Man Group plc Takes Position in First Majestic Silver Corp. $AG

Man Group plc acquired a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 703,617 shares of the mining company’s stock, valued at approximately $11,933,000. Man Group plc owned approximately 0.14% of First Majestic Silver at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of First Majestic Silver by 5.2% in the 4th quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock worth $316,914,000 after buying an additional 945,067 shares during the last quarter. PKO Investment Management Joint Stock Co lifted its holdings in shares of First Majestic Silver by 50.5% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 238,500 shares of the mining company’s stock worth $3,986,000 after acquiring an additional 80,000 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of First Majestic Silver during the 1st quarter worth $2,593,000. Artemis Investment Management LLP purchased a new position in First Majestic Silver in the fourth quarter worth $45,898,000. Finally, Pictet Asset Management Holding SA grew its position in First Majestic Silver by 127.6% in the first quarter. Pictet Asset Management Holding SA now owns 182,238 shares of the mining company’s stock worth $3,905,000 after acquiring an additional 102,167 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Price Performance

AG stock opened at $21.72 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. First Majestic Silver Corp. has a 52 week low of $8.87 and a 52 week high of $32.03. The firm’s fifty day moving average is $17.62 and its 200 day moving average is $20.35. The firm has a market cap of $10.71 billion, a P/E ratio of 30.60 and a beta of 0.94.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.First Majestic Silver’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. Research analysts predict that First Majestic Silver Corp. will post 0.81 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.0152 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. First Majestic Silver’s payout ratio is currently 8.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AG shares. Scotiabank lowered their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. HC Wainwright raised their price objective on First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

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.