MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stake in First Majestic Silver Corp. (NYSE:AG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,024,341 shares of the mining company’s stock after selling 714,027 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in First Majestic Silver were worth $38,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after buying an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of First Majestic Silver during the fourth quarter valued at about $55,000. Bank of Nova Scotia purchased a new position in shares of First Majestic Silver during the fourth quarter valued at about $57,000. Captrust Financial Advisors purchased a new position in shares of First Majestic Silver during the fourth quarter valued at about $58,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of First Majestic Silver during the fourth quarter valued at about $82,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Securities upgraded shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. HC Wainwright upped their price objective on shares of First Majestic Silver from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Friday, May 9th. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Finally, Scotiabank restated a “sector perform” rating and issued a $6.00 price objective on shares of First Majestic Silver in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.75.

First Majestic Silver Price Performance

Shares of AG opened at $5.80 on Wednesday. The firm’s 50-day simple moving average is $6.31 and its two-hundred day simple moving average is $6.09. The stock has a market cap of $2.81 billion, a PE ratio of -16.57 and a beta of 0.81. First Majestic Silver Corp. has a fifty-two week low of $4.43 and a fifty-two week high of $8.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. Analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.0057 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is currently -3.45%.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.