Royal Bank of Canada Sells 225,935 Shares of First Majestic Silver Corp. $AG

Royal Bank of Canada decreased its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 50.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 226,376 shares of the mining company’s stock after selling 225,935 shares during the period. Royal Bank of Canada’s holdings in First Majestic Silver were worth $4,863,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new position in shares of First Majestic Silver in the 1st quarter valued at approximately $32,000. EFG International AG purchased a new stake in First Majestic Silver in the fourth quarter worth $25,000. PNC Financial Services Group Inc. grew its stake in First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after purchasing an additional 978 shares during the period. Parallel Advisors LLC raised its holdings in First Majestic Silver by 36.4% in the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after purchasing an additional 560 shares in the last quarter. Finally, Sittner & Nelson LLC bought a new position in First Majestic Silver in the fourth quarter worth $50,000. Institutional investors own 27.16% of the company’s stock.

Analyst Ratings Changes

AG has been the topic of a number of research reports. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Scotiabank decreased their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. HC Wainwright lifted their price target on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.83.

First Majestic Silver Stock Down 1.8%

AG stock opened at $18.81 on Friday. The business has a 50 day moving average of $17.03 and a 200 day moving average of $20.52. The firm has a market cap of $9.27 billion, a PE ratio of 26.50 and a beta of 0.94. First Majestic Silver Corp. has a twelve month low of $8.34 and a twelve month high of $32.03. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The company had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. During the same period last year, the firm posted $0.11 earnings per share. The company’s revenue was up 57.3% compared to the same quarter last year. On average, research analysts forecast that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.0152 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver’s payout ratio is currently 9.86%.

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.