First Majestic Silver Corp. (NYSE:AG) Position Increased by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 45.2% in the 2nd quarter, Holdings Channel reports. The firm owned 212,214 shares of the mining company’s stock after purchasing an additional 66,092 shares during the quarter. Toronto Dominion Bank’s holdings in First Majestic Silver were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Nordea Investment Management AB bought a new position in shares of First Majestic Silver during the first quarter worth about $27,000. Resources Investment Advisors LLC. grew its position in shares of First Majestic Silver by 281.3% during the second quarter. Resources Investment Advisors LLC. now owns 6,100 shares of the mining company’s stock worth $48,000 after acquiring an additional 4,500 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of First Majestic Silver during the second quarter worth about $102,000. AE Wealth Management LLC bought a new position in shares of First Majestic Silver during the second quarter worth about $116,000. Finally, QCM Cayman Ltd. bought a new position in shares of First Majestic Silver during the first quarter worth about $168,000. Hedge funds and other institutional investors own 27.21% of the company’s stock.

Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of First Majestic Silver from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 17th. TheStreet upgraded shares of First Majestic Silver from a “d+” rating to a “c-” rating in a research report on Thursday, July 18th. B. Riley upped their price target on shares of First Majestic Silver from $5.95 to $8.20 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Zacks Investment Research lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, HC Wainwright increased their target price on shares of First Majestic Silver from $8.00 to $11.50 and gave the company a “buy” rating in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $9.11.

AG traded down $0.09 on Wednesday, reaching $9.71. The company had a trading volume of 40,936 shares, compared to its average volume of 4,965,351. The company has a fifty day moving average of $10.31 and a 200-day moving average of $7.72. The company has a market capitalization of $1.98 billion, a P/E ratio of -46.33 and a beta of 0.07. The company has a current ratio of 3.13, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24. First Majestic Silver Corp. has a one year low of $4.59 and a one year high of $11.62.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Wednesday, August 7th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $83.67 million during the quarter, compared to the consensus estimate of $87.77 million. First Majestic Silver had a negative net margin of 50.33% and a negative return on equity of 3.57%. During the same quarter in the prior year, the company earned ($0.07) EPS. Research analysts predict that First Majestic Silver Corp. will post 0.06 EPS for the current year.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Institutional Ownership by Quarter for First Majestic Silver (NYSE:AG)

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