First Majestic Silver Corp. $AG Position Increased by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,050,155 shares of the mining company’s stock after buying an additional 739,315 shares during the quarter. Vanguard Group Inc.’s holdings in First Majestic Silver were worth $221,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Bogart Wealth LLC acquired a new position in First Majestic Silver during the third quarter valued at approximately $28,000. Sound Income Strategies LLC grew its stake in First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares during the last quarter. CWM LLC grew its stake in First Majestic Silver by 57.2% in the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after buying an additional 1,860 shares during the last quarter. AdvisorNet Financial Inc lifted its position in First Majestic Silver by 33.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after acquiring an additional 971 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in First Majestic Silver by 7,831.6% during the third quarter. Global Retirement Partners LLC now owns 6,028 shares of the mining company’s stock valued at $74,000 after acquiring an additional 5,952 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analysts Set New Price Targets

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

First Majestic Silver Trading Up 3.0%

Shares of First Majestic Silver stock opened at $32.02 on Monday. The company’s fifty day moving average price is $21.89 and its two-hundred day moving average price is $15.60. The firm has a market capitalization of $15.79 billion, a PE ratio of 91.50 and a beta of 0.75. First Majestic Silver Corp. has a 52-week low of $5.09 and a 52-week high of $32.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, beating 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 business had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue was up 169.2% on a year-over-year basis. On average, analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.0083 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date is Friday, February 27th. This represents a $0.03 annualized dividend and a dividend yield of 0.1%. First Majestic Silver’s dividend payout ratio is 8.57%.

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.