First Majestic Silver (NYSE:AG) Issues Quarterly Earnings Results

First Majestic Silver (NYSE:AG) (TSE:FR) posted its quarterly earnings data on Tuesday. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02), Briefing.com reports. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. During the same quarter in the previous year, the company earned $0.05 EPS. First Majestic Silver’s revenue for the quarter was up 95.3% compared to the same quarter last year.

First Majestic Silver Price Performance

AG traded up $0.04 during trading on Tuesday, reaching $23.62. The company’s stock had a trading volume of 7,359,974 shares, compared to its average volume of 21,802,070. The company has a market cap of $11.64 billion, a price-to-earnings ratio of 67.58 and a beta of 0.85. The firm has a fifty day simple moving average of $22.13 and a two-hundred day simple moving average of $19.36. First Majestic Silver has a 1 year low of $5.49 and a 1 year high of $32.03. The company has a quick ratio of 2.41, a current ratio of 2.60 and a debt-to-equity ratio of 0.09.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a $0.0083 dividend. This represents a $0.03 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, February 27th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s payout ratio is currently 8.57%.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its position in First Majestic Silver by 49.1% during the fourth quarter. Invesco Ltd. now owns 1,552,733 shares of the mining company’s stock worth $25,869,000 after buying an additional 511,230 shares in the last quarter. Wealthspire Retirement LLC grew its holdings 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 valued at $541,000 after buying an additional 450 shares in the last quarter. Vident Advisory LLC acquired a new stake in shares of First Majestic Silver in the 4th quarter worth $996,000. State of Tennessee Department of Treasury acquired a new stake in shares of First Majestic Silver in the 4th quarter worth $182,000. Finally, Mackenzie Financial Corp raised its holdings in shares of First Majestic Silver by 67.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,869,121 shares of the mining company’s stock worth $48,502,000 after acquiring an additional 1,154,430 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AG. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Scotiabank upgraded First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Wall Street Zen cut First Majestic Silver from a “strong-buy” rating to a “buy” rating in a report on Monday, May 4th. Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Finally, HC Wainwright lifted their price target on First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One equities research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

About First Majestic Silver

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.