51,421 Shares in First Majestic Silver Corp. $AG Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 2nd quarter, Holdings Channel reports. The firm bought 51,421 shares of the mining company’s stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AG. AlphaQuest LLC purchased a new stake in shares of First Majestic Silver during the 1st quarter worth approximately $29,000. CWM LLC raised its holdings in First Majestic Silver by 57.2% during the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock worth $42,000 after purchasing an additional 1,860 shares during the last quarter. American National Bank & Trust acquired a new position in First Majestic Silver during the second quarter worth $66,000. MAI Capital Management boosted its position in First Majestic Silver by 83.3% during the second quarter. MAI Capital Management now owns 11,000 shares of the mining company’s stock worth $91,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in First Majestic Silver in the second quarter valued at $96,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on AG shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of First Majestic Silver in a research note on Tuesday, October 7th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. National Bankshares set a $22.00 price target on shares of First Majestic Silver and gave the company an “outperform” rating in a research report on Monday, October 6th. Scotiabank lifted their price objective on First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.33.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $15.93 on Monday. The stock has a market capitalization of $7.82 billion, a P/E ratio of 113.81 and a beta of 0.84. First Majestic Silver Corp. has a 12-month low of $5.09 and a 12-month high of $17.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The firm’s 50-day moving average is $13.30 and its two-hundred day moving average is $10.52.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The firm had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $429.78 million. During the same period in the previous year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 95.3% on a year-over-year basis. Equities analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.0052 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 14th. First Majestic Silver’s payout ratio is 14.29%.

First Majestic Silver Profile

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.