First Majestic Silver Corp. Plans Quarterly Dividend of $0.02 (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.0152 per share by the mining company on Monday, August 31st. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, August 14th.

First Majestic Silver has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Majestic Silver to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

First Majestic Silver Trading Up 2.7%

Shares of First Majestic Silver stock opened at $15.63 on Friday. First Majestic Silver has a fifty-two week low of $7.74 and a fifty-two week high of $32.03. The firm has a market cap of $7.71 billion, a PE ratio of 26.06 and a beta of 0.91. The business’s fifty day moving average is $17.54 and its two-hundred day moving average is $20.81. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. First Majestic Silver’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. Analysts anticipate that First Majestic Silver will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of the company. Lodestone Wealth Management LLC purchased a new stake in First Majestic Silver during the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC purchased a new position in shares of First Majestic Silver in the 1st quarter valued at $32,000. EFG International AG acquired a new position in shares of First Majestic Silver during the 4th quarter valued at $25,000. PNC Financial Services Group Inc. lifted its holdings in shares of First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock valued at $32,000 after acquiring an additional 978 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of First Majestic Silver during the 4th quarter valued at $35,000. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

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.