Teacher Retirement System of Texas Acquires New Position in First Majestic Silver Corp. $AG

Teacher Retirement System of Texas bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,481,000 shares of the mining company’s stock, valued at approximately $55,071,000. Teacher Retirement System of Texas owned about 0.91% of First Majestic Silver as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in First Majestic Silver by 77.4% during the first quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock worth $4,042,000 after purchasing an additional 263,688 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of First Majestic Silver by 355.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock worth $7,985,000 after purchasing an additional 931,690 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of First Majestic Silver by 9.2% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 23,703 shares of the mining company’s stock worth $196,000 after buying an additional 2,001 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of First Majestic Silver by 9.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 130,021 shares of the mining company’s stock valued at $1,074,000 after buying an additional 10,907 shares during the period. Finally, American National Bank & Trust bought a new stake in shares of First Majestic Silver during the 2nd quarter valued at about $66,000. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Stock Up 9.2%

Shares of First Majestic Silver stock opened at $24.24 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. First Majestic Silver Corp. has a 1-year low of $5.09 and a 1-year high of $24.35. The business’s fifty day moving average price is $16.50 and its two-hundred day moving average price is $12.58. The company has a market capitalization of $11.91 billion, a P/E ratio of 173.14 and a beta of 0.77.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 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 7.07% and a return on equity of 3.14%. First Majestic Silver’s revenue for the quarter was up 95.3% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. As a group, research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.0052 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 14th. First Majestic Silver’s payout ratio is 14.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AG shares. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. Scotiabank raised their price target 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. National Bankshares set a $22.00 price objective on First Majestic Silver and gave the stock an “outperform” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday. Finally, National Bank Financial upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, First Majestic Silver presently has an average rating of “Moderate Buy” and an average target price of $19.67.

First Majestic Silver 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.