Integrated Advisors Network LLC Trims Stake in First Majestic Silver Corp. $AG

Integrated Advisors Network LLC lessened its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 63.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,000 shares of the mining company’s stock after selling 75,255 shares during the period. Integrated Advisors Network LLC’s holdings in First Majestic Silver were worth $528,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in First Majestic Silver by 74.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock worth $112,880,000 after acquiring an additional 5,821,751 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of First Majestic Silver during the third quarter worth about $55,071,000. Alps Advisors Inc. grew its holdings in shares of First Majestic Silver by 108.7% during the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock worth $88,527,000 after purchasing an additional 3,751,376 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of First Majestic Silver in the third quarter worth approximately $32,795,000. Finally, Jump Financial LLC raised its stake in First Majestic Silver by 10,224.3% in the second quarter. Jump Financial LLC now owns 2,438,392 shares of the mining company’s stock valued at $20,166,000 after purchasing an additional 2,414,774 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AG. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. Scotiabank increased their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Wall Street Zen upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. BMO Capital Markets reiterated a “market perform” rating on shares of First Majestic Silver in a report on Friday, January 16th. Finally, HC Wainwright increased their target price on First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

First Majestic Silver Trading Up 3.0%

Shares of NYSE AG opened at $32.02 on Monday. First Majestic Silver Corp. has a 1 year low of $5.09 and a 1 year high of $32.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The firm has a 50-day moving average of $21.89 and a 200 day moving average of $15.60. The stock has a market cap of $15.79 billion, a P/E ratio of 91.50 and a beta of 0.75.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. The business had revenue of $463.92 million during the quarter, compared to the consensus estimate of $561.30 million. During the same quarter last year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was up 169.2% on a year-over-year basis. As a group, sell-side analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.0083 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.03 dividend on an annualized basis and a yield of 0.1%. First Majestic Silver’s dividend payout ratio is 8.57%.

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.