First Majestic Silver (NYSE:AG) Trading Down 13.1% – Time to Sell?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares fell 13.1% on Friday . The stock traded as low as $17.31 and last traded at $17.1750. 10,000,452 shares were traded during mid-day trading, a decline of 51% from the average session volume of 20,332,713 shares. The stock had previously closed at $19.77.

Analysts Set New Price Targets

Several brokerages recently weighed in on AG. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. HC Wainwright lifted their price objective on First Majestic Silver to $30.75 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Scotiabank raised First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, BMO Capital Markets raised First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.25.

First Majestic Silver Stock Down 14.6%

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The company has a market cap of $8.34 billion, a PE ratio of 28.24 and a beta of 0.86. The company has a fifty day moving average price of $20.78 and a 200 day moving average price of $20.43.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The business had revenue of $476.67 million for the quarter, compared to analysts’ expectations of $522.00 million. During the same period in the previous year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up 95.3% compared to the same quarter last year. As a group, analysts anticipate that First Majestic Silver Corp. will post 0.74 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were issued a dividend of $0.0171 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a dividend yield of 0.4%. First Majestic Silver’s payout ratio is presently 11.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Lodestone Wealth Management LLC purchased a new position in shares of First Majestic Silver during the fourth quarter worth about $25,000. EFG International AG purchased a new stake in First Majestic Silver in the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC purchased a new stake in First Majestic Silver in the first quarter worth approximately $32,000. PNC Financial Services Group Inc. boosted its stake in First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after buying an additional 978 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in First Majestic Silver in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

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.