MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $232.54 Million Stock Holdings in First Majestic Silver Corp. $AG

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 38.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,932,368 shares of the mining company’s stock after acquiring an additional 5,265,612 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 3.86% of First Majestic Silver worth $232,539,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC bought a new stake in shares of First Majestic Silver in the 3rd quarter worth approximately $1,021,000. Integrated Wealth Concepts LLC grew its holdings in shares of First Majestic Silver by 30.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 13,436 shares of the mining company’s stock worth $165,000 after purchasing an additional 3,120 shares in the last quarter. Jain Global LLC bought a new stake in shares of First Majestic Silver during the third quarter valued at approximately $226,000. Cantor Fitzgerald L. P. acquired a new position in shares of First Majestic Silver in the third quarter valued at $318,000. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of First Majestic Silver by 86.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 318,042 shares of the mining company’s stock valued at $3,909,000 after purchasing an additional 147,342 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AG. BMO Capital Markets reaffirmed a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. Wall Street Zen upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. HC Wainwright raised their price objective on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Zacks Research upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Scotiabank upped their target price on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Majestic Silver has an average rating of “Moderate Buy” and a consensus target price of $25.00.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $22.18 on Tuesday. The business has a 50 day simple moving average of $23.93 and a 200 day simple moving average of $16.94. 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 company has a market capitalization of $10.94 billion, a PE ratio of 63.38 and a beta of 0.76. First Majestic Silver Corp. has a one year low of $5.18 and a one year high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly 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 return on equity of 7.41% and a net margin of 13.12%.The firm had revenue of $463.92 million for the quarter, compared to analysts’ expectations of $561.30 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue was up 169.2% compared to the same quarter last year. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $0.0083 dividend. This represents a $0.03 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s payout ratio is currently 8.57%.

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.