First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) announced a quarterly dividend on Friday, August 5, the Wall Street Journal reports. Stockholders of record on Tuesday, August 16 will receive a dividend of $0.0061 per share on Wednesday, August 31 from the mining company. That equates to an annualized dividend of $0.02 and a dividend yield of 0.29%. The ex-dividend date is Monday 15th August. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.006.
First Majestic Silver has a payout ratio of 4.8%, which means its dividend is sufficiently backed by earnings. Equity analysts expect First Majestic Silver to earn $0.47 per share over the next year, meaning the company should still be able to pay its annual dividend of $0.02 with an expected future payout ratio of 4.3% to cover.
Price history of First Majestic Silver
The NYSE AG opened at $8.37 on Friday. The stock has a 50-day simple moving average of $7.62 and a 200-day simple moving average of $10.01. First Majestic Silver has a 12-month low of $6.31 and a 12-month high of $14.67. The stock has a market cap of $2.20 billion, a P/E of -22.03 and a beta of 1.02. The company has a gearing ratio of 0.16, a quick ratio of 1.98 and a current ratio of 2.46.
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First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last released its quarterly results on Thursday, May 12th. The miner reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.08). First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 15.35%. The company had revenue of $156.84 million for the quarter. Research analysts expect First Majestic Silver to post 0.06 EPS for the year to date.
Institutional trading in First Majestic Silver
Institutional investors have recently changed their positions in the company. Renaissance Technologies LLC acquired a new interest in First Majestic Silver valued at $9,005,000 during the second quarter. Dimensional Fund Advisors LP increased its holding in First Majestic Silver stock by 127.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company, valued at $17,408,000, having purchased an additional 740,867 shares during this period. Goldman Sachs Group Inc. increased its stake in First Majestic Silver by 118.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,006,551 shares of the miner’s stock valued at $13,246,000 after purchasing an additional 546,230 shares last quarter. Vanguard Group Inc. increased its holdings in First Majestic Silver stock by 2.9% during the first quarter. Vanguard Group Inc. now owns 7,268,464 shares of the miner’s stock valued at $95,654,000 after purchasing an additional 205,369 shares last quarter. Finally, Mackenzie Financial Corp increased its position in shares of First Majestic Silver by 50.3% during the first quarter. Mackenzie Financial Corp now owns 362,626 shares of the miner’s stock, valued at $4,773,000, after buying another 121,321 shares last quarter. 39.65% of the shares are currently owned by institutional investors and hedge funds.
Changes in analyst ratings
Several brokerage firms have recently issued reports on AG. National Bank Financial lowered its price target for shares of First Majestic Silver from CAD18.00 to CAD11.75 in a research note on Thursday, July. HC Wainwright lowered its price target on shares of First Majestic Silver to $12.50 from $19.50 and gave the stock a “buy” rating in a report on Monday, July 25. BMO Capital Markets lowered its price target on shares of First Majestic Silver from C$10.00 to C$9.50 in a research report on Monday, July 25. TheStreet downgraded First Majestic Silver from a “c” rating to a “d+” rating in a research report on Friday, April 22nd. Finally, in a research note on Friday, May 13, TD Securities lowered its price target on First Majestic Silver from $20.00 to $12.00. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, First Majestic Silver currently has a consensus rating of Hold and an average target price of $11.44.
About First Majestic Silver
(received rating)
First Majestic Silver Corp. is engaged in the acquisition, exploration, development and production of mineral properties focused on silver and gold production in North America. It holds 100% interest in the 71,868 hectare San Dimas silver/gold mine located in Durango and Sinaloa states; the 102,244 hectare Santa Elena silver/gold mine in Sonora; Jerritt Canyon Gold Mine, covering approximately 30,821 hectares in Elko County, Nevada; and the La Encantada silver mine covering 4,076 hectares in Coahuila and 1,343 hectares of surface land holdings.
Further reading
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