Lingotto Investment Management LLP Increases Stake in First Majestic Silver Corp. $AG

Lingotto Investment Management LLP raised its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,964,096 shares of the mining company’s stock after purchasing an additional 213,577 shares during the quarter. First Majestic Silver accounts for 1.8% of Lingotto Investment Management LLP’s portfolio, making the stock its 12th biggest position. Lingotto Investment Management LLP owned 2.04% of First Majestic Silver worth $82,403,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. AlphaQuest LLC bought a new stake in First Majestic Silver during the 1st quarter valued at $29,000. CWM LLC increased its position in shares of First Majestic Silver by 57.2% in the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after acquiring an additional 1,860 shares during the period. American National Bank & Trust bought a new position in shares of First Majestic Silver during the second quarter valued at about $66,000. Headlands Technologies LLC boosted its holdings in shares of First Majestic Silver by 118.3% during the first quarter. Headlands Technologies LLC now owns 12,063 shares of the mining company’s stock worth $81,000 after purchasing an additional 6,538 shares during the period. Finally, Vident Advisory LLC purchased a new stake in shares of First Majestic Silver during the first quarter worth about $82,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Down 4.2%

AG stock opened at $15.03 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $12.90 and a 200 day moving average of $10.06. First Majestic Silver Corp. has a twelve month low of $5.09 and a twelve month high of $16.28. The firm has a market cap of $7.38 billion, a PE ratio of 107.36 and a beta of 0.84.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). The company had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. First Majestic Silver’s revenue was up 95.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.0052 dividend. This represents a $0.02 annualized dividend and a yield of 0.1%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 14th. First Majestic Silver’s dividend payout ratio is presently 14.29%.

Analyst Upgrades and Downgrades

AG has been the subject of several research analyst reports. HC Wainwright set a $17.50 price objective on First Majestic Silver in a report on Friday, October 10th. TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. National Bank Financial raised shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.33.

About First Majestic Silver

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.