its holdings in shares of First Majestic Silver by 2.9% in the 4th quarter. CIBC Asset Management Inc now owns 281,178 shares of the mining company’s stock worth $1,731,000 after purchasing an additional 7,900 shares during the period. Finally, Sprott Inc. lifted its stake in shares of First Majestic Silver by 0.5% in the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock valued at $4,838,000 after purchasing an additional 4,257 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other 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.