Counterpoint Mutual Funds LLC Makes New $4.18 Million Investment in First Majestic Silver Corp. $AG

Counterpoint Mutual Funds LLC purchased a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 194,537 shares of the mining company’s stock, valued at approximately $4,179,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its position in shares of First Majestic Silver by 408.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock valued at $250,821,000 after acquiring an additional 12,081,688 shares during the period. Van ECK Associates Corp raised its stake in First Majestic Silver by 32.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock worth $531,234,000 after acquiring an additional 10,471,543 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Majestic Silver by 38.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock worth $232,539,000 after acquiring an additional 5,265,612 shares during the period. Artemis Investment Management LLP acquired a new stake in First Majestic Silver during the 4th quarter worth about $45,898,000. Finally, Tidal Investments LLC lifted its position in First Majestic Silver by 14.0% during the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock worth $258,273,000 after acquiring an additional 2,581,023 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

Shares of AG opened at $17.80 on Friday. The business’s 50-day moving average is $19.24 and its two-hundred day moving average is $20.88. The company has a market capitalization of $8.78 billion, a P/E ratio of 29.67 and a beta of 0.91. First Majestic Silver Corp. has a fifty-two week low of $7.74 and a fifty-two week high of $32.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued 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). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The company had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. During the same period last year, the firm earned $0.05 EPS. The business’s quarterly revenue was up 95.3% compared to the same quarter last year. Research analysts predict that First Majestic Silver Corp. will post 0.74 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, May 29th. Investors of record on Wednesday, May 20th were given a dividend of $0.0171 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 20th. First Majestic Silver’s dividend payout ratio (DPR) is 11.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. BMO Capital Markets raised First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, First Majestic Silver currently has a consensus rating of “Moderate Buy” and an average price target of $25.25.

About First Majestic Silver

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.