First Majestic Silver Corp. $AG Stake Increased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. raised its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 190.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 56,846 shares of the mining company’s stock after purchasing an additional 37,303 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in First Majestic Silver were worth $699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new stake in First Majestic Silver during the third quarter worth about $55,071,000. Capital Management Associates Inc acquired a new stake in First Majestic Silver in the 2nd quarter valued at approximately $333,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its holdings in shares of First Majestic Silver by 120.8% during the third quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 93,600 shares of the mining company’s stock valued at $1,150,000 after purchasing an additional 51,200 shares during the period. FORA Capital LLC raised its position in shares of First Majestic Silver by 1,216.2% during the 2nd quarter. FORA Capital LLC now owns 340,695 shares of the mining company’s stock worth $2,818,000 after buying an additional 314,811 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in First Majestic Silver by 157.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,420,322 shares of the mining company’s stock valued at $11,762,000 after purchasing an additional 869,697 shares in the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AG shares. HC Wainwright raised their price objective on shares of First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a research report on Friday, January 16th. Scotiabank upped their price target on First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research report on Monday. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. National Bank Financial raised First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Finally, TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. One investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.17.

First Majestic Silver Stock Up 0.1%

Shares of NYSE AG opened at $25.74 on Wednesday. First Majestic Silver Corp. has a 52-week low of $5.09 and a 52-week high of $27.90. The stock has a market cap of $12.65 billion, a PE ratio of 183.89 and a beta of 0.77. The business has a fifty day moving average of $17.33 and a two-hundred day moving average of $13.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38.

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 firm had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.First Majestic Silver’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) earnings per share. As a group, equities research analysts expect that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal 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 dividend of $0.0052 per share. This is a positive change 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 dividend payout ratio is currently 14.29%.

First Majestic Silver Company 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.