First Majestic Silver (NYSE:AG) Shares Down 10.3% – Time to Sell?

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) dropped 10.3% during trading on Tuesday . The stock traded as low as $20.66 and last traded at $20.6020. Approximately 4,904,422 shares changed hands during trading, a decline of 82% from the average daily volume of 27,962,150 shares. The stock had previously closed at $22.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Scotiabank boosted their price target 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. HC Wainwright upped their price target on shares of First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a research report on Friday, January 16th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.17.

First Majestic Silver Trading Up 9.7%

The firm has a market cap of $12.22 billion, a PE ratio of 177.07 and a beta of 0.85. The firm has a fifty day simple moving average of $20.28 and a two-hundred day simple moving average of $14.62. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The company had revenue of $463.92 million during the quarter, compared to the consensus estimate of $561.30 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 169.2% on a year-over-year basis. Equities 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 will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.0083 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date is Friday, February 27th. This represents a $0.03 annualized dividend and a yield of 0.1%. First Majestic Silver’s dividend payout ratio (DPR) is currently 14.29%.

Hedge Funds Weigh In On First Majestic Silver

A number of institutional investors have recently bought and sold shares of AG. Wealthspire Retirement LLC grew its position in First Majestic Silver by 1.4% in the 4th quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after purchasing an additional 450 shares during the period. Harbour Investments Inc. boosted its stake in shares of First Majestic Silver by 2.9% in the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock worth $411,000 after buying an additional 697 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of First Majestic Silver by 3.0% in the fourth quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock worth $416,000 after acquiring an additional 718 shares during the period. Moors & Cabot Inc. increased its position in First Majestic Silver by 2.8% during the third quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock valued at $434,000 after acquiring an additional 945 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in First Majestic Silver by 33.2% in the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock valued at $48,000 after acquiring an additional 971 shares during the period. 27.16% of the stock is 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.