Synovus Financial Corp Acquires Shares of 75,400 First Majestic Silver Corp. (NYSE:AG)

Synovus Financial Corp bought a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 75,400 shares of the mining company’s stock, valued at approximately $452,000.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after acquiring an additional 2,253 shares during the period. Dark Forest Capital Management LP bought a new position in shares of First Majestic Silver during the second quarter valued at approximately $70,000. Y Intercept Hong Kong Ltd purchased a new position in shares of First Majestic Silver during the third quarter valued at approximately $70,000. Corundum Trust Company INC bought a new stake in shares of First Majestic Silver in the 3rd quarter worth approximately $72,000. Finally, Creative Planning purchased a new stake in shares of First Majestic Silver in the 3rd quarter worth approximately $72,000. Institutional investors own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

AG has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $8.50 price objective on shares of First Majestic Silver in a research note on Friday, October 18th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th.

First Majestic Silver Stock Performance

AG stock opened at $5.50 on Thursday. The stock has a market capitalization of $1.66 billion, a PE ratio of -20.37 and a beta of 1.25. The stock’s 50 day simple moving average is $6.63 and its 200 day simple moving average is $6.18. First Majestic Silver Corp. has a 12-month low of $4.17 and a 12-month high of $8.44. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The business had revenue of $146.09 million for the quarter. As a group, research analysts forecast that First Majestic Silver Corp. will post -0.17 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.35%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 15th. First Majestic Silver’s payout ratio is presently -3.70%.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.