Olympiad Research LP Makes New $96,000 Investment in First Majestic Silver Corp. $AG

Olympiad Research LP purchased a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,630 shares of the mining company’s stock, valued at approximately $96,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in First Majestic Silver by 12.4% during the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock worth $1,994,000 after buying an additional 26,553 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of First Majestic Silver by 30.9% in the second quarter. Jupiter Asset Management Ltd. now owns 9,013,216 shares of the mining company’s stock valued at $74,539,000 after purchasing an additional 2,126,803 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of First Majestic Silver by 6.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company’s stock valued at $185,000 after purchasing an additional 1,282 shares during the period. DJE Kapital AG purchased a new position in First Majestic Silver during the second quarter valued at approximately $5,615,000. Finally, Rathbones Group PLC boosted its stake in First Majestic Silver by 43.3% during the second quarter. Rathbones Group PLC now owns 84,182 shares of the mining company’s stock valued at $696,000 after buying an additional 25,450 shares during the period. 27.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AG shares. HC Wainwright set a $17.50 price objective on First Majestic Silver in a research report on Friday, October 10th. BMO Capital Markets reissued a “market perform” rating on shares of First Majestic Silver in a report on Tuesday, October 7th. Scotiabank boosted their target price on First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. National Bank Financial upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 5th. Finally, National Bankshares set a $22.00 price target on shares of First Majestic Silver and gave the stock an “outperform” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.33.

First Majestic Silver Price Performance

Shares of AG stock opened at $12.05 on Friday. The firm’s 50-day moving average is $12.13 and its two-hundred day moving average is $9.35. First Majestic Silver Corp. has a 12 month low of $5.09 and a 12 month high of $15.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The company has a market capitalization of $5.90 billion, a PE ratio of -1,203.30 and a beta of 0.79.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data 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 business had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $429.78 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The company’s revenue was up 95.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Analysts predict 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 Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.0052 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. First Majestic Silver’s dividend payout ratio is presently 14.29%.

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.