Twin Tree Management LP Purchases 64,569 Shares of First Majestic Silver Corp. $AG

Twin Tree Management LP increased its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 76.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,726 shares of the mining company’s stock after acquiring an additional 64,569 shares during the period. Twin Tree Management LP’s holdings in First Majestic Silver were worth $2,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneAscent Financial Services LLC acquired a new position in First Majestic Silver during the 4th quarter worth about $198,000. WINTON GROUP Ltd bought a new stake in First Majestic Silver in the 4th quarter valued at about $633,000. Total Wealth Planning & Management Inc. bought a new stake in First Majestic Silver in the 4th quarter valued at about $769,000. J.W. Cole Advisors Inc. increased its position in First Majestic Silver by 282.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 180,366 shares of the mining company’s stock valued at $3,005,000 after buying an additional 133,189 shares in the last quarter. Finally, Sittner & Nelson LLC bought a new stake in First Majestic Silver in the 4th quarter valued at about $50,000. Institutional investors own 27.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AG shares. BMO Capital Markets raised First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright boosted their target price on First Majestic Silver to $30.75 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Scotiabank raised First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, First Majestic Silver currently has an average rating of “Moderate Buy” and an average price target of $25.25.

First Majestic Silver Stock Performance

Shares of AG opened at $17.19 on Tuesday. The firm has a market capitalization of $8.49 billion, a P/E ratio of 28.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. The stock has a 50 day moving average price of $20.66 and a two-hundred day moving average price of $20.51. First Majestic Silver Corp. has a 52 week low of $7.74 and a 52 week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The business had revenue of $476.67 million during the quarter, compared to the consensus estimate of $522.00 million. During the same period in the prior year, the company earned $0.05 earnings per share. The business’s revenue was up 95.3% on a year-over-year basis. Equities analysts forecast that First Majestic Silver Corp. will post 0.74 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.0171 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 20th. First Majestic Silver’s dividend payout ratio (DPR) is currently 11.67%.

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.