O Domhnaill Enterprises Inc. trimmed its position in shares of First Majestic Silver Corp. (NYSE:AG – Free Report) (TSE:FR) by 35.3% during the first quarter, HoldingsChannel.com reports. The firm owned 199,467 shares of the mining company’s stock after selling 108,694 shares during the period. First Majestic Silver makes up approximately 3.5% of O Domhnaill Enterprises Inc.’s portfolio, making the stock its 6th biggest holding. O Domhnaill Enterprises Inc.’s holdings in First Majestic Silver were worth $4,285,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of AG. Lodestone Wealth Management LLC bought a new position in shares of First Majestic Silver in the fourth quarter valued at approximately $25,000. EFG International AG bought a new position in First Majestic Silver during the fourth quarter worth about $25,000. Harbor Investment Advisory LLC bought a new stake in First Majestic Silver during the 1st quarter valued at $32,000. Spire Wealth Management purchased a new stake in First Majestic Silver during the 4th quarter worth about $35,000. Finally, Aventura Private Wealth LLC purchased a new position in First Majestic Silver during the fourth quarter valued at approximately $42,000. Institutional investors own 27.16% of the company’s stock.
First Majestic Silver Stock Down 4.8%
Shares of AG traded down $0.82 during mid-day trading on Tuesday, hitting $16.49. 3,106,667 shares of the company traded hands, compared to its average volume of 19,087,010. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $19.19 and a 200 day moving average of $20.92. The company has a market capitalization of $8.13 billion, a PE ratio of 27.37 and a beta of 0.91. First Majestic Silver Corp. has a 1-year low of $7.74 and a 1-year high of $32.03.
First Majestic Silver Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were issued a $0.0171 dividend. This represents a $0.07 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 20th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio (DPR) is currently 11.67%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on AG. HC Wainwright lifted their price target on First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. Finally, BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.25.
Check Out Our Latest Stock Analysis on AG
First Majestic Silver 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.
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