First Majestic Silver (NYSE:AG) Shares Gap Up to $7.17

First Majestic Silver Corp. (NYSE:AGGet Free Report) (TSE:FR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $7.17, but opened at $7.55. First Majestic Silver shares last traded at $7.44, with a volume of 1,231,791 shares.

Wall Street Analyst Weigh In

AG has been the topic of several recent analyst reports. Scotiabank raised their price target on First Majestic Silver from $5.50 to $6.50 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. StockNews.com raised First Majestic Silver to a “sell” rating in a report on Monday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a report on Thursday, May 9th.

Check Out Our Latest Stock Report on AG

First Majestic Silver Stock Performance

The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $6.89 and a 200 day moving average price of $5.86.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.004 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.02 annualized dividend and a yield of 0.21%. First Majestic Silver’s payout ratio is -6.25%.

Institutional Investors Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC lifted its holdings in First Majestic Silver by 3.1% in the 1st quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock worth $315,000 after buying an additional 1,601 shares during the period. Virtu Financial LLC purchased a new stake in First Majestic Silver in the 1st quarter worth approximately $1,373,000. Tidal Investments LLC lifted its stake in shares of First Majestic Silver by 6,929.4% in the 1st quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company’s stock valued at $30,406,000 after purchasing an additional 5,101,271 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of First Majestic Silver in the 1st quarter valued at approximately $62,000. Finally, Bayesian Capital Management LP lifted its stake in shares of First Majestic Silver by 93.9% in the 1st quarter. Bayesian Capital Management LP now owns 61,300 shares of the mining company’s stock valued at $360,000 after purchasing an additional 29,686 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

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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