Jupiter Asset Management Ltd. Lowers Holdings in First Majestic Silver Corp. $AG

Jupiter Asset Management Ltd. trimmed its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,393,080 shares of the mining company’s stock after selling 305,594 shares during the quarter. First Majestic Silver accounts for approximately 1.3% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 12th biggest holding. Jupiter Asset Management Ltd.’s holdings in First Majestic Silver were worth $156,489,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AG. Royal Bank of Canada lifted its stake in shares of First Majestic Silver by 77.4% in the 1st quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock valued at $4,042,000 after purchasing an additional 263,688 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of First Majestic Silver by 355.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock worth $7,985,000 after acquiring an additional 931,690 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of First Majestic Silver by 12.4% during the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock worth $1,994,000 after acquiring an additional 26,553 shares in the last quarter. Creative Planning boosted its stake in shares of First Majestic Silver by 25.3% during the 2nd quarter. Creative Planning now owns 28,837 shares of the mining company’s stock worth $238,000 after acquiring an additional 5,828 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of First Majestic Silver by 12.8% during the 2nd quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock worth $215,000 after acquiring an additional 2,936 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Trading Up 4.9%

Shares of AG stock opened at $20.63 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The firm has a market cap of $10.19 billion, a PE ratio of 34.39 and a beta of 0.85. The company has a 50-day moving average of $20.67 and a two-hundred day moving average of $20.14. First Majestic Silver Corp. has a 1-year low of $6.00 and a 1-year high of $32.03.

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

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 20th will be issued a $0.0171 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, May 20th. This represents a $0.07 annualized dividend and a yield of 0.3%. First Majestic Silver’s payout ratio is 11.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. HC Wainwright increased their target price on shares of First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Finally, Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. One 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. Based on data from MarketBeat.com, First Majestic Silver presently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

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.