First Majestic Silver Corp. $AG Shares Sold by Lincoln Capital Corp

Lincoln Capital Corp lessened its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 35.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,150 shares of the mining company’s stock after selling 25,000 shares during the quarter. Lincoln Capital Corp’s holdings in First Majestic Silver were worth $766,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new stake in First Majestic Silver in the 1st quarter valued at approximately $32,000. EFG International AG purchased a new stake in First Majestic Silver in the fourth quarter valued at approximately $25,000. PNC Financial Services Group Inc. lifted its stake in First Majestic Silver by 184.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after purchasing an additional 978 shares in the last quarter. Parallel Advisors LLC lifted its stake in First Majestic Silver by 36.4% during the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after purchasing an additional 560 shares in the last quarter. Finally, Sittner & Nelson LLC purchased a new position in shares of First Majestic Silver during the fourth quarter worth $50,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

AG has been the subject of a number of research reports. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings downgraded shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Scotiabank decreased 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. ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Finally, HC Wainwright upped their price objective on First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.83.

First Majestic Silver Trading Down 4.3%

Shares of First Majestic Silver stock opened at $20.81 on Friday. The company has a fifty day simple moving average of $17.68 and a 200-day simple moving average of $20.35. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 29.31 and a beta of 0.94. First Majestic Silver Corp. has a 12-month low of $8.90 and a 12-month high of $32.03. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08.

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

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.0152 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver’s dividend payout ratio is presently 8.45%.

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.