FourThought Financial Partners LLC Invests $926,000 in First Majestic Silver Corp. $AG

FourThought Financial Partners LLC purchased a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 55,596 shares of the mining company’s stock, valued at approximately $926,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AG. Van ECK Associates Corp boosted its position in shares of First Majestic Silver by 32.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock worth $531,234,000 after purchasing an additional 10,471,543 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of First Majestic Silver by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock worth $232,539,000 after purchasing an additional 5,265,612 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of First Majestic Silver in the 3rd quarter worth $55,071,000. Alps Advisors Inc. boosted its position in shares of First Majestic Silver by 108.7% in the 3rd quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock worth $88,527,000 after purchasing an additional 3,751,376 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in shares of First Majestic Silver in the 4th quarter worth $45,898,000. 27.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. HC Wainwright lifted their target price on First Majestic Silver to $30.75 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Scotiabank upgraded First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

First Majestic Silver Stock Performance

AG stock opened at $19.89 on Friday. The business’s 50-day moving average price is $21.01 and its two-hundred day moving average price is $19.84. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. The firm has a market cap of $9.82 billion, a PE ratio of 33.14 and a beta of 0.85. First Majestic Silver Corp. has a 1-year low of $5.72 and a 1-year high of $32.03.

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

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $0.0171 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, May 20th. First Majestic Silver’s dividend payout ratio is presently 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.