First Majestic Silver Corp. (NYSE:AG) Stock Rated “Moderate Buy” by Wall Street Brokerages

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $24.00.

A number of brokerages have recently issued reports on AG. Scotiabank reduced their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Finally, HC Wainwright dropped their price objective on First Majestic Silver from $27.00 to $25.50 and set a “buy” rating on the stock in a research note on Friday, October 9th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Walser Wealth Management Company A Ltd Liability Co purchased a new stake in shares of First Majestic Silver in the 3rd quarter valued at about $710,000. First Merchants Corp bought a new position in First Majestic Silver during the 3rd quarter worth approximately $478,000. Fortitude Family Office LLC bought a new stake in First Majestic Silver in the third quarter valued at approximately $39,000. Euro Pacific Asset Management LLC increased its position in shares of First Majestic Silver by 20.9% in the third quarter. Euro Pacific Asset Management LLC now owns 70,499 shares of the mining company’s stock valued at $1,247,000 after acquiring an additional 12,166 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of First Majestic Silver by 173.6% during the second quarter. Envestnet Asset Management Inc. now owns 67,600 shares of the mining company’s stock valued at $1,146,000 after acquiring an additional 42,893 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $16.08 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. First Majestic Silver has a 52-week low of $10.19 and a 52-week high of $32.03. The stock’s 50 day moving average price is $19.17 and its two-hundred day moving average price is $18.97. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 22.65 and a beta of 0.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company had revenue of $415.50 million for the quarter, compared to analyst estimates of $496.00 million. During the same quarter in the prior year, the company posted $0.11 EPS. First Majestic Silver’s revenue for the quarter was up 57.3% on a year-over-year basis. On average, equities analysts predict that First Majestic Silver will post 0.80 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a $0.0152 dividend. This is a drop from First Majestic Silver’s previous quarterly dividend of $0.0171. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.06 annualized dividend and a yield of 0.4%. First Majestic Silver’s 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 and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.