Y Intercept Hong Kong Ltd Purchases New Holdings in First Majestic Silver Corp. $AG

Y Intercept Hong Kong Ltd acquired a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 411,256 shares of the mining company’s stock, valued at approximately $8,834,000.

Other institutional investors have also added to or reduced their stakes in the company. Wealthspire Retirement LLC boosted its position in shares of First Majestic Silver by 1.4% during the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock valued at $541,000 after buying an additional 450 shares during the period. Harbour Investments Inc. lifted its stake in shares of First Majestic Silver by 2.9% during the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock worth $411,000 after acquiring an additional 697 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in First Majestic Silver by 3.0% during the 4th quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock valued at $416,000 after acquiring an additional 718 shares during the period. AdvisorNet Financial Inc grew its position in First Majestic Silver by 13.2% in the 1st quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock valued at $148,000 after acquiring an additional 804 shares during the last quarter. Finally, Moors & Cabot Inc. increased its stake in First Majestic Silver by 2.8% in the third quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock worth $434,000 after purchasing an additional 945 shares during the period. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Trading Down 0.1%

AG opened at $17.80 on Friday. The stock’s fifty day moving average is $19.24 and its two-hundred day moving average is $20.88. The company has a market capitalization of $8.78 billion, a P/E ratio of 29.67 and a beta of 0.91. First Majestic Silver Corp. has a 52 week low of $7.74 and a 52 week high of $32.03. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The firm had revenue of $476.67 million for the quarter, compared to the consensus estimate of $522.00 million. During the same period last year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was up 95.3% on a year-over-year basis. Analysts forecast that First Majestic Silver Corp. will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AG. HC Wainwright lifted their target price on First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Scotiabank raised shares of First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.25.

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.