Capstone Investment Advisors LLC Buys Shares of 31,710 First Majestic Silver Corp. $AG

Capstone Investment Advisors LLC bought a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 2nd quarter, HoldingsChannel reports. The fund bought 31,710 shares of the mining company’s stock, valued at approximately $538,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its stake in First Majestic Silver by 77.4% in the 1st quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock worth $4,042,000 after acquiring an additional 263,688 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in First Majestic Silver by 355.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock valued at $7,985,000 after acquiring an additional 931,690 shares in the last quarter. Geode Capital Management LLC grew its stake in First Majestic Silver by 12.4% during the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock valued at $1,994,000 after acquiring an additional 26,553 shares in the last quarter. Creative Planning increased its holdings in shares of First Majestic Silver by 25.3% in the 2nd quarter. Creative Planning now owns 28,837 shares of the mining company’s stock valued at $238,000 after purchasing an additional 5,828 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of First Majestic Silver by 12.8% in the 2nd quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock valued at $215,000 after purchasing an additional 2,936 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

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

First Majestic Silver Stock Down 4.3%

Shares of First Majestic Silver stock opened at $20.81 on Friday. The firm has a market cap 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 current ratio of 2.57 and a quick ratio of 2.38. First Majestic Silver Corp. has a 52-week low of $8.90 and a 52-week high of $32.03. The stock has a 50-day simple moving average of $17.68 and a 200-day simple moving average of $20.35.

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

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.0152 dividend. This represents a $0.06 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver’s payout ratio is currently 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.