First Majestic Silver Corp. $AG Holdings Raised by Rathbones Group PLC

Rathbones Group PLC boosted its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 29.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,460 shares of the mining company’s stock after buying an additional 25,170 shares during the quarter. Rathbones Group PLC’s holdings in First Majestic Silver were worth $1,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AG. Van ECK Associates Corp raised its holdings in shares of First Majestic Silver by 32.0% during the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock valued at $531,234,000 after purchasing an additional 10,471,543 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Majestic Silver by 74.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock valued at $112,880,000 after purchasing an additional 5,821,751 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of First Majestic Silver during the 3rd quarter valued at $55,071,000. Alps Advisors Inc. raised its holdings in shares of First Majestic Silver by 108.7% during the 3rd quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock valued at $88,527,000 after purchasing an additional 3,751,376 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of First Majestic Silver during the 3rd quarter valued at $32,795,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

NYSE:AG opened at $21.25 on Wednesday. First Majestic Silver Corp. has a 1 year low of $5.18 and a 1 year high of $32.03. The firm’s fifty day simple moving average is $23.65 and its 200 day simple moving average is $18.16. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $10.48 billion, a PE ratio of 60.72 and a beta of 0.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $561.30 million. During the same period last year, the business posted $0.03 EPS. First Majestic Silver’s revenue was up 169.2% compared to the same quarter last year. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were paid a $0.0083 dividend. This represents a $0.03 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, February 27th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio (DPR) is 8.57%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AG. Scotiabank raised their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. HC Wainwright raised their price target on shares of First Majestic Silver to $30.00 and gave the company a “buy” rating in a report on Friday, February 20th. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Finally, BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Majestic Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

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.