E Fund Management Hong Kong Co. Ltd. Takes $470,000 Position in First Majestic Silver Corp. $AG

E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of First Majestic Silver Corp. (NYSE:AGFree Report) (TSE:FR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 28,216 shares of the mining company’s stock, valued at approximately $470,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AG. Royal Bank of Canada boosted its holdings in shares of First Majestic Silver by 77.4% in the first quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock worth $4,042,000 after buying an additional 263,688 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of First Majestic Silver by 355.7% in the first 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 worth $7,985,000 after buying an additional 931,690 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of First Majestic Silver by 12.4% in the second quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock worth $1,994,000 after buying an additional 26,553 shares during the last quarter. Creative Planning boosted its holdings in shares of First Majestic Silver by 25.3% in the second quarter. Creative Planning now owns 28,837 shares of the mining company’s stock worth $238,000 after buying an additional 5,828 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of First Majestic Silver by 12.8% in the second quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock worth $215,000 after buying an additional 2,936 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Key First Majestic Silver News

Here are the key news stories impacting First Majestic Silver this week:

First Majestic Silver Trading Down 0.8%

AG stock opened at $24.02 on Thursday. First Majestic Silver Corp. has a twelve month low of $5.49 and a twelve month high of $32.03. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 40.03 and a beta of 0.85. The company has a quick ratio of 2.41, a current ratio of 2.60 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $21.82 and its two-hundred day simple moving average is $19.52.

First Majestic Silver (NYSE:AGGet Free Report) (TSE:FR) last posted its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.45%. The business had revenue of $476.67 million for the quarter, compared to analysts’ expectations of $522.00 million. During the same quarter in the previous year, the firm earned $0.05 EPS. First Majestic Silver’s revenue was up 95.3% compared to the same quarter last year. As a group, analysts anticipate that First Majestic Silver Corp. will post 0.72 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.0171 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, May 20th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is currently 8.57%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. HC Wainwright lifted their price target on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a report on Tuesday. Scotiabank raised shares of First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Wall Street Zen cut shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 4th. Finally, Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, First Majestic Silver has an average rating of “Moderate Buy” and a consensus target price of $25.25.

Get Our Latest Stock Analysis on First Majestic Silver

First Majestic Silver Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for First Majestic Silver (NYSE:AG)

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