First Majestic Silver said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.02 annualized). Previously, the company paid $0.01 per share.
Shares must be purchased before the ex-div date of May 17, 2023 to qualify for the dividend. Shareholders of record as of May 18, 2023 will receive the payment on June 9, 2023.
At the current share price of $6.97 / share, the stock's dividend yield is 0.33%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.27%, the lowest has been 0.11%, and the highest has been 0.49%. The standard deviation of yields is 0.09 (n=237).
The current dividend yield is 0.61 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.03. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 280 funds or institutions reporting positions in First Majestic Silver. This is an increase of 8 owner(s) or 2.94% in the last quarter. Average portfolio weight of all funds dedicated to AG is 0.14%, a decrease of 10.12%. Total shares owned by institutions increased in the last three months by 8.14% to 126,771K shares. The put/call ratio of AG is 0.36, indicating a bullish outlook.
- For more in-depth coverage of First Majestic Silver, view the free, crowd-sourced company research report on Finpedia.
Analyst Price Forecast Suggests 34.27% Upside
As of April 24, 2023, the average one-year price target for First Majestic Silver is 9.36. The forecasts range from a low of 7.82 to a high of $11.48. The average price target represents an increase of 34.27% from its latest reported closing price of 6.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First Majestic Silver is 818MM. The projected annual non-GAAP EPS is 0.32.
What are Other Shareholders Doing?
Van Eck Associates holds 29,511K shares representing 10.75% ownership of the company. In it's prior filing, the firm reported owning 26,311K shares, representing an increase of 10.84%. The firm decreased its portfolio allocation in AG by 14.55% over the last quarter.
GDX - VanEck Vectors Gold Miners ETF holds 13,619K shares representing 4.96% ownership of the company. In it's prior filing, the firm reported owning 13,483K shares, representing an increase of 1.00%. The firm decreased its portfolio allocation in AG by 13.36% over the last quarter.
Etf Managers Group holds 12,903K shares representing 4.70% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
SILJ - ETFMG Prime Junior Silver Miners ETF holds 11,224K shares representing 4.09% ownership of the company. In it's prior filing, the firm reported owning 9,986K shares, representing an increase of 11.03%. The firm increased its portfolio allocation in AG by 5.45% over the last quarter.
GDXJ - VanEck Vectors Junior Gold Miners ETF holds 10,313K shares representing 3.76% ownership of the company. In it's prior filing, the firm reported owning 10,117K shares, representing an increase of 1.90%. The firm decreased its portfolio allocation in AG by 10.28% over the last quarter.
First Majestic Silver Background Information
(This description is provided by the company.)
First Majestic is a publicly traded mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine. Production from these mines are projected to be between 12.5 to 13.9 million silver ounces or 20.6 to 22.9 million silver equivalent ounces in 2021.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.