Walser Wealth Management Company A Ltd Liability Co Makes New $710,000 Investment in First Majestic Silver Corp. $AG

Walser Wealth Management Company A Ltd Liability Co purchased a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,110 shares of the mining company’s stock, valued at approximately $710,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First Merchants Corp acquired a new stake in shares of First Majestic Silver in the third quarter valued at $478,000. Fortitude Family Office LLC acquired a new position in First Majestic Silver during the 3rd quarter worth about $39,000. Euro Pacific Asset Management LLC lifted its stake in First Majestic Silver by 20.9% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 70,499 shares of the mining company’s stock worth $1,247,000 after acquiring an additional 12,166 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in First Majestic Silver by 173.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 67,600 shares of the mining company’s stock worth $1,146,000 after acquiring an additional 42,893 shares in the last quarter. Finally, State Street Corp lifted its stake in First Majestic Silver by 17.0% during the 2nd quarter. State Street Corp now owns 12,773 shares of the mining company’s stock worth $217,000 after acquiring an additional 1,856 shares in the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AG shares. Weiss Ratings restated a “hold (c)” rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. HC Wainwright cut their price target on shares of First Majestic Silver from $27.00 to $25.50 and set a “buy” rating on the stock in a research note on Friday, October 9th. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Scotiabank reduced their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $16.08 on Friday. The firm has a market cap of $7.93 billion, a PE ratio of 22.65 and a beta of 0.97. First Majestic Silver Corp. has a 52-week low of $10.19 and a 52-week high of $32.03. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $19.17 and its two-hundred day moving average is $18.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. On average, research analysts expect that First Majestic Silver Corp. will post 0.80 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.0152 per share. This is a decrease from First Majestic Silver’s previous quarterly dividend of $0.0171. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. First Majestic Silver’s dividend payout ratio is currently 8.45%.

First Majestic Silver Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.