Realta Investment Advisors Acquires 98,562 Shares of First Majestic Silver Corp. $AG

Realta Investment Advisors boosted its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 19.3% in the second quarter, HoldingsChannel reports. The firm owned 608,012 shares of the mining company’s stock after purchasing an additional 98,562 shares during the quarter. First Majestic Silver accounts for about 2.0% of Realta Investment Advisors’ holdings, making the stock its 11th largest holding. Realta Investment Advisors’ holdings in First Majestic Silver were worth $5,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd raised its stake in First Majestic Silver by 66.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company’s stock worth $675,000 after purchasing an additional 40,228 shares in the last quarter. Bayforest Capital Ltd boosted its stake in First Majestic Silver by 1,978.6% in the first quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock valued at $1,431,000 after buying an additional 203,555 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of First Majestic Silver during the 1st quarter valued at approximately $1,935,000. Marotta Asset Management bought a new stake in shares of First Majestic Silver during the second quarter worth $633,000. Finally, Oppenheimer & Co. Inc. bought a new position in First Majestic Silver in the first quarter valued at about $79,000. 27.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank lifted their target price on First Majestic Silver from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Wednesday, July 9th. Wall Street Zen raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $12.75 price target on shares of First Majestic Silver in a research report on Friday, August 15th. National Bank Financial raised First Majestic Silver to a “hold” rating in a report on Thursday, June 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.63.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $12.11 on Friday. The business has a 50-day simple moving average of $9.67 and a 200 day simple moving average of $7.99. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -1,209.49 and a beta of 0.76. 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 Corp. has a 52 week low of $5.09 and a 52 week high of $13.00.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The company had revenue of $264.20 million during the quarter, compared to analysts’ expectations of $387.25 million. During the same period in the prior year, the firm earned ($0.07) EPS. First Majestic Silver’s quarterly revenue was up 94.0% on a year-over-year basis. On average, research analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, August 29th. First Majestic Silver’s dividend payout ratio is currently -200.00%.

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.