First Majestic Silver Corp. $AG Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH lifted its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 175.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 83,459 shares of the mining company’s stock after purchasing an additional 53,146 shares during the quarter. Erste Asset Management GmbH’s holdings in First Majestic Silver were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of First Majestic Silver during the fourth quarter worth $25,000. Spire Wealth Management purchased a new position in shares of First Majestic Silver during the fourth quarter worth $35,000. Aventura Private Wealth LLC purchased a new position in shares of First Majestic Silver during the fourth quarter worth $42,000. Trust Co. of Vermont purchased a new position in shares of First Majestic Silver during the fourth quarter worth $43,000. Finally, Sittner & Nelson LLC purchased a new position in shares of First Majestic Silver during the fourth quarter worth $50,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Scotiabank raised shares of First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. 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. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, HC Wainwright lifted their price objective on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a report on Tuesday, May 12th. One 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 has an average rating of “Moderate Buy” and a consensus target price of $25.25.

First Majestic Silver Stock Down 5.1%

Shares of NYSE AG opened at $15.70 on Thursday. The company’s 50-day simple moving average is $20.50 and its 200-day simple moving average is $20.58. First Majestic Silver Corp. has a 52-week low of $7.74 and a 52-week high of $32.03. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 26.16 and a beta of 0.86. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. During the same quarter last year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 95.3% compared to the same quarter last year. Equities analysts predict that First Majestic Silver Corp. will post 0.74 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were given a dividend of $0.0171 per share. The ex-dividend date was Wednesday, May 20th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. First Majestic Silver’s dividend payout ratio (DPR) is presently 11.67%.

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.