Jupiter Asset Management Ltd. Has $74.54 Million Position in First Majestic Silver Corp. $AG

Jupiter Asset Management Ltd. lifted its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 30.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,013,216 shares of the mining company’s stock after acquiring an additional 2,126,803 shares during the period. Jupiter Asset Management Ltd. owned approximately 1.85% of First Majestic Silver worth $74,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AG. Municipal Employees Retirement System of Michigan acquired a new stake in First Majestic Silver during the first quarter worth approximately $47,656,000. Sprott Inc. grew its position in shares of First Majestic Silver by 603.8% during the 1st quarter. Sprott Inc. now owns 4,612,904 shares of the mining company’s stock worth $30,856,000 after buying an additional 3,957,459 shares during the period. Vanguard Group Inc. increased its stake in shares of First Majestic Silver by 26.7% in the 1st quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company’s stock valued at $96,768,000 after acquiring an additional 3,051,614 shares in the last quarter. TD Asset Management Inc lifted its position in shares of First Majestic Silver by 197.2% during the 1st quarter. TD Asset Management Inc now owns 2,492,865 shares of the mining company’s stock valued at $16,662,000 after acquiring an additional 1,654,011 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in First Majestic Silver by 638.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,319,400 shares of the mining company’s stock worth $8,822,000 after acquiring an additional 1,140,700 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Up 0.6%

Shares of NYSE:AG opened at $11.95 on Wednesday. The business’s 50 day moving average is $11.95 and its 200 day moving average is $9.26. First Majestic Silver Corp. has a 12-month low of $5.09 and a 12-month high of $15.69. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -1,193.81 and a beta of 0.79. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The company had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $429.78 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 95.3% compared to the same quarter last year. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.0052 per share. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.2%. First Majestic Silver’s payout ratio is 14.29%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AG. BMO Capital Markets reaffirmed a “market perform” rating on shares of First Majestic Silver in a research note on Tuesday, October 7th. Scotiabank raised their target price on First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 5th. Finally, TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.33.

First Majestic Silver Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.