National Bank of Canada FI boosted its holdings in First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) by 693.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 541,742 shares of the mining company’s stock after buying an additional 473,482 shares during the period. National Bank of Canada FI owned 0.20% of First Majestic Silver worth $4,516,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AG. Quadrature Capital Ltd acquired a new position in First Majestic Silver during the 3rd quarter valued at approximately $504,000. BerganKDV Wealth Management LLC boosted its stake in First Majestic Silver by 94.4% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 4,000 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,942 shares during the period. Profund Advisors LLC raised its holdings in First Majestic Silver by 17.0% in the 3rd quarter. Profund Advisors LLC now owns 17,358 shares of the mining company’s stock valued at $132,000 after acquiring an additional 2,523 shares in the last quarter. Deer Park Road Corp raised its holdings in shares of First Majestic Silver by 10.1% in the 3rd quarter. Deer Park Road Corp now owns 1,855,000 shares of the mining company’s stock worth $14,135,000 after buying an additional 169,442 shares in the last quarter. Finally, Euro Pacific Asset Management LLC increased its holdings in First Majestic Silver by 8.6% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 37,121 shares of the mining company’s stock valued at $305,000 after purchasing an additional 2,947 shares in the last quarter. 30.40% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AG has been the topic of several recent research reports. BMO Capital Markets reduced their price target on First Majestic Silver from C$10.50 to C$9.00 in a research report on Friday, January 20th. HC Wainwright lowered their target price on First Majestic Silver from $12.00 to $10.50 and set a “buy” rating on the stock in a research report on Wednesday, March 22nd. TD Securities reduced their price objective on First Majestic Silver from C$11.00 to C$9.00 in a report on Tuesday, March 21st. Finally, National Bank Financial reduced their price objective on First Majestic Silver from C$14.50 to C$11.00 in a report on Tuesday, February 14th.
First Majestic Silver Stock Up 0.1 %
Shares of AG opened at $7.48 on Friday. First Majestic Silver Corp. has a one year low of $5.53 and a one year high of $14.59. The company has a market cap of $2.05 billion, a P/E ratio of -17.40 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.21 and a quick ratio of 1.83. The firm has a 50 day simple moving average of $6.98 and a two-hundred day simple moving average of $8.00.
First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last announced its quarterly earnings results on Thursday, February 23rd. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). First Majestic Silver had a negative return on equity of 3.73% and a negative net margin of 18.31%. The company had revenue of $148.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter last year, the company posted $0.02 earnings per share. Research analysts forecast that First Majestic Silver Corp. will post 0.06 EPS for the current fiscal year.
First Majestic Silver Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.27%. First Majestic Silver’s dividend payout ratio (DPR) is presently -4.65%.
About First Majestic Silver
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including the La Encantada Silver Mine, La Parrilla Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, Del Toro Silver Mine, Santa Elena Silver & Gold Mine, and San Dimas Silver & Gold Mine.