TD Asset Management Inc Raises Stock Position in First Majestic Silver Corp. (NYSE:AG)

TD Asset Management Inc grew its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 197.2% during the first quarter, Holdings Channel reports. The firm owned 2,492,865 shares of the mining company’s stock after purchasing an additional 1,654,011 shares during the quarter. TD Asset Management Inc’s holdings in First Majestic Silver were worth $16,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of First Majestic Silver by 1,221.6% during the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock worth $25,000 after buying an additional 3,506 shares in the last quarter. Focus Financial Network Inc. acquired a new position in shares of First Majestic Silver during the first quarter worth about $67,000. Littlejohn Financial Services Inc. acquired a new position in shares of First Majestic Silver during the first quarter worth about $68,000. Bank of Nova Scotia acquired a new position in shares of First Majestic Silver during the fourth quarter worth about $57,000. Finally, Captrust Financial Advisors acquired a new position in First Majestic Silver in the fourth quarter valued at approximately $58,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Price Performance

AG stock opened at $8.08 on Thursday. The company has a market capitalization of $3.94 billion, a P/E ratio of -27.86 and a beta of 0.82. First Majestic Silver Corp. has a twelve month low of $4.43 and a twelve month high of $9.48. The business has a 50 day simple moving average of $8.03 and a 200-day simple moving average of $6.70. The company has a current ratio of 3.19, a quick ratio of 2.74 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 earnings per share 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 analyst estimates of $358.65 million. First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. First Majestic Silver’s revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. As a group, equities analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.0045 dividend. This represents a dividend yield of 0.32%. The ex-dividend date was Friday, May 16th. First Majestic Silver’s payout ratio is currently -6.90%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AG shares. National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. HC Wainwright upped their price target on First Majestic Silver from $11.50 to $12.75 and gave the company a “buy” rating in a report on Thursday, July 10th. Scotiabank upped their price target on First Majestic Silver from $6.00 to $6.50 and gave the company a “sector perform” rating in a report on Wednesday, July 9th. Finally, National Bank Financial raised First Majestic Silver to a “hold” rating in a report on Thursday, June 12th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.63.

First Majestic Silver Profile

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.