UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in First Majestic Silver Corp. $AG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 475,354.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 323,309 shares of the mining company’s stock after purchasing an additional 323,241 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Majestic Silver were worth $5,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AG. Tidal Investments LLC increased its position in shares of 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 valued at $258,273,000 after purchasing an additional 2,581,023 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in 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 worth $250,821,000 after buying an additional 12,081,688 shares during the period. Alps Advisors Inc. boosted its stake in First Majestic Silver by 33.6% during the fourth quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock worth $160,298,000 after buying an additional 2,418,513 shares during the period. Bank of America Corp DE increased its position in First Majestic Silver by 92.3% during the first quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after acquiring an additional 2,919,008 shares during the last quarter. Finally, Morgan Stanley increased its position in First Majestic Silver by 63.2% during the fourth quarter. Morgan Stanley now owns 3,809,109 shares of the mining company’s stock valued at $63,460,000 after acquiring an additional 1,474,412 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AG shares. HC Wainwright increased their target price on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, July 31st. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Scotiabank decreased their price objective 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. Finally, Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.83.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $20.78 on Wednesday. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $18.24 and its 200-day moving average price is $20.23. The firm has a market cap of $10.24 billion, a P/E ratio of 29.27 and a beta of 1.00. First Majestic Silver Corp. has a 12 month low of $9.06 and a 12 month high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. During the same period last year, the company earned $0.11 earnings per share. The firm’s revenue was up 57.3% compared to the same quarter last year. On average, equities research analysts expect that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were 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 was Friday, August 14th. First Majestic Silver’s dividend payout ratio is presently 8.45%.

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.