Cypress Capital Management LLC WY Purchases Shares of 79,352 First Majestic Silver Corp. $AG

Cypress Capital Management LLC WY acquired a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 79,352 shares of the mining company’s stock, valued at approximately $1,346,000. First Majestic Silver accounts for approximately 1.2% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 27th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. EFG International AG acquired a new stake in First Majestic Silver during the fourth quarter valued at $25,000. Harbor Investment Advisory LLC acquired a new position in shares of First Majestic Silver in the first quarter worth about $32,000. PNC Financial Services Group Inc. raised its position in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after acquiring an additional 978 shares during the period. Parallel Advisors LLC boosted its stake in shares of First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after acquiring an additional 560 shares in the last quarter. Finally, Sittner & Nelson LLC purchased a new stake in shares of First Majestic Silver during the 4th quarter worth about $50,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AG has been the subject of several recent analyst reports. Scotiabank cut their price target 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. HC Wainwright raised their price objective 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 upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.83.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $20.78 on Wednesday. The business has a 50 day simple moving average of $18.24 and a two-hundred day simple moving average of $20.23. First Majestic Silver Corp. has a 12 month low of $9.06 and a 12 month high of $32.03. The stock has a market capitalization of $10.24 billion, a P/E ratio of 29.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s revenue was up 57.3% on a year-over-year basis. As a group, analysts predict that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued 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 dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio is presently 8.45%.

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.