Entropy Technologies LP Acquires Shares of 120,702 First Majestic Silver Corp. $AG

Entropy Technologies LP bought a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 120,702 shares of the mining company’s stock, valued at approximately $2,593,000.

A number of other institutional investors and hedge funds have also modified their holdings of AG. Lodestone Wealth Management LLC purchased a new position in First Majestic Silver in the 4th quarter valued at about $25,000. EFG International AG acquired a new stake in First Majestic Silver in the 4th quarter worth about $25,000. Harbor Investment Advisory LLC purchased a new stake in First Majestic Silver during the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. increased its stake in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after buying an additional 978 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of First Majestic Silver during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Trading Down 0.0%

AG opened at $16.30 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The company’s 50 day simple moving average is $17.85 and its two-hundred day simple moving average is $20.89. First Majestic Silver Corp. has a 1-year low of $7.74 and a 1-year high of $32.03. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 27.18 and a beta of 0.91.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued 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 company had revenue of $476.67 million for the quarter, compared to analyst estimates of $522.00 million. First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The company’s revenue for the quarter was up 95.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Analysts expect that First Majestic Silver Corp. will post 0.8 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were given a dividend of $0.0171 per share. The ex-dividend date was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. First Majestic Silver’s dividend payout ratio (DPR) is 11.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Scotiabank decreased their target price on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings lowered First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, HC Wainwright decreased their price objective on First Majestic Silver from $30.75 to $26.00 and set a “buy” rating on the stock in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.