First Majestic Silver Corp. $AG Shares Bought by Rathbones Group PLC

Rathbones Group PLC raised its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 66.6% during the first quarter, HoldingsChannel reports. The firm owned 185,720 shares of the mining company’s stock after buying an additional 74,260 shares during the quarter. Rathbones Group PLC’s holdings in First Majestic Silver were worth $3,983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AG. Tidal Investments LLC grew its stake in shares of First Majestic Silver by 14.0% during the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock worth $258,273,000 after purchasing an additional 2,581,023 shares in the last quarter. Vanguard Group Inc. raised its stake in First Majestic Silver by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock valued at $316,914,000 after buying an additional 945,067 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in First Majestic Silver by 408.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock valued at $250,821,000 after buying an additional 12,081,688 shares in the last quarter. Alps Advisors Inc. lifted its holdings in First Majestic Silver by 33.6% during the 4th quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock worth $160,298,000 after buying an additional 2,418,513 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in First Majestic Silver by 92.3% during the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock worth $130,659,000 after buying an additional 2,919,008 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Stock Performance

NYSE AG opened at $16.54 on Wednesday. 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 Corp. has a 1 year low of $8.03 and a 1 year high of $32.03. The company has a market capitalization of $8.15 billion, a PE ratio of 23.30 and a beta of 0.94. The company has a fifty day moving average of $17.30 and a two-hundred day moving average of $20.72.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, July 30th. The mining company reported $0.21 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 for the quarter, compared to analyst estimates of $496.00 million. During the same quarter last year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. As a group, analysts expect that First Majestic Silver Corp. will post 0.83 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.0152 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 14th. First Majestic Silver’s dividend payout ratio (DPR) is currently 9.86%.

Wall Street Analysts Forecast Growth

AG has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Scotiabank decreased 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. Weiss Ratings downgraded First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, HC Wainwright raised their price objective on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One research 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’s stock. According to data from MarketBeat, First Majestic Silver has an average rating of “Moderate Buy” and an average target price of $23.83.

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.