289,243 Shares in First Majestic Silver Corp. (NYSE:AG) Purchased by Alps Advisors Inc.

Alps Advisors Inc. purchased a new stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 289,243 shares of the mining company's stock, valued at approximately $1,935,000. Alps Advisors Inc. owned approximately 0.06% of First Majestic Silver as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in shares of First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,506 shares in the last quarter. Bank of Nova Scotia purchased a new stake in First Majestic Silver in the 4th quarter valued at $57,000. Captrust Financial Advisors bought a new position in First Majestic Silver during the 4th quarter valued at $58,000. Focus Financial Network Inc. purchased a new position in First Majestic Silver during the 1st quarter worth $67,000. Finally, Littlejohn Financial Services Inc. bought a new stake in shares of First Majestic Silver in the 1st quarter worth $68,000. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Stock Up 7.3%

First Majestic Silver stock opened at $9.27 on Friday. The firm has a 50 day moving average price of $7.31 and a 200-day moving average price of $6.44. First Majestic Silver Corp. has a twelve month low of $4.43 and a twelve month high of $9.33. The company has a market capitalization of $4.49 billion, a P/E ratio of -31.96 and a beta of 0.82. The company has a quick ratio of 2.74, a current ratio of 3.19 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business's quarterly revenue was up 41.6% compared to the same quarter last year. As a group, equities analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.0045 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 0.32%. First Majestic Silver's payout ratio is -6.90%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank raised their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research report on Wednesday. National Bankshares restated a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. HC Wainwright increased their price target on First Majestic Silver from $11.50 to $12.75 and gave the company a "buy" rating in a research report on Thursday. Finally, National Bank Financial upgraded First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, First Majestic Silver currently has an average rating of "Hold" and an average price target of $9.63.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.

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