Dimensional Fund Advisors LP cut its holdings in shares of First Majestic Silver Corp. (NYSE:AG – Free Report) (TSE:FR) by 12.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,655,208 shares of the mining company’s stock after selling 373,279 shares during the period. Dimensional Fund Advisors LP’s holdings in First Majestic Silver were worth $56,977,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after acquiring an additional 560 shares in the last quarter. Swiss National Bank increased its holdings in shares of First Majestic Silver by 1.1% during the first quarter. Swiss National Bank now owns 880,680 shares of the mining company’s stock valued at $18,851,000 after purchasing an additional 9,800 shares during the period. Morling Financial Advisors LLC acquired a new position in shares of First Majestic Silver during the first quarter valued at $268,000. D.A. Davidson & CO. bought a new stake in shares of First Majestic Silver during the first quarter valued at about $642,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of First Majestic Silver during the first quarter valued at about $301,000. Institutional investors own 27.16% of the company’s stock.
Key Headlines Impacting First Majestic Silver
Here are the key news stories impacting First Majestic Silver this week:
- Positive Sentiment: HC Wainwright raised its price target to $27 from $26 and reiterated a “buy” rating, implying substantial upside from recent levels. HC Wainwright price target increase
- Positive Sentiment: Analyst sentiment remains favorable, with the average price target reported at $23.50 and Seeking Alpha upgrading the stock to Buy, citing a discount to estimated intrinsic value and potential for a silver-price re-rating. Analyst average price target
- Positive Sentiment: Second-quarter free cash flow reached $194.6 million, while EBITDA rose 110% to $252 million. The company also reported a $1.09 billion cash position in one analysis, or approximately $1.3 billion including its broader treasury, strengthening its ability to fund reinvestment, acquisitions and other growth initiatives. First Majestic second-quarter free cash flow
- Neutral Sentiment: First Majestic declared a quarterly dividend of $0.0152 per share, payable August 31 to shareholders of record August 14. The payout provides income support, although its annualized yield is modest at about 0.4%.
- Negative Sentiment: Reported second-quarter EPS of $0.21 missed the $0.25 consensus estimate, while revenue of $415.5 million came in below the $496 million forecast. Although revenue increased 57.3% year over year, the shortfall may be driving near-term selling pressure. First Majestic earnings report
- Negative Sentiment: The earnings call highlighted labor disruptions, higher costs and inventory accumulation caused by silver-price volatility, creating execution and margin risks despite record revenue and strong profitability.
Analysts Set New Price Targets
View Our Latest Analysis on AG
First Majestic Silver Stock Performance
AG opened at $15.02 on Friday. The firm has a market cap of $7.41 billion, a PE ratio of 21.16 and a beta of 0.91. 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 fifty day simple moving average of $17.45 and a 200-day simple moving average of $20.77. First Majestic Silver Corp. has a fifty-two week low of $7.74 and a fifty-two week high of $32.03.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last announced its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.58% and a net margin of 21.18%.The company had revenue of $415.50 million for the quarter, compared to analyst estimates of $496.00 million. During the same period last year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. As a group, equities analysts predict that First Majestic Silver Corp. will post 0.8 EPS for the current fiscal year.
First Majestic Silver Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.0152 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. First Majestic Silver’s dividend payout ratio (DPR) is currently 9.86%.
First Majestic Silver Company 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.
Featured Stories
- Five stocks we like better than First Majestic Silver
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Want to see what other hedge funds are holding AG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Majestic Silver Corp. (NYSE:AG – Free Report) (TSE:FR).
Receive News & Ratings for First Majestic Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver and related companies with MarketBeat.com's FREE daily email newsletter.
