Pictet Asset Management Holding SA Raises Stake in First Majestic Silver Corp. $AG

Pictet Asset Management Holding SA lifted its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 127.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 182,238 shares of the mining company’s stock after buying an additional 102,167 shares during the period. Pictet Asset Management Holding SA’s holdings in First Majestic Silver were worth $3,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Wealthspire Retirement LLC grew its stake in First Majestic Silver by 1.4% in the 4th quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after acquiring an additional 450 shares during the period. Harbour Investments Inc. lifted its stake in shares of First Majestic Silver by 2.9% during the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock worth $411,000 after purchasing an additional 697 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of First Majestic Silver by 3.0% during the fourth quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock worth $416,000 after purchasing an additional 718 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of First Majestic Silver by 13.2% during the first quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock worth $148,000 after purchasing an additional 804 shares during the last quarter. Finally, Moors & Cabot Inc. grew its position in shares of First Majestic Silver by 2.8% in the third quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock valued at $434,000 after purchasing an additional 945 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AG shares. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank upgraded First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, HC Wainwright increased their price objective on shares of First Majestic Silver to $30.75 and gave the stock a “buy” rating in a 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.25.

First Majestic Silver Trading Down 0.1%

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

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

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.