MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 5,265,612 Shares of First Majestic Silver Corp. $AG

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 38.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,932,368 shares of the mining company’s stock after acquiring an additional 5,265,612 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in First Majestic Silver were worth $232,539,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of First Majestic Silver by 32.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock worth $531,234,000 after acquiring an additional 10,471,543 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in First Majestic Silver during the 3rd quarter worth approximately $55,071,000. Alps Advisors Inc. increased its holdings in First Majestic Silver by 108.7% during the 3rd quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock valued at $88,527,000 after purchasing an additional 3,751,376 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in First Majestic Silver in the 3rd quarter valued at $32,795,000. Finally, Jump Financial LLC raised its position in First Majestic Silver by 10,224.3% in the 2nd quarter. Jump Financial LLC now owns 2,438,392 shares of the mining company’s stock valued at $20,166,000 after purchasing an additional 2,414,774 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

AG has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Zacks Research raised First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Wall Street Zen upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Scotiabank increased their price objective on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Finally, HC Wainwright raised their price objective on shares of First Majestic Silver to $30.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.00.

First Majestic Silver Stock Down 1.7%

NYSE:AG opened at $22.18 on Tuesday. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 63.38 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The stock’s fifty day moving average price is $23.93 and its two-hundred day moving average price is $16.94. First Majestic Silver Corp. has a 52-week low of $5.18 and a 52-week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million during the quarter, compared to analysts’ expectations of $561.30 million. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The business’s revenue for the quarter was up 169.2% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. On average, analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.0083 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, February 27th. First Majestic Silver’s dividend payout ratio (DPR) is 8.57%.

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.