U S Global Investors Inc. Acquires New Position in First Majestic Silver Corp. $AG

U S Global Investors Inc. acquired a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 50,000 shares of the mining company’s stock, valued at approximately $1,074,000.

A number of other institutional investors also recently bought and sold shares of the stock. Lodestone Wealth Management LLC acquired a new position in First Majestic Silver during the 4th quarter valued at approximately $25,000. Harbor Investment Advisory LLC acquired a new stake in shares of First Majestic Silver during the first quarter worth $32,000. EFG International AG acquired a new stake in shares of First Majestic Silver during the fourth quarter worth $25,000. Spire Wealth Management purchased a new stake in shares of First Majestic Silver during the fourth quarter valued at $35,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of First Majestic Silver during the fourth quarter valued at $42,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AG shares. Scotiabank raised First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday. Finally, Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock traded down $0.17 during trading on Friday, hitting $16.99. 8,442,059 shares of the company’s stock were exchanged, compared to its average volume of 10,635,216. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. The business has a 50-day simple moving average of $18.92 and a 200-day simple moving average of $20.90. First Majestic Silver Corp. has a 52-week low of $7.74 and a 52-week high of $32.03. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 28.32 and a beta of 0.91.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $476.67 million for 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 company’s revenue for the quarter was up 95.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, research analysts forecast that First Majestic Silver Corp. will post 0.74 EPS for the current year.

First Majestic Silver Increases Dividend

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