Integrated Advisors Network LLC Lowers Position in First Majestic Silver Corp. $AG

Integrated Advisors Network LLC lessened its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 63.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,000 shares of the mining company’s stock after selling 75,255 shares during the quarter. Integrated Advisors Network LLC’s holdings in First Majestic Silver were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in shares of First Majestic Silver during the third quarter valued at about $55,071,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in First Majestic Silver by 120.8% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 93,600 shares of the mining company’s stock worth $1,150,000 after purchasing an additional 51,200 shares in the last quarter. FORA Capital LLC increased its stake in First Majestic Silver by 1,216.2% in the 2nd quarter. FORA Capital LLC now owns 340,695 shares of the mining company’s stock valued at $2,818,000 after buying an additional 314,811 shares during the last quarter. Alps Advisors Inc. increased its stake in First Majestic Silver by 108.7% in the 3rd quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock valued at $88,527,000 after buying an additional 3,751,376 shares during the last quarter. Finally, Caprock Group LLC bought a new position in shares of First Majestic Silver during the 3rd quarter worth approximately $1,045,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $32.02 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. First Majestic Silver Corp. has a fifty-two week low of $5.09 and a fifty-two week high of $32.04. The stock has a market cap of $15.79 billion, a PE ratio of 91.50 and a beta of 0.75. The stock has a fifty day moving average of $21.89 and a 200-day moving average of $15.60.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $463.92 million during the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The firm’s revenue was up 169.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. Equities research analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a dividend of $0.0083 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, February 27th. First Majestic Silver’s dividend payout ratio is presently 8.57%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AG. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. Zacks Research upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research note on Friday, January 16th. Scotiabank raised their target price on First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

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.