Synovus Financial Corp Sells 38,100 Shares of First Majestic Silver Corp. (NYSE:AG)

Synovus Financial Corp cut its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,300 shares of the mining company’s stock after selling 38,100 shares during the quarter. Synovus Financial Corp’s holdings in First Majestic Silver were worth $205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of First Majestic Silver by 897.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock worth $20,638,000 after purchasing an additional 3,382,443 shares during the period. Trexquant Investment LP boosted its position in shares of First Majestic Silver by 161.0% during the fourth quarter. Trexquant Investment LP now owns 1,026,729 shares of the mining company’s stock valued at $5,637,000 after buying an additional 633,413 shares during the period. Vanguard Group Inc. grew its stake in shares of First Majestic Silver by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock valued at $62,784,000 after buying an additional 598,996 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of First Majestic Silver in the fourth quarter worth approximately $2,486,000. Finally, Raymond James Financial Inc. bought a new stake in shares of First Majestic Silver during the 4th quarter worth approximately $2,442,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Trading Down 2.8 %

Shares of NYSE AG opened at $6.52 on Friday. The business has a fifty day moving average price of $6.13 and a 200 day moving average price of $6.19. First Majestic Silver Corp. has a 1-year low of $4.43 and a 1-year high of $8.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The stock has a market capitalization of $3.15 billion, a P/E ratio of -18.61 and a beta of 0.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The firm had revenue of $172.34 million during the quarter, compared to analysts’ expectations of $227.77 million. Equities research analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.0057 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.35%. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AG shares. TD Securities upgraded First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. Scotiabank reaffirmed a “sector perform” rating and issued a $6.00 price target on shares of First Majestic Silver in a research note on Wednesday, April 2nd. StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. Finally, National Bankshares reiterated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.50.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.