921,410 Shares in First Majestic Silver Corp. $AG Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 921,410 shares of the mining company’s stock, valued at approximately $15,639,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EFG International AG acquired a new stake in shares of First Majestic Silver during the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC bought a new stake in First Majestic Silver during the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. grew its position in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after acquiring an additional 978 shares during the last quarter. Parallel Advisors LLC increased its holdings 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 purchasing an additional 560 shares in the last quarter. Finally, Sittner & Nelson LLC acquired a new stake in First Majestic Silver during the 4th quarter valued at $50,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Stock Up 0.2%

Shares of AG opened at $20.81 on Monday. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 29.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. The business’s fifty day moving average price is $17.68 and its two-hundred day moving average price is $20.32. First Majestic Silver Corp. has a 52 week low of $8.90 and a 52 week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. On average, analysts predict that First Majestic Silver Corp. will post 0.81 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 14th. First Majestic Silver’s dividend payout ratio (DPR) is presently 8.45%.

Analyst Upgrades and Downgrades

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

First Majestic Silver Company 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.