Foundations Investment Advisors LLC Increases Holdings in First Majestic Silver Corp. $AG

Foundations Investment Advisors LLC increased its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 226.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,943 shares of the mining company’s stock after buying an additional 73,443 shares during the quarter. Foundations Investment Advisors LLC’s holdings in First Majestic Silver were worth $1,765,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in First Majestic Silver in the fourth quarter valued at $25,000. Spire Wealth Management purchased a new stake in First Majestic Silver in the fourth quarter valued at $35,000. Aventura Private Wealth LLC purchased a new stake in First Majestic Silver in the fourth quarter valued at $42,000. Trust Co. of Vermont purchased a new stake in First Majestic Silver in the fourth quarter valued at $43,000. Finally, Quarry LP purchased a new stake in First Majestic Silver in the third quarter valued at $57,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

AG stock opened at $21.05 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $10.39 billion, a PE ratio of 35.09 and a beta of 0.85. First Majestic Silver Corp. has a 12-month low of $6.00 and a 12-month high of $32.03. The business’s fifty day moving average price is $20.68 and its 200 day moving average price is $20.15.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) 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 analysts’ expectations 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 quarterly revenue was up 95.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post 0.74 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were issued a $0.0171 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.07 annualized dividend and a dividend yield of 0.3%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio (DPR) is presently 11.67%.

Wall Street Analyst Weigh In

A number of research firms have commented on AG. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings upgraded First Majestic Silver from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright lifted their target price on First Majestic Silver to $30.75 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.25.

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.