Sigma Planning Corp Sells 36,047 Shares of First Majestic Silver Corp. $AG

Sigma Planning Corp lessened its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 72.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,802 shares of the mining company’s stock after selling 36,047 shares during the quarter. Sigma Planning Corp’s holdings in First Majestic Silver were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new position in shares of First Majestic Silver during the first quarter valued at about $32,000. EFG International AG purchased a new stake in First Majestic Silver during the 4th quarter valued at about $25,000. PNC Financial Services Group Inc. grew its position in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after acquiring an additional 978 shares during the last quarter. Parallel Advisors LLC grew its position in First Majestic Silver by 36.4% during the 1st 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 purchased a new position in First Majestic Silver in the 4th quarter worth approximately $50,000. 27.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on AG. Weiss Ratings lowered First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. HC Wainwright lifted their target price on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Scotiabank dropped their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.83.

First Majestic Silver Trading Up 6.8%

Shares of AG opened at $21.20 on Thursday. First Majestic Silver Corp. has a 1-year low of $9.04 and a 1-year high of $32.03. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $17.90 and its 200-day moving average price is $20.27. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 29.86 and a beta of 0.99.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company 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 business’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. Sell-side analysts anticipate that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

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

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.