Focus Financial Network Inc. Buys New Shares in First Majestic Silver Corp. (NYSE:AG)

Focus Financial Network Inc. bought a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,000 shares of the mining company’s stock, valued at approximately $67,000.

A number of other large investors also recently modified their holdings of AG. Tidal Investments LLC lifted its stake in First Majestic Silver by 135.2% in the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock worth $74,647,000 after purchasing an additional 7,816,177 shares in the last quarter. Vanguard Group Inc. lifted its stake in First Majestic Silver by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock worth $62,784,000 after purchasing an additional 598,996 shares in the last quarter. Two Sigma Investments LP lifted its stake in First Majestic Silver by 46.8% in the 4th quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock worth $24,463,000 after purchasing an additional 1,420,937 shares in the last quarter. Renaissance Technologies LLC raised its position 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 valued at $20,638,000 after buying an additional 3,382,443 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of First Majestic Silver by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company’s stock valued at $19,060,000 after buying an additional 121,892 shares in the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

First Majestic Silver stock opened at $8.33 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. First Majestic Silver Corp. has a 1-year low of $4.43 and a 1-year high of $8.66. The firm has a market capitalization of $4.03 billion, a P/E ratio of -23.79 and a beta of 0.74. The company’s 50-day moving average is $6.44 and its 200 day moving average is $6.11.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). 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 $241.12 million during the quarter, compared to analysts’ expectations of $358.65 million. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. Research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Announces Dividend

The business also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.0045 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a yield of 0.32%. First Majestic Silver’s dividend payout ratio is currently -3.45%.

Wall Street Analysts Forecast Growth

AG has been the topic of several recent research reports. TD Securities upgraded shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. National Bank Financial upgraded shares of First Majestic Silver to a “hold” rating in a research report on Thursday. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Scotiabank restated a “sector perform” rating and set a $6.00 target price on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.75.

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.