300,470 Shares in First Majestic Silver Corp. (NYSE:AG) Purchased by PCJ Investment Counsel Ltd.

Key Points

• PCJ Investment Counsel Ltd. recently acquired 300,470 shares of First Majestic Silver Corp. (NYSE:AG), valued at approximately $2,009,000.
• First Majestic Silver reported a net loss of $0.05 earnings per share, missing estimates, with revenue of $241.12 million compared to expected revenue of $358.65 million.
• The company declared a dividend of $0.0045 per share, with a recent payout ratio of -3.45%, and a dividend yield of 32.0%.

PCJ Investment Counsel Ltd. acquired a new position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300,470 shares of the mining company's stock, valued at approximately $2,009,000. PCJ Investment Counsel Ltd. owned approximately 0.06% of First Majestic Silver as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in First Majestic Silver by 1,221.6% during the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after purchasing an additional 3,506 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in First Majestic Silver during the 1st quarter worth about $46,000. Focus Financial Network Inc. purchased a new stake in First Majestic Silver during the 1st quarter worth about $67,000. Littlejohn Financial Services Inc. purchased a new stake in First Majestic Silver during the 1st quarter worth about $68,000. Finally, Bank of Nova Scotia purchased a new stake in First Majestic Silver during the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 27.16% of the company's stock.

First Majestic Silver Stock Performance

NYSE:AG opened at $8.74 on Friday. The business's 50-day moving average price is $8.29 and its two-hundred day moving average price is $6.80. First Majestic Silver Corp. has a twelve month low of $4.59 and a twelve month high of $9.48. The stock has a market cap of $4.26 billion, a P/E ratio of -30.12 and a beta of 0.72. 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 released its quarterly earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $241.12 million during the quarter, compared to analysts' expectations of $358.65 million. First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The business's revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) EPS. As a group, equities analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $0.0045 per share. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 32.0%. First Majestic Silver's dividend payout ratio is -3.45%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotiabank increased their price objective on First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. National Bank Financial raised First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, HC Wainwright raised their price target on First Majestic Silver from $11.50 to $12.75 and gave the company a "buy" rating in a report on Thursday, July 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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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