First Majestic Silver Corp. $AG Shares Newly Purchased by Walser Wealth Management Company A Ltd Liability Co

Walser Wealth Management Company A Ltd Liability Co acquired a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,110 shares of the mining company’s stock, valued at approximately $710,000.

A number of other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in First Majestic Silver by 92.3% in the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after purchasing an additional 2,919,008 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of First Majestic Silver during the 2nd quarter worth approximately $59,610,000. Renaissance Technologies LLC acquired a new stake in shares of First Majestic Silver during the 1st quarter worth approximately $62,760,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of First Majestic Silver during the 2nd quarter valued at approximately $37,926,000. Finally, Hillsdale Investment Management Inc. raised its position in shares of First Majestic Silver by 2.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,683,825 shares of the mining company’s stock valued at $36,086,000 after buying an additional 44,135 shares during the period. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Stock Up 5.5%

Shares of AG opened at $16.08 on Friday. The company’s 50-day moving average price is $19.17 and its 200 day moving average price is $18.97. First Majestic Silver Corp. has a 12-month low of $10.19 and a 12-month 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 has a market cap of $7.93 billion, a P/E ratio of 22.65 and a beta of 0.97.

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 for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $415.50 million for 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 quarterly revenue was up 57.3% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.80 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a $0.0152 dividend. This is a negative change from First Majestic Silver’s previous quarterly dividend of $0.0171. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. First Majestic Silver’s payout ratio is presently 8.45%.

Analyst Ratings Changes

A number of research analysts recently commented on AG shares. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright lowered their price objective on First Majestic Silver from $27.00 to $25.50 and set a “buy” rating for the company in a research report on Friday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. Scotiabank reduced their target price 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. Finally, ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.