Pictet Asset Management Holding SA Increases Stock Holdings in First Majestic Silver Corp. $AG

Pictet Asset Management Holding SA increased its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 127.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 182,238 shares of the mining company’s stock after acquiring an additional 102,167 shares during the period. Pictet Asset Management Holding SA’s holdings in First Majestic Silver were worth $3,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of First Majestic Silver by 408.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock valued at $250,821,000 after purchasing an additional 12,081,688 shares during the period. Van ECK Associates Corp boosted its stake in shares of First Majestic Silver by 32.0% in the third quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock valued at $531,234,000 after purchasing an additional 10,471,543 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of First Majestic Silver by 38.5% in the third 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 purchasing an additional 5,265,612 shares during the period. Artemis Investment Management LLP acquired a new stake in First Majestic Silver during the 4th quarter valued at $45,898,000. Finally, Tidal Investments LLC increased its stake in First Majestic Silver by 14.0% during the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock worth $258,273,000 after buying an additional 2,581,023 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Trading Down 0.1%

NYSE:AG opened at $17.80 on Friday. The company has a market cap of $8.78 billion, a PE ratio of 29.67 and a beta of 0.91. The business’s 50 day moving average is $19.24 and its two-hundred day moving average is $20.88. 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 Corp. has a 52 week low of $7.74 and a 52 week high of $32.03.

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

First Majestic Silver Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. 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. Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Zacks Research cut First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.25.

First Majestic Silver Company Profile

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.