First Majestic Silver Corp. $AG Position Increased by Rathbones Group PLC

Rathbones Group PLC raised its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,460 shares of the mining company’s stock after buying an additional 25,170 shares during the period. Rathbones Group PLC’s holdings in First Majestic Silver were worth $1,860,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lodestone Wealth Management LLC purchased a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $25,000. Spire Wealth Management purchased a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $35,000. Bogart Wealth LLC purchased a new stake in shares of First Majestic Silver in the 3rd quarter valued at approximately $28,000. Aventura Private Wealth LLC purchased a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $42,000. Finally, Trust Co. of Vermont purchased a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Down 0.7%

AG stock opened at $21.25 on Wednesday. First Majestic Silver Corp. has a 12-month low of $5.18 and a 12-month high of $32.03. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 60.72 and a beta of 0.97. The company has a 50 day moving average of $23.65 and a two-hundred day moving average of $18.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. The company had revenue of $463.92 million during the quarter, compared to the consensus estimate of $561.30 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue was up 169.2% compared to the same quarter last year. On average, equities analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.0083 dividend. This represents a $0.03 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, February 27th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s payout ratio is currently 8.57%.

Wall Street Analyst Weigh In

AG has been the subject of several research analyst reports. HC Wainwright upped their price target on shares of First Majestic Silver to $30.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Wall Street Zen upgraded shares of First Majestic Silver from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Scotiabank upped their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.