First Majestic Silver Corp. $AG Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 25.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 220,814 shares of the mining company’s stock after selling 75,722 shares during the quarter. NewEdge Advisors LLC’s holdings in First Majestic Silver were worth $4,743,000 as of its most recent filing with the SEC.

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

First Majestic Silver Trading Up 0.7%

NYSE AG opened at $18.98 on Wednesday. The stock has a market cap of $9.35 billion, a P/E ratio of 26.74 and a beta of 0.94. The company’s fifty day simple moving average is $17.06 and its 200-day simple moving average is $20.61. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a 52 week low of $8.34 and a 52 week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released 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). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $496.00 million. During the same period in the previous year, the business posted $0.11 earnings per share. First Majestic Silver’s revenue for the quarter was up 57.3% on a year-over-year basis. Equities research analysts predict that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.0152 per share. The ex-dividend date is Friday, August 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is currently 9.86%.

Wall Street Analysts Forecast Growth

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

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.