Sigma Planning Corp Cuts Position in First Majestic Silver Corp. $AG

Sigma Planning Corp decreased its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 72.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,802 shares of the mining company’s stock after selling 36,047 shares during the period. Sigma Planning Corp’s holdings in First Majestic Silver were worth $234,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AG. Vanguard Group Inc. increased its position in First Majestic Silver by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock valued at $316,914,000 after buying an additional 945,067 shares in the last quarter. Entropy Technologies LP bought a new stake in First Majestic Silver in the first quarter worth $2,593,000. Pictet Asset Management Holding SA boosted its holdings in First Majestic Silver by 127.6% in the first quarter. Pictet Asset Management Holding SA now owns 182,238 shares of the mining company’s stock worth $3,905,000 after acquiring an additional 102,167 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of First Majestic Silver by 226.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 105,943 shares of the mining company’s stock worth $1,765,000 after acquiring an additional 73,443 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of First Majestic Silver by 18,702.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 58,476 shares of the mining company’s stock worth $974,000 after acquiring an additional 58,165 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Price Performance

NYSE AG opened at $21.20 on Thursday. First Majestic Silver Corp. has a one year low of $9.04 and a one year high of $32.03. The stock has a 50-day moving average of $17.90 and a 200 day moving average of $20.27. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 29.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $415.50 million for the quarter, compared to the consensus estimate of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. First Majestic Silver’s revenue was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 EPS. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.0152 per share. The ex-dividend date was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. First Majestic Silver’s dividend payout ratio is 8.45%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Scotiabank reduced their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright raised their price objective 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 raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings downgraded shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.83.

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.