Engineers Gate Manager LP Acquires 56,675 Shares of First Majestic Silver Corp. $AG

Engineers Gate Manager LP increased its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 95.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,087 shares of the mining company’s stock after purchasing an additional 56,675 shares during the period. Engineers Gate Manager LP’s holdings in First Majestic Silver were worth $1,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AG. Harbor Investment Advisory LLC purchased a new position in First Majestic Silver in the 1st quarter worth $32,000. PNC Financial Services Group Inc. boosted its position in First Majestic Silver by 184.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock valued at $32,000 after buying an additional 978 shares during the period. Parallel Advisors LLC boosted its position in First Majestic Silver by 36.4% during 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. Sittner & Nelson LLC bought a new position in shares of First Majestic Silver during the fourth quarter valued at about $50,000. Finally, Bard Associates Inc. purchased a new position in shares of First Majestic Silver in the fourth quarter worth about $52,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $18.66 on Wednesday. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 26.28 and a beta of 1.00. The company has a 50-day moving average price of $18.48 and a 200-day moving average price of $19.94. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a 12 month low of $9.68 and a 12 month high of $32.03.

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

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a $0.0152 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.06 annualized dividend and a yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is 8.45%.

Analysts Set New Price Targets

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

About First Majestic Silver

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.