Teacher Retirement System of Texas Raises Stock Position in First Majestic Silver Corp. $AG

Teacher Retirement System of Texas increased its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,918,000 shares of the mining company’s stock after purchasing an additional 437,000 shares during the period. Teacher Retirement System of Texas owned approximately 1.00% of First Majestic Silver worth $81,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Moors & Cabot Inc. grew its position in First Majestic Silver by 2.8% during the third quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock valued at $434,000 after buying an additional 945 shares during the period. AdvisorNet Financial Inc increased its holdings in First Majestic Silver by 33.2% in the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock valued at $48,000 after buying an additional 971 shares in the last quarter. Signaturefd LLC increased its holdings in First Majestic Silver by 4.7% in the third quarter. Signaturefd LLC now owns 22,275 shares of the mining company’s stock valued at $274,000 after buying an additional 1,008 shares in the last quarter. Choreo LLC increased its holdings in First Majestic Silver by 1.7% in the fourth quarter. Choreo LLC now owns 72,628 shares of the mining company’s stock valued at $1,230,000 after buying an additional 1,216 shares in the last quarter. Finally, Mariner LLC increased its holdings in First Majestic Silver by 2.7% in the third quarter. Mariner LLC now owns 51,588 shares of the mining company’s stock valued at $634,000 after buying an additional 1,366 shares in the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

AG has been the subject of a number of recent analyst reports. Scotiabank lifted their price objective on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Wall Street Zen cut shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 18th. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Finally, Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

First Majestic Silver Stock Up 3.8%

Shares of NYSE AG opened at $20.85 on Thursday. The company’s 50-day simple moving average is $23.25 and its 200-day simple moving average is $18.80. First Majestic Silver Corp. has a 52-week low of $5.49 and a 52-week high of $32.03. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 59.58 and a beta of 0.97. The company has a quick ratio of 2.41, a current ratio of 2.60 and a debt-to-equity ratio of 0.09.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. The business had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. During the same quarter last year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 169.2% compared to the same quarter last year. Equities analysts predict that First Majestic Silver Corp. will post 0.7 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a dividend of $0.0083 per share. The ex-dividend date was Friday, February 27th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a yield of 0.2%. First Majestic Silver’s dividend payout ratio (DPR) is presently 8.57%.

First Majestic Silver 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.