Lincoln Capital Corp Cuts Stake in First Majestic Silver Corp. $AG

Lincoln Capital Corp cut its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 35.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,150 shares of the mining company’s stock after selling 25,000 shares during the quarter. Lincoln Capital Corp’s holdings in First Majestic Silver were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. EFG International AG purchased a new stake in First Majestic Silver during the 4th quarter worth approximately $25,000. Harbor Investment Advisory LLC purchased a new position in shares of First Majestic Silver in the first quarter valued at approximately $32,000. PNC Financial Services Group Inc. lifted its position in shares of First Majestic Silver by 184.5% in the first 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 in the last quarter. Parallel Advisors LLC boosted its stake 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 acquiring an additional 560 shares during the last quarter. Finally, Sittner & Nelson LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter worth approximately $50,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on AG. Scotiabank reduced their price objective on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Weiss Ratings lowered 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 boosted their price target on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver has a consensus rating of “Moderate Buy” and an average target price of $23.83.

First Majestic Silver Price Performance

Shares of AG stock 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. The company has a market capitalization of $10.26 billion, a PE ratio of 29.31 and a beta of 0.94. The firm’s 50-day moving average is $17.68 and its two-hundred day moving average is $20.35. First Majestic Silver Corp. has a 12 month low of $8.90 and a 12 month high of $32.03.

First Majestic Silver (NYSE:AG) (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 the consensus estimate of $0.25 by ($0.04). The firm had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. Analysts predict that First Majestic Silver Corp. will post 0.81 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The firm 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%.

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.