First Majestic Silver Corp. (NYSE:AG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $23.8333.

A number of analysts have issued reports on the stock. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings restated a “hold (c)” rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. HC Wainwright upped their price objective on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Scotiabank lowered their target price on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its position in First Majestic Silver by 408.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after purchasing an additional 12,081,688 shares during the period. Alps Advisors Inc. raised its position in shares of First Majestic Silver by 33.6% in the fourth quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock valued at $160,298,000 after purchasing an additional 2,418,513 shares during the period. Bank of America Corp DE raised its position in shares of First Majestic Silver by 92.3% in the first quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after purchasing an additional 2,919,008 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of First Majestic Silver in the second quarter worth $59,610,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of First Majestic Silver in the first quarter worth $62,760,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Up 0.0%

Shares of First Majestic Silver stock opened at $19.85 on Monday. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 27.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. First Majestic Silver has a 52-week low of $10.01 and a 52-week high of $32.03. The stock has a 50-day simple moving average of $18.63 and a 200-day simple moving average of $19.68.

First Majestic Silver (NYSE:AG) (TSE:FR) last released 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 firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The company’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 EPS. On average, equities research analysts expect that First Majestic Silver will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.0152 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, August 14th. First Majestic Silver’s dividend payout ratio is 8.45%.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.