Twin Tree Management LP Raises Position in First Majestic Silver Corp. $AG

Twin Tree Management LP boosted its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 76.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,726 shares of the mining company’s stock after acquiring an additional 64,569 shares during the quarter. Twin Tree Management LP’s holdings in First Majestic Silver were worth $2,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AG. Van ECK Associates Corp increased its stake in 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 valued at $531,234,000 after acquiring an additional 10,471,543 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of First Majestic Silver by 38.5% during the third 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 buying an additional 5,265,612 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of First Majestic Silver during the fourth quarter valued at about $45,898,000. Hillsdale Investment Management Inc. bought a new position in shares of First Majestic Silver during the third quarter valued at about $32,795,000. Finally, Tidal Investments LLC grew its stake in shares of First Majestic Silver by 14.0% during the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock valued at $258,273,000 after buying an additional 2,581,023 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AG shares. HC Wainwright raised their price objective on First Majestic Silver to $30.75 and gave the company 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. Scotiabank raised First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. Zacks Research cut First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.25.

First Majestic Silver Price Performance

AG stock opened at $17.19 on Tuesday. The firm has a 50 day moving average price of $20.66 and a 200-day moving average price of $20.51. First Majestic Silver Corp. has a 52-week low of $7.74 and a 52-week high of $32.03. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 28.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $476.67 million for the quarter, compared to the consensus estimate of $522.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. First Majestic Silver’s revenue was up 95.3% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. Equities research analysts forecast that First Majestic Silver Corp. will post 0.74 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

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

About First Majestic Silver

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.