First Majestic Silver Corp. $AG Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lowered its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 38.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,639,690 shares of the mining company’s stock after selling 1,031,615 shares during the period. First Majestic Silver accounts for approximately 0.8% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 29th biggest holding. Hillsdale Investment Management Inc. owned 0.33% of First Majestic Silver worth $27,406,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sprott Inc. boosted its stake in shares of First Majestic Silver by 51.8% during the third quarter. Sprott Inc. now owns 2,036,679 shares of the mining company’s stock valued at $24,974,000 after acquiring an additional 695,391 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of First Majestic Silver by 4.3% during the third quarter. Vanguard Group Inc. now owns 18,050,155 shares of the mining company’s stock valued at $221,657,000 after acquiring an additional 739,315 shares during the last quarter. Alps Advisors Inc. boosted its stake in First Majestic Silver by 108.7% in the 3rd quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock worth $88,527,000 after buying an additional 3,751,376 shares during the last quarter. Caprock Group LLC acquired a new stake in First Majestic Silver in the 3rd quarter worth about $1,045,000. Finally, Hohimer Wealth Management LLC acquired a new stake in First Majestic Silver in the 3rd quarter worth about $3,131,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AG shares. Weiss Ratings raised First Majestic Silver from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Scotiabank raised First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. HC Wainwright raised their price target on First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, BMO Capital Markets raised First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, First Majestic Silver currently has an average rating of “Moderate Buy” and an average price target of $25.25.

First Majestic Silver Stock Up 2.3%

Shares of NYSE:AG opened at $21.05 on Friday. The stock’s 50-day moving average price is $20.68 and its two-hundred day moving average price is $20.15. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a 12-month low of $6.00 and a 12-month high of $32.03. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 35.09 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The firm had revenue of $476.67 million during the quarter, compared to analysts’ expectations of $522.00 million. First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The business’s revenue for the quarter was up 95.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 earnings per share. On average, research analysts forecast that First Majestic Silver Corp. will post 0.74 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were issued a $0.0171 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 20th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is 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.