Fox Run Management L.L.C. Sells 18,182 Shares of First Majestic Silver Corp. $AG

Fox Run Management L.L.C. decreased its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 34.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 34,786 shares of the mining company’s stock after selling 18,182 shares during the period. Fox Run Management L.L.C.’s holdings in First Majestic Silver were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AG. Vanguard Group Inc. boosted its holdings in First Majestic Silver by 26.7% in the first quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company’s stock valued at $96,768,000 after acquiring an additional 3,051,614 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of First Majestic Silver by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,845,005 shares of the mining company’s stock worth $52,436,000 after purchasing an additional 820,664 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in shares of First Majestic Silver in the 1st quarter valued at $47,656,000. Jupiter Asset Management Ltd. bought a new stake in shares of First Majestic Silver in the 1st quarter valued at $46,070,000. Finally, Sprott Inc. increased its position in shares of First Majestic Silver by 603.8% during the first quarter. Sprott Inc. now owns 4,612,904 shares of the mining company’s stock worth $30,856,000 after buying an additional 3,957,459 shares during the period. 27.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AG has been the topic of a number of research analyst reports. National Bank Financial raised shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. HC Wainwright set a $17.50 price objective on First Majestic Silver in a research note on Friday, October 10th. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Scotiabank lifted their target price on First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.33.

First Majestic Silver Stock Down 2.9%

Shares of NYSE:AG opened at $12.21 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. First Majestic Silver Corp. has a 52-week low of $5.09 and a 52-week high of $15.69. The business’s 50 day simple moving average is $12.07 and its two-hundred day simple moving average is $9.30. The firm has a market cap of $5.98 billion, a P/E ratio of -1,219.28 and a beta of 0.79.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $429.78 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The firm’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) earnings per share. As a group, research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.0052 dividend. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, November 14th. First Majestic Silver’s payout ratio is presently 14.29%.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.