Erste Asset Management GmbH Increases Stock Position in First Majestic Silver Corp. $AG

Erste Asset Management GmbH boosted its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 175.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,459 shares of the mining company’s stock after purchasing an additional 53,146 shares during the quarter. Erste Asset Management GmbH’s holdings in First Majestic Silver were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AG. Lodestone Wealth Management LLC purchased a new stake in First Majestic Silver in the 4th quarter worth $25,000. Spire Wealth Management purchased a new stake in First Majestic Silver in the 4th quarter worth about $35,000. Aventura Private Wealth LLC purchased a new stake in First Majestic Silver in the 4th quarter worth about $42,000. Trust Co. of Vermont purchased a new stake in First Majestic Silver in the 4th quarter worth about $43,000. Finally, Sittner & Nelson LLC purchased a new stake in First Majestic Silver in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analyst Ratings Changes

AG has been the topic of a number of recent analyst reports. HC Wainwright increased their price objective on shares of First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, First Majestic Silver has an average rating of “Moderate Buy” and an average target price of $25.25.

First Majestic Silver Price Performance

Shares of AG opened at $15.70 on Thursday. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 26.16 and a beta of 0.86. First Majestic Silver Corp. has a twelve month low of $7.74 and a twelve month high of $32.03. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $20.50 and a two-hundred day moving average of $20.58.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. First Majestic Silver’s revenue was up 95.3% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. As a group, analysts predict that First Majestic Silver Corp. will post 0.74 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were paid a $0.0171 dividend. This represents a $0.07 annualized dividend and a yield of 0.4%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 20th. First Majestic Silver’s payout ratio is 11.67%.

First Majestic Silver Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.