Renaissance Technologies LLC Purchases Shares of 2,921,792 First Majestic Silver Corp. $AG

Renaissance Technologies LLC acquired a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the first quarter, HoldingsChannel reports. The institutional investor acquired 2,921,792 shares of the mining company’s stock, valued at approximately $62,760,000.

Several other institutional investors have also modified their holdings of the stock. Wealthspire Retirement LLC boosted its holdings in shares of First Majestic Silver by 1.4% in the 4th 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 in the last quarter. Parallel Advisors LLC raised its stake in First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after acquiring an additional 560 shares in the last quarter. Harbour Investments Inc. raised its stake in 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 in the last quarter. Orion Porfolio Solutions LLC lifted its position in First Majestic Silver by 3.0% in the fourth 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 last quarter. Finally, AdvisorNet Financial Inc lifted its position in First Majestic Silver by 13.2% in the first 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. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AG shares. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Finally, Scotiabank cut their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, First Majestic Silver has a consensus rating of “Moderate Buy” and an average target price of $23.50.

First Majestic Silver Stock Down 0.0%

AG stock opened at $16.30 on Monday. The stock has a market capitalization of $8.04 billion, a PE ratio of 27.18 and a beta of 0.91. The company has a fifty day moving average of $17.85 and a 200-day moving average of $20.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. First Majestic Silver Corp. has a one year low of $7.74 and a one year high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced 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 net margin of 19.51% and a return on equity of 11.19%. The firm had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. During the same quarter in the previous year, the business earned $0.05 EPS. First Majestic Silver’s revenue for the quarter was up 95.3% on a year-over-year basis. As a group, analysts expect that First Majestic Silver Corp. will post 0.8 EPS for the current year.

First Majestic Silver Increases Dividend

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

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.