Cypress Capital Management LLC WY Takes Position in First Majestic Silver Corp. $AG

Cypress Capital Management LLC WY acquired a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the second quarter, HoldingsChannel.com reports. The firm acquired 79,352 shares of the mining company’s stock, valued at approximately $1,346,000. First Majestic Silver makes up approximately 1.2% of Cypress Capital Management LLC WY’s portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of First Majestic Silver by 77.4% in the 1st quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock worth $4,042,000 after acquiring an additional 263,688 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of First Majestic Silver by 355.7% in 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 valued at $7,985,000 after purchasing an additional 931,690 shares during the period. Geode Capital Management LLC grew its holdings in shares of First Majestic Silver by 12.4% in the second quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock valued at $1,994,000 after purchasing an additional 26,553 shares during the period. Creative Planning increased its position in First Majestic Silver by 25.3% during the second quarter. Creative Planning now owns 28,837 shares of the mining company’s stock worth $238,000 after purchasing an additional 5,828 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in First Majestic Silver by 12.8% during the second quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock worth $215,000 after purchasing an additional 2,936 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Trading Down 0.9%

Shares of AG stock opened at $20.78 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. The firm has a market cap of $10.24 billion, a PE ratio of 29.27 and a beta of 1.00. The company has a 50-day moving average of $18.24 and a two-hundred day moving average of $20.23. First Majestic Silver Corp. has a 1-year low of $9.06 and a 1-year high of $32.03.

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

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a $0.0152 dividend. This represents a $0.06 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, August 14th. First Majestic Silver’s dividend payout ratio (DPR) is 8.45%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Scotiabank reduced their price target on shares of 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. HC Wainwright upped 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 lowered 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. According to MarketBeat.com, First Majestic Silver currently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

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.