Acorn Financial Advisory Services Inc. ADV Acquires Shares of 915,694 First Majestic Silver Corp. $AG

Key Points

• Acorn Financial Advisory Services Inc. ADV bought 915,694 shares of First Majestic Silver (NYSE:AG) in Q4, spending about $15.26 million and making the holding roughly 2.3% of Acorn's portfolio (≈0.19% ownership of the company).
• First Majestic posted Q results with EPS of $0.30 (above the $0.27 estimate) while revenue was $463.9M—below expectations but up ~169% year-over-year.
• Analysts have an average rating of Moderate Buy with a $25.00 consensus target; the stock trades near $19.39, with a 52-week range of $5.49–$32.03 and a market cap of about $9.56 billion.

Acorn Financial Advisory Services Inc. ADV bought a new position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 915,694 shares of the mining company's stock, valued at approximately $15,255,000. First Majestic Silver accounts for approximately 2.3% of Acorn Financial Advisory Services Inc. ADV's portfolio, making the stock its 15th biggest holding. Acorn Financial Advisory Services Inc. ADV owned approximately 0.19% of First Majestic Silver at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lodestone Wealth Management LLC bought a new position in shares of First Majestic Silver during the 4th quarter worth $25,000. Bogart Wealth LLC bought a new stake in shares of First Majestic Silver in the third quarter valued at about $28,000. Spire Wealth Management purchased a new stake in First Majestic Silver in the fourth quarter worth about $35,000. Aventura Private Wealth LLC purchased a new stake in First Majestic Silver in the fourth quarter worth about $42,000. Finally, Trust Co. of Vermont bought a new position in First Majestic Silver during the 4th quarter worth about $43,000. 27.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AG has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c-)" rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. BMO Capital Markets raised First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. Wall Street Zen downgraded shares of First Majestic Silver from a "strong-buy" rating to a "buy" rating in a report on Monday. Zacks Research lowered shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Finally, HC Wainwright boosted their price objective on shares of First Majestic Silver to $30.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.00.

First Majestic Silver Stock Performance

AG opened at $19.39 on Tuesday. First Majestic Silver Corp. has a 52-week low of $5.49 and a 52-week high of $32.03. The company has a quick ratio of 2.41, a current ratio of 2.60 and a debt-to-equity ratio of 0.09. The company has a market cap of $9.56 billion, a P/E ratio of 55.39 and a beta of 0.85. The firm's 50-day moving average price is $22.91 and its 200-day moving average price is $19.11.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. The company had revenue of $463.92 million during the quarter, compared to analysts' expectations of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. First Majestic Silver's revenue for the quarter was up 169.2% on a year-over-year basis. During the same period last year, the business earned $0.03 EPS. As a group, equities analysts anticipate that First Majestic Silver Corp. will post 0.72 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.0083 dividend. This represents a $0.03 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.01. First Majestic Silver's payout ratio is currently 8.57%.

First Majestic Silver Company 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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