Susquehanna Fundamental Investments LLC Invests $1.67 Million in First Majestic Silver Corp. $AG

Susquehanna Fundamental Investments LLC purchased a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 98,500 shares of the mining company’s stock, valued at approximately $1,671,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC acquired a new stake in First Majestic Silver in the first quarter worth $32,000. EFG International AG bought a new stake in First Majestic Silver in the fourth quarter valued at $25,000. PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $32,000 after acquiring an additional 978 shares during the period. Parallel Advisors LLC boosted its holdings in shares of First Majestic Silver by 36.4% during the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after acquiring an additional 560 shares during the period. Finally, Sittner & Nelson LLC acquired a new position in shares of First Majestic Silver during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AG. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Scotiabank reduced their target price on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright upped their target price on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

First Majestic Silver Price Performance

Shares of AG opened at $19.86 on Wednesday. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 27.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. First Majestic Silver Corp. has a one year low of $9.00 and a one year high of $32.03. The stock’s fifty day moving average is $17.80 and its 200-day moving average is $20.27.

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

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.0152 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.06 annualized dividend and a yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is presently 8.45%.

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.