Alberta Investment Management Corp Purchases New Shares in First Majestic Silver Corp. $AG

Key Points

• Alberta Investment Management Corp. acquired 124,265 First Majestic Silver shares worth approximately $2.1 million, while institutional investors collectively own 27.16% of the company.
• First Majestic’s shares recently traded at $19.61, up 1.8%, with a market capitalization of $9.67 billion. Analysts maintain a “Moderate Buy” consensus and an average price target of $23.83.
• The company’s latest quarterly results missed expectations, reporting $0.21 in EPS versus $0.25 expected and $415.5 million in revenue versus $496 million forecast, despite 57.3% year-over-year revenue growth; its quarterly dividend was set at $0.0152 per share.

Alberta Investment Management Corp acquired a new stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 124,265 shares of the mining company's stock, valued at approximately $2,108,000.

A number of other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of First Majestic Silver by 14.0% in the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company's stock valued at $258,273,000 after purchasing an additional 2,581,023 shares during the last quarter. Vanguard Group Inc. increased its stake in First Majestic Silver by 5.2% in the 4th quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company's stock valued at $316,914,000 after buying an additional 945,067 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of First Majestic Silver by 408.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company's stock worth $250,821,000 after buying an additional 12,081,688 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of First Majestic Silver by 33.6% during the 4th quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company's stock worth $160,298,000 after buying an additional 2,418,513 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of 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 worth $130,659,000 after buying an additional 2,919,008 shares during the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Stock Up 1.8%

Shares of NYSE AG opened at $19.61 on Tuesday. First Majestic Silver Corp. has a one year low of $8.34 and a one year high of $32.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. The business's fifty day moving average price is $17.12 and its 200-day moving average price is $20.44. The stock has a market capitalization of $9.67 billion, a PE ratio of 27.62 and a beta of 0.94.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly 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). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The firm had revenue of $415.50 million for the quarter, compared to the consensus estimate of $496.00 million. During the same quarter in the previous year, the company posted $0.11 EPS. The firm's revenue was up 57.3% compared to the same quarter last year. On average, equities research analysts anticipate that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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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