Man Group plc Takes $11.93 Million Position in First Majestic Silver Corp. $AG

Man Group plc bought a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 2nd quarter, Holdings Channel.com reports. The firm bought 703,617 shares of the mining company’s stock, valued at approximately $11,933,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AG. Wealthspire Retirement LLC increased its stake in shares of First Majestic Silver by 1.4% in the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after buying an additional 450 shares during the period. Parallel Advisors LLC boosted its position in First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after buying an additional 560 shares during the period. Harbour Investments Inc. grew its holdings in First Majestic Silver by 2.9% in the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock worth $411,000 after acquiring an additional 697 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in First Majestic Silver by 3.0% in the 4th quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock worth $416,000 after acquiring an additional 718 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in First Majestic Silver by 13.2% in the 1st quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock worth $148,000 after acquiring an additional 804 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

First Majestic Silver Stock Performance

NYSE:AG opened at $21.72 on Friday. The stock has a market cap of $10.71 billion, a P/E ratio of 30.60 and a beta of 0.94. The firm’s fifty day simple moving average is $17.62 and its 200 day simple moving average is $20.35. First Majestic Silver Corp. has a twelve month low of $8.87 and a twelve month high of $32.03. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $496.00 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. As a group, research analysts predict 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 will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.0152 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. First Majestic Silver’s payout ratio is presently 8.45%.

About First Majestic Silver

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.