Concurrent Investment Advisors LLC Purchases Shares of 69,602 First Majestic Silver Corp. $AG

Concurrent Investment Advisors LLC acquired a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the second quarter, HoldingsChannel reports. The fund acquired 69,602 shares of the mining company’s stock, valued at approximately $1,180,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthspire Retirement LLC grew its holdings in First Majestic Silver by 1.4% during the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after purchasing an additional 450 shares during the period. M Holdings Securities Inc. increased its position in First Majestic Silver by 3.1% during the second quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company’s stock worth $285,000 after buying an additional 515 shares during the last quarter. Parallel Advisors LLC raised its stake in First Majestic Silver by 36.4% in the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after buying an additional 560 shares during the period. Harbour Investments Inc. lifted its position in shares of First Majestic Silver by 2.9% in the fourth quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock valued at $411,000 after buying an additional 697 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its position in shares of First Majestic Silver by 3.0% in the fourth quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock valued at $416,000 after buying an additional 718 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

AG opened at $20.12 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. The company has a market capitalization of $9.92 billion, a PE ratio of 28.35 and a beta of 1.00. The business has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $20.15. First Majestic Silver Corp. has a 1 year low of $9.30 and a 1 year high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. During the same quarter last year, the company posted $0.11 earnings per share. The company’s revenue was up 57.3% on a year-over-year basis. Research analysts expect that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.0152 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. First Majestic Silver’s dividend payout ratio is currently 8.45%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AG shares. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright raised their price target on First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. Finally, Scotiabank dropped their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.83.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.