U S Global Investors Inc. Invests $1.07 Million in First Majestic Silver Corp. $AG

U S Global Investors Inc. bought a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,000 shares of the mining company’s stock, valued at approximately $1,074,000.

Other large investors have also recently made changes to their positions in the company. Wealthspire Retirement LLC boosted its holdings in First Majestic Silver by 1.4% during the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after buying an additional 450 shares in the last quarter. Harbour Investments Inc. increased its holdings in First Majestic Silver by 2.9% in the fourth quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock valued at $411,000 after buying an additional 697 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in First Majestic Silver by 3.0% in the fourth quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock valued at $416,000 after buying an additional 718 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of First Majestic Silver by 13.2% in the first quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock worth $148,000 after acquiring an additional 804 shares during the period. Finally, Moors & Cabot Inc. raised its position in shares of First Majestic Silver by 2.8% in the third quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock worth $434,000 after acquiring an additional 945 shares during the period. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. HC Wainwright reduced their price target on First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a report on Friday. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

First Majestic Silver Price Performance

NYSE AG traded down $0.17 on Friday, hitting $16.99. The company had a trading volume of 8,442,059 shares, compared to its average volume of 10,635,216. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The company’s fifty day moving average price is $18.92 and its 200-day moving average price is $20.90. The company has a market capitalization of $8.38 billion, a PE ratio of 28.32 and a beta of 0.91. First Majestic Silver Corp. has a 12-month low of $7.74 and a 12-month high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $522.00 million. During the same period in the previous year, the business earned $0.05 earnings per share. The business’s revenue for the quarter was up 95.3% on a year-over-year basis. As a group, analysts predict that First Majestic Silver Corp. will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were issued a $0.0171 dividend. This represents a $0.07 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s 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.