Hillsdale Investment Management Inc. Boosts Holdings in First Majestic Silver Corp. $AG

Hillsdale Investment Management Inc. boosted its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 2.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,683,825 shares of the mining company’s stock after purchasing an additional 44,135 shares during the quarter. First Majestic Silver makes up approximately 1.0% of Hillsdale Investment Management Inc.’s holdings, making the stock its 27th biggest position. Hillsdale Investment Management Inc.’s holdings in First Majestic Silver were worth $36,086,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tudor Investment Corp ET AL boosted its position in shares of First Majestic Silver by 891.5% during the third quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock worth $3,008,000 after acquiring an additional 220,056 shares during the last quarter. Confluence Investment Management LLC purchased a new position in First Majestic Silver during the fourth quarter valued at $1,514,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in First Majestic Silver by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock valued at $232,539,000 after acquiring an additional 5,265,612 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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 valued at $316,914,000 after acquiring an additional 945,067 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co lifted its stake in First Majestic Silver by 50.5% in 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 purchasing an additional 80,000 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AG. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Scotiabank raised First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. HC Wainwright dropped their price target on First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a research note on Friday. Finally, Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.67.

First Majestic Silver Trading Down 3.2%

AG opened at $16.41 on Tuesday. The firm has a market cap of $8.09 billion, a P/E ratio of 27.36 and a beta of 0.91. First Majestic Silver Corp. has a 12 month low of $7.74 and a 12 month high of $32.03. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $18.86 and a 200 day moving average of $20.91.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $476.67 million for the quarter, compared to the consensus estimate of $522.00 million. First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The company’s revenue was up 95.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. As a group, research analysts forecast that First Majestic Silver Corp. will post 0.75 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.0171 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.07 annualized dividend and a dividend yield of 0.4%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is presently 11.67%.

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.