461,305 Shares in First Majestic Silver Corp. $AG Acquired by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec acquired a new position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 461,305 shares of the mining company's stock, valued at approximately $7,830,000. Caisse de depot et placement du Quebec owned 0.09% of First Majestic Silver at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EFG International AG acquired a new position in First Majestic Silver in the fourth quarter valued at about $25,000. Harbor Investment Advisory LLC bought a new position in First Majestic Silver in the 1st quarter valued at about $32,000. PNC Financial Services Group Inc. increased its holdings in First Majestic Silver by 184.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock valued at $32,000 after buying an additional 978 shares during the period. Parallel Advisors LLC raised its position in shares of First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock valued at $45,000 after buying an additional 560 shares in the last quarter. Finally, Sittner & Nelson LLC acquired a new position in First Majestic Silver in the 4th quarter valued at approximately $50,000. Institutional investors own 27.16% of the company's stock.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $20.81 on Friday. First Majestic Silver Corp. has a 52 week low of $8.90 and a 52 week high of $32.03. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $17.68 and a 200-day moving average price of $20.35. The company has a market cap of $10.26 billion, a PE ratio of 29.31 and a beta of 0.94.

First Majestic Silver (NYSE:AG - Get Free Report) 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). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company had revenue of $415.50 million for the quarter, compared to analysts' expectations of $496.00 million. During the same period in the previous year, the firm earned $0.11 EPS. The firm's quarterly revenue was up 57.3% on a year-over-year basis. Equities analysts anticipate that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.0152 per share. The ex-dividend date is Friday, August 14th. This represents a $0.06 annualized dividend and a yield of 0.3%. First Majestic Silver's dividend payout ratio (DPR) is 8.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AG shares. Wall Street Zen downgraded First Majestic Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings cut shares of First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, June 5th. ATB Cormark Capital Markets upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, July 10th. HC Wainwright boosted their price objective on First Majestic Silver from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Scotiabank decreased their target price on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.83.

First Majestic Silver Profile

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.

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