Fulcrum Asset Management LLP Invests $2.47 Million in First Majestic Silver Corp. $AG

Fulcrum Asset Management LLP bought a new stake in shares of First Majestic Silver Corp. (NYSE:AG – Free Report) (TSE:FR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 146,830 shares of the mining company’s stock, valued at approximately $2,468,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC purchased a new position in First Majestic Silver in the 1st quarter worth about $32,000. EFG International AG acquired a new stake in First Majestic Silver during the 4th quarter worth about $25,000. PNC Financial Services Group Inc. lifted its stake in First Majestic Silver by 184.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock valued at $32,000 after buying an additional 978 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of First Majestic Silver by 36.4% in the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after buying an additional 560 shares during the period. Finally, Sittner & Nelson LLC acquired a new position in shares of First Majestic Silver in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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First Majestic Silver Stock Performance

Shares of NYSE AG opened at $20.81 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. First Majestic Silver Corp. has a one year low of $8.90 and a one year high of $32.03. The business’s 50-day moving average price is $17.68 and its two-hundred day moving average price is $20.35. The company has a market capitalization of $10.26 billion, a P/E ratio of 29.31 and a beta of 0.94.

First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period last year, the business earned $0.11 earnings per share. Analysts anticipate that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a $0.0152 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. First Majestic Silver’s dividend payout ratio is currently 8.45%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Scotiabank reduced their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. HC Wainwright increased their target price on First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Finally, Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

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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.

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