TD Asset Management Inc Sells 912,473 Shares of First Majestic Silver Corp. $AG

TD Asset Management Inc cut its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 31.2% during the third quarter, Holdings Channel.com reports. The fund owned 2,008,398 shares of the mining company’s stock after selling 912,473 shares during the period. TD Asset Management Inc’s holdings in First Majestic Silver were worth $24,668,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC grew its position in shares of First Majestic Silver by 5.1% during the second quarter. Tidal Investments LLC now owns 18,433,836 shares of the mining company’s stock worth $152,448,000 after purchasing an additional 890,153 shares in the last quarter. Vanguard Group Inc. grew its holdings in First Majestic Silver by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,050,155 shares of the mining company’s stock valued at $221,657,000 after buying an additional 739,315 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First Majestic Silver by 74.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock valued at $112,880,000 after buying an additional 5,821,751 shares during the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of First Majestic Silver by 2.2% in the second quarter. Lingotto Investment Management LLP now owns 9,964,096 shares of the mining company’s stock worth $82,403,000 after buying an additional 213,577 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in shares of First Majestic Silver by 7.6% during the third quarter. Jupiter Asset Management Ltd. now owns 9,698,674 shares of the mining company’s stock worth $119,197,000 after acquiring an additional 685,458 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

NYSE AG opened at $32.02 on Friday. The business’s 50 day moving average price is $21.89 and its 200-day moving average price is $15.55. First Majestic Silver Corp. has a fifty-two week low of $5.09 and a fifty-two week high of $32.04. The company has a market cap of $15.79 billion, a P/E ratio of 91.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. The company had revenue of $463.92 million during the quarter, compared to analyst estimates of $561.30 million. During the same period in the previous year, the firm earned $0.03 earnings per share. First Majestic Silver’s quarterly revenue was up 169.2% compared to the same quarter last year. Sell-side analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $0.0083 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a yield of 0.1%. First Majestic Silver’s payout ratio is 5.71%.

Wall Street Analyst Weigh In

Several brokerages have commented on AG. Scotiabank boosted their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a report on Friday, January 16th. Zacks Research raised First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, Wall Street Zen raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, First Majestic Silver has a consensus rating of “Moderate Buy” and an average target price of $25.00.

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.