First Majestic Silver (NYSE:AG) Shares Gap Down to $13.05

First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $13.05, but opened at $12.75. First Majestic Silver shares last traded at $12.70, with a volume of 70,060 shares trading hands.

AG has been the topic of several recent analyst reports. StockNews.com initiated coverage on First Majestic Silver in a research note on Thursday, March 31st. They set a “sell” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of First Majestic Silver in a research note on Tuesday. Zacks Investment Research upgraded First Majestic Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 22nd. BMO Capital Markets lowered their target price on First Majestic Silver from C$13.00 to C$12.00 in a research note on Tuesday. Finally, National Bank Financial lifted their target price on First Majestic Silver from C$17.00 to C$18.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

The firm has a fifty day moving average of $12.94 and a two-hundred day moving average of $12.07. The company has a market cap of $3.04 billion, a PE ratio of -584.71 and a beta of 0.90. The company has a current ratio of 2.30, a quick ratio of 1.95 and a debt-to-equity ratio of 0.15.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last announced its quarterly earnings data on Thursday, March 10th. The mining company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). First Majestic Silver had a positive return on equity of 0.45% and a negative net margin of 0.84%. The firm had revenue of $204.90 million during the quarter, compared to analysts’ expectations of $263.74 million. During the same period last year, the business posted $0.11 EPS. The company’s revenue was up 75.0% compared to the same quarter last year. Sell-side analysts expect that First Majestic Silver Corp. will post 0.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 4th. Investors of record on Monday, March 21st were issued a $0.006 dividend. The ex-dividend date of this dividend was Friday, March 18th. This represents a $0.02 annualized dividend and a yield of 0.21%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -149.93%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC purchased a new position in First Majestic Silver during the 4th quarter valued at about $176,000. Hollencrest Capital Management grew its holdings in First Majestic Silver by 5.9% during the 4th quarter. Hollencrest Capital Management now owns 66,102 shares of the mining company’s stock valued at $735,000 after buying an additional 3,687 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in First Majestic Silver during the 4th quarter valued at about $626,000. Parsons Capital Management Inc. RI purchased a new position in First Majestic Silver during the 4th quarter valued at about $111,000. Finally, Euro Pacific Asset Management LLC grew its holdings in First Majestic Silver by 10.8% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 37,865 shares of the mining company’s stock valued at $469,000 after buying an additional 3,703 shares in the last quarter. 26.97% of the stock is owned by institutional investors.

First Majestic Silver Company Profile (NYSE:AG)

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.

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