Counterpoint Mutual Funds LLC Buys New Stake in First Majestic Silver Corp. $AG

by · The Markets Daily

Counterpoint Mutual Funds LLC purchased a new position in shares of First Majestic Silver Corp. (NYSE:AG – Free Report) (TSE:FR) during the first quarter, Holdings Channel.com reports. The fund purchased 194,537 shares of the mining company’s stock, valued at approximately $4,179,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of First Majestic Silver by 32.0% in the third quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock worth $531,234,000 after acquiring an additional 10,471,543 shares during the period. Tidal Investments LLC boosted its stake in shares of First Majestic Silver by 14.0% during the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock worth $258,273,000 after acquiring an additional 2,581,023 shares in the last quarter. Vanguard Group Inc. grew its position in shares of First Majestic Silver by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock valued at $316,914,000 after acquiring an additional 945,067 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of First Majestic Silver by 38.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock valued at $232,539,000 after acquiring an additional 5,265,612 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of First Majestic Silver by 408.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock valued at $250,821,000 after purchasing an additional 12,081,688 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $17.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The business’s 50 day moving average price is $19.24 and its 200-day moving average price is $20.88. The firm has a market capitalization of $8.78 billion, a PE ratio of 29.67 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 (NYSE:AG – Get Free Report) (TSE:FR) last posted its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The firm’s revenue for the quarter was up 95.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 earnings per share. As a group, equities research analysts expect that First Majestic Silver Corp. will post 0.74 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were paid a $0.0171 dividend. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 20th. First Majestic Silver’s payout ratio is 11.67%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AG shares. Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Finally, HC Wainwright lifted their target price on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver has an average rating of “Moderate Buy” and a consensus target price of $25.25.

Read Our Latest Stock Report on AG

First Majestic Silver Company 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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