First Majestic Silver Corp. $AG Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 6.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,967,831 shares of the mining company’s stock after selling 422,849 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in First Majestic Silver were worth $49,368,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sprott Inc. boosted its stake in shares of First Majestic Silver by 603.8% in the 1st quarter. Sprott Inc. now owns 4,612,904 shares of the mining company’s stock valued at $30,856,000 after buying an additional 3,957,459 shares during the period. Vanguard Group Inc. lifted its stake in First Majestic Silver by 26.7% in the first quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company’s stock worth $96,768,000 after acquiring an additional 3,051,614 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in First Majestic Silver by 30.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 9,013,216 shares of the mining company’s stock worth $74,539,000 after acquiring an additional 2,126,803 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of First Majestic Silver by 638.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,319,400 shares of the mining company’s stock valued at $8,822,000 after purchasing an additional 1,140,700 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Majestic Silver by 355.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock valued at $7,985,000 after purchasing an additional 931,690 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $15.03 on Friday. The firm’s fifty day simple moving average is $12.90 and its 200-day simple moving average is $10.06. First Majestic Silver Corp. has a 12 month low of $5.09 and a 12 month high of $16.28. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 107.36 and a beta of 0.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96.

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 analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $429.78 million. First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The firm’s revenue for the quarter was up 95.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. As a group, equities analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on AG shares. TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, October 8th. HC Wainwright set a $17.50 price target on First Majestic Silver in a report on Friday, October 10th. National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. Finally, National Bankshares set a $22.00 target price on First Majestic Silver and gave the stock an “outperform” rating in a research note on Monday, October 6th. One 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Company 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.