First Majestic Silver Corp. $AG Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,918,000 shares of the mining company’s stock after acquiring an additional 437,000 shares during the quarter. Teacher Retirement System of Texas’ holdings in First Majestic Silver were worth $81,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sprott Inc. boosted its position in First Majestic Silver by 51.8% during the third quarter. Sprott Inc. now owns 2,036,679 shares of the mining company’s stock worth $24,974,000 after acquiring an additional 695,391 shares during the last quarter. Vanguard Group Inc. boosted its position in First Majestic Silver by 4.3% during the third quarter. Vanguard Group Inc. now owns 18,050,155 shares of the mining company’s stock worth $221,657,000 after acquiring an additional 739,315 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. boosted its position in First Majestic Silver by 120.8% during the third quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 93,600 shares of the mining company’s stock worth $1,150,000 after acquiring an additional 51,200 shares during the last quarter. Alps Advisors Inc. raised its stake in First Majestic Silver by 108.7% during the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock worth $88,527,000 after purchasing an additional 3,751,376 shares during the period. Finally, Caprock Group LLC purchased a new position in First Majestic Silver during the third quarter worth about $1,045,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Wall Street Zen downgraded shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 18th. 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Finally, HC Wainwright lifted their target price on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.00.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $20.85 on Thursday. The company’s 50 day simple moving average is $23.25 and its 200-day simple moving average is $18.80. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 59.58 and a beta of 0.97. First Majestic Silver Corp. has a 1 year low of $5.49 and a 1 year high of $32.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.60.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. The business’s revenue was up 169.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. As a group, equities research analysts expect that First Majestic Silver Corp. will post 0.7 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $0.0083 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.2%. First Majestic Silver’s payout ratio is presently 8.57%.

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.