Hillsdale Investment Management Inc. Acquires 44,135 Shares of First Majestic Silver Corp. $AG

Hillsdale Investment Management Inc. increased its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,683,825 shares of the mining company’s stock after buying an additional 44,135 shares during the quarter. First Majestic Silver accounts for about 1.0% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 27th largest position. Hillsdale Investment Management Inc. owned approximately 0.34% of First Majestic Silver worth $36,086,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AG. Lodestone Wealth Management LLC bought a new position in First Majestic Silver in the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC purchased a new position in shares of First Majestic Silver during the 1st quarter worth $32,000. EFG International AG bought a new stake in shares of First Majestic Silver during the 4th quarter valued at $25,000. Spire Wealth Management bought a new stake in shares of First Majestic Silver during the 4th quarter valued at $35,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of First Majestic Silver in the 4th quarter worth $42,000. 27.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on AG. HC Wainwright decreased their target price on First Majestic Silver from $30.75 to $26.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets raised First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday. Scotiabank raised First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen raised First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

First Majestic Silver Stock Performance

Shares of NYSE AG opened at $16.41 on Tuesday. The firm has a fifty day moving average price of $18.86 and a 200-day moving average price of $20.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The stock has a market cap of $8.09 billion, a PE ratio of 27.36 and a beta of 0.91. First Majestic Silver Corp. has a 1 year low of $7.74 and a 1 year high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The firm had revenue of $476.67 million for the quarter, compared to analysts’ expectations of $522.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The firm’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. Equities analysts anticipate that First Majestic Silver Corp. will post 0.75 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.0171 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 20th. First Majestic Silver’s payout ratio is 11.67%.

First Majestic Silver Profile

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.