Investors Buy Large Volume of Call Options on First Majestic Silver (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the target of unusually large options trading activity on Friday. Stock traders acquired 28,073 call options on the company. This is an increase of approximately 75% compared to the typical volume of 16,065 call options.

First Majestic Silver Stock Performance

Shares of AG opened at $7.53 on Friday. First Majestic Silver has a 1 year low of $4.17 and a 1 year high of $8.44. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -15.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.04 and a current ratio of 2.57. The firm has a fifty day moving average of $5.42 and a 200-day moving average of $5.41.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. The company had revenue of $136.95 million during the quarter. During the same period last year, the firm posted ($0.07) EPS. As a group, equities analysts anticipate that First Majestic Silver will post -0.06 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.0048 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Wednesday, March 13th. First Majestic Silver’s payout ratio is currently -4.17%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AG shares. HC Wainwright decreased their price target on shares of First Majestic Silver from $12.00 to $6.75 and set a “buy” rating for the company in a research report on Friday, January 19th. StockNews.com raised shares of First Majestic Silver to a “sell” rating in a report on Monday, February 26th.

Institutional Investors Weigh In On First Majestic Silver

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its stake in shares of First Majestic Silver by 9.0% during the fourth quarter. Franklin Resources Inc. now owns 20,763 shares of the mining company’s stock valued at $173,000 after purchasing an additional 1,717 shares in the last quarter. IHT Wealth Management LLC raised its position in First Majestic Silver by 16.0% in the first quarter. IHT Wealth Management LLC now owns 14,512 shares of the mining company’s stock worth $191,000 after acquiring an additional 2,000 shares in the last quarter. American Century Companies Inc. raised its position in First Majestic Silver by 3.0% in the third quarter. American Century Companies Inc. now owns 68,500 shares of the mining company’s stock worth $351,000 after acquiring an additional 2,000 shares in the last quarter. CWM LLC raised its position in First Majestic Silver by 59.7% in the third quarter. CWM LLC now owns 5,433 shares of the mining company’s stock worth $28,000 after acquiring an additional 2,030 shares in the last quarter. Finally, Profund Advisors LLC raised its position in First Majestic Silver by 12.6% in the first quarter. Profund Advisors LLC now owns 19,117 shares of the mining company’s stock worth $138,000 after acquiring an additional 2,145 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

About First Majestic Silver

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.