First Majestic Silver (NYSE:AG) Receives Buy Rating from HC Wainwright

by · The Markets Daily

HC Wainwright restated their buy rating on shares of First Majestic Silver (NYSE:AG – Free Report) (TSE:FR) in a research report report published on Friday, MarketBeat Ratings reports. The brokerage currently has a $8.50 target price on the mining company’s stock.

Separately, Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, September 6th.

View Our Latest Research Report on AG

First Majestic Silver Stock Performance

Shares of AG stock opened at $7.30 on Friday. First Majestic Silver has a 52 week low of $4.17 and a 52 week high of $8.44. The firm has a 50 day moving average of $5.90 and a two-hundred day moving average of $6.37. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.12 billion, a PE ratio of -45.63 and a beta of 1.36.

First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last released its earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The company had revenue of $136.20 million for the quarter, compared to analyst estimates of $129.74 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, research analysts predict that First Majestic Silver will post -0.13 EPS for the current fiscal year.

First Majestic Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.0046 per share. This represents a $0.02 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Friday, August 16th. First Majestic Silver’s payout ratio is -6.25%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently added to or reduced their stakes in AG. Blue Trust Inc. increased its position in shares of First Majestic Silver by 77.3% during the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in First Majestic Silver during the first quarter worth approximately $48,000. B. Riley Wealth Advisors Inc. acquired a new position in First Majestic Silver during the first quarter worth approximately $62,000. Dark Forest Capital Management LP purchased a new stake in First Majestic Silver in the second quarter valued at approximately $70,000. Finally, Creative Planning acquired a new stake in shares of First Majestic Silver in the third quarter valued at approximately $72,000. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Company Profile

(Get Free Report)

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. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.

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