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First Majestic Silver (TSE:FR) Share Price Crosses Above Fifty Day Moving Average of $9.89

Defense World · Sep 30, 2022 03:22

First Majestic Silver Corp. (TSE:FR – Get Rating) (NYSE:AG) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$9.89 and traded as high as C$9.96. First Majestic Silver shares last traded at C$9.96, with a volume of 602,494 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FR. Cormark boosted their target price on shares of First Majestic Silver from C$12.50 to C$14.25 in a research note on Friday, August 5th. National Bankshares cut their price objective on shares of First Majestic Silver from C$18.00 to C$11.75 and set a "sector perform" rating on the stock in a research report on Thursday, July 21st. Finally, BMO Capital Markets upped their price target on shares of First Majestic Silver from C$9.50 to C$10.25 in a research report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$13.55.

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First Majestic Silver Stock Performance

The firm has a market cap of C$2.62 billion and a P/E ratio of 3,320.00. The business has a fifty day simple moving average of C$9.89 and a 200-day simple moving average of C$11.72. The company has a quick ratio of 1.25, a current ratio of 2.47 and a debt-to-equity ratio of 16.56.

First Majestic Silver (TSE:FR – Get Rating) (NYSE:AG) last posted its quarterly earnings data on Thursday, August 4th. The mining company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.04). The firm had revenue of C$203.51 million during the quarter. On average, sell-side analysts predict that First Majestic Silver Corp. will post 0.42 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 16th were given a $0.008 dividend. This represents a $0.03 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, August 15th. First Majestic Silver's payout ratio is 826.67%.

Insider Transactions at First Majestic Silver

In other news, Senior Officer Todd Olson Anthony purchased 7,500 shares of the company's stock in a transaction on Thursday, September 22nd. The shares were acquired at an average price of C$10.10 per share, for a total transaction of C$75,750.00. Following the purchase, the insider now owns 200,000 shares in the company, valued at C$2,020,000. In the last three months, insiders purchased 44,745 shares of company stock valued at $424,093.

About First Majestic Silver

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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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.