First Majestic Silver Corp. (NYSE:AG) Receives Average Recommendation of “Moderate Buy” from Brokerages

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $23.8333.

Several research firms recently weighed in on AG. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. HC Wainwright upped their target price on First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. Scotiabank decreased their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th.

First Majestic Silver Trading Down 1.3%

Shares of First Majestic Silver stock opened at $20.97 on Thursday. The company has a market capitalization of $10.34 billion, a P/E ratio of 29.54 and a beta of 0.94. The stock has a fifty day simple moving average of $17.55 and a 200 day simple moving average of $20.35. First Majestic Silver has a 12-month low of $8.72 and a 12-month high of $32.03. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The firm had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $496.00 million. During the same period in the prior year, the firm earned $0.11 earnings per share. First Majestic Silver’s revenue was up 57.3% compared to the same quarter last year. On average, sell-side analysts anticipate that First Majestic Silver will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 14th. First Majestic Silver’s dividend payout ratio is 8.45%.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently made changes to their positions in AG. EFG International AG purchased a new position in shares of First Majestic Silver in the 4th quarter worth about $25,000. Harbor Investment Advisory LLC purchased a new stake in First Majestic Silver during the first quarter worth about $32,000. PNC Financial Services Group Inc. increased its holdings in First Majestic Silver by 184.5% during 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 during the last quarter. Parallel Advisors LLC increased its holdings in First Majestic Silver by 36.4% during the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after buying an additional 560 shares during the last quarter. Finally, Sittner & Nelson LLC bought a new stake in First Majestic Silver in the fourth quarter worth about $50,000. 27.16% of the stock is 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.