Headlands Technologies LLC Sells 125,312 Shares of First Majestic Silver Corp. $AG

Headlands Technologies LLC lowered its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 70.3% in the 2nd quarter, Holdings Channel reports. The firm owned 53,060 shares of the mining company’s stock after selling 125,312 shares during the period. Headlands Technologies LLC’s holdings in First Majestic Silver were worth $900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AG. Quantitative Investment Management LLC boosted its position in shares of First Majestic Silver by 78.5% during the second quarter. Quantitative Investment Management LLC now owns 34,033 shares of the mining company’s stock valued at $577,000 after buying an additional 14,963 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in First Majestic Silver in the 2nd quarter worth about $1,671,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in First Majestic Silver by 475,354.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 323,309 shares of the mining company’s stock worth $5,483,000 after buying an additional 323,241 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in First Majestic Silver in the 2nd quarter worth about $2,468,000. Finally, Empowered Funds LLC lifted its stake in First Majestic Silver by 52.4% during the 2nd quarter. Empowered Funds LLC now owns 57,836 shares of the mining company’s stock valued at $981,000 after acquiring an additional 19,896 shares during the period. 27.16% of the stock is owned by institutional investors.

First Majestic Silver Stock Down 3.5%

First Majestic Silver stock opened at $19.86 on Wednesday. First Majestic Silver Corp. has a one year low of $9.00 and a one year high of $32.03. The stock has a fifty day moving average of $17.80 and a 200 day moving average of $20.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. The stock has a market cap of $9.79 billion, a PE ratio of 27.97 and a beta of 0.99.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) 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 return on equity of 13.36% and a net margin of 21.18%.The company’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, sell-side analysts predict that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a $0.0152 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, August 14th. First Majestic Silver’s dividend payout ratio is 8.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright raised their price target on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Scotiabank lowered their price objective on shares of 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. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

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.