HC Wainwright Boosts First Majestic Silver (NYSE:AG) Price Target to $8.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its price target raised by HC Wainwright from $7.00 to $8.50 in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a buy rating on the mining company’s stock.

Separately, StockNews.com raised First Majestic Silver to a sell rating in a report on Monday, February 26th.

First Majestic Silver Stock Down 0.6 %

Shares of NYSE AG opened at $6.73 on Friday. The stock has a market cap of $1.93 billion, a PE ratio of -14.02 and a beta of 1.43. The business has a fifty day moving average of $5.71 and a two-hundred day moving average of $5.50. First Majestic Silver has a 52-week low of $4.17 and a 52-week high of $8.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.04 and a current ratio of 2.57.

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

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.0048 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.29%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Wednesday, March 13th. First Majestic Silver’s payout ratio is currently -4.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in First Majestic Silver by 9.0% in the fourth quarter. Franklin Resources Inc. now owns 20,763 shares of the mining company’s stock worth $173,000 after purchasing an additional 1,717 shares during the period. IHT Wealth Management LLC increased 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 purchasing an additional 2,000 shares during the period. American Century Companies Inc. increased 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 purchasing an additional 2,000 shares during the period. CWM LLC grew its position in shares of First Majestic Silver by 59.7% during the 3rd quarter. CWM LLC now owns 5,433 shares of the mining company’s stock worth $28,000 after buying an additional 2,030 shares during the period. Finally, Profund Advisors LLC grew its position in shares of First Majestic Silver by 12.6% during the 1st quarter. Profund Advisors LLC now owns 19,117 shares of the mining company’s stock worth $138,000 after buying an additional 2,145 shares during the period. 27.16% of the stock is 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.