First Majestic Silver (NYSE:AG) Shares Gap Up to $6.10

First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $6.10, but opened at $6.50. First Majestic Silver shares last traded at $6.69, with a volume of 3,208,654 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. TD Securities dropped their target price on shares of First Majestic Silver from C$12.00 to C$11.00 in a report on Monday, February 27th. BMO Capital Markets decreased their price target on shares of First Majestic Silver from C$10.50 to C$9.00 in a research note on Friday, January 20th. National Bank Financial decreased their price target on shares of First Majestic Silver from C$14.50 to C$11.00 in a research note on Tuesday, February 14th. Finally, HC Wainwright decreased their price target on shares of First Majestic Silver from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Friday, January 20th.

First Majestic Silver Price Performance

The company’s 50 day simple moving average is $7.51 and its 200-day simple moving average is $8.08. The company has a current ratio of 2.21, a quick ratio of 1.83 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -16.26 and a beta of 1.00.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last released its earnings results on Thursday, February 23rd. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). First Majestic Silver had a negative return on equity of 3.73% and a negative net margin of 18.31%. The company had revenue of $148.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same period in the prior year, the business posted $0.02 earnings per share. On average, equities research analysts predict that First Majestic Silver Corp. will post 0.11 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a $0.005 dividend. The ex-dividend date is Thursday, March 9th. This represents a $0.02 annualized dividend and a dividend yield of 0.29%. First Majestic Silver’s dividend payout ratio is presently -4.65%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AG. BerganKDV Wealth Management LLC raised its stake in shares of First Majestic Silver by 94.4% during the third quarter. BerganKDV Wealth Management LLC now owns 4,000 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,942 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Majestic Silver by 19,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,000 shares of the mining company’s stock valued at $33,000 after purchasing an additional 3,980 shares during the period. Money Concepts Capital Corp purchased a new stake in shares of First Majestic Silver during the fourth quarter valued at approximately $33,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of First Majestic Silver during the fourth quarter valued at approximately $42,000. Finally, Captrust Financial Advisors raised its stake in shares of First Majestic Silver by 589.5% during the second quarter. Captrust Financial Advisors now owns 8,515 shares of the mining company’s stock valued at $61,000 after purchasing an additional 7,280 shares during the period. Hedge funds and other institutional investors own 30.40% of the company’s stock.

About First Majestic Silver

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First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including the La Encantada Silver Mine, La Parrilla Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, Del Toro Silver Mine, Santa Elena Silver & Gold Mine, and San Dimas Silver & Gold Mine.