Capstone Investment Advisors LLC Buys Shares of 31,710 First Majestic Silver Corp. $AG

Capstone Investment Advisors LLC purchased a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,710 shares of the mining company’s stock, valued at approximately $538,000.

A number of other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its stake in shares of First Majestic Silver by 408.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock valued at $250,821,000 after acquiring an additional 12,081,688 shares during the period. The Manufacturers Life Insurance Company bought a new position in First Majestic Silver during the 2nd quarter valued at $59,610,000. Renaissance Technologies LLC acquired a new position in shares of First Majestic Silver during the 1st quarter valued at $62,760,000. Bank of America Corp DE increased its position in shares of First Majestic Silver by 92.3% during the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after purchasing an additional 2,919,008 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in shares of First Majestic Silver in the 4th quarter worth $45,898,000. 27.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

First Majestic Silver Stock Performance

Shares of NYSE AG opened at $20.81 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 29.31 and a beta of 0.94. The stock’s fifty day simple moving average is $17.68 and its 200 day simple moving average is $20.35. First Majestic Silver Corp. has a 52-week low of $8.90 and a 52-week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $496.00 million. During the same period in the prior year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 57.3% on a year-over-year basis. As a group, sell-side analysts forecast that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

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

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.