Arrowstreet Capital Limited Partnership Raises Stock Holdings in First Majestic Silver Corp. $AG

Key Points

• Arrowstreet Capital significantly increased its stake in First Majestic Silver, boosting holdings by 408.1% in the fourth quarter to 15.0 million shares worth about $250.8 million. The fund now owns roughly 3.05% of the company.
• Other institutional investors also added to positions, and hedge funds and institutions now hold 27.16% of First Majestic Silver’s stock. Notable buyers included Sprott and Vanguard, while Tudor Investment Corp increased its stake sharply.
• First Majestic Silver recently posted quarterly results that missed EPS and revenue estimates, even though revenue jumped 95.3% year over year. The company also raised its quarterly dividend to $0.0171 per share, while analysts currently rate the stock a Moderate Buy with a $25.25 price target.

Arrowstreet Capital Limited Partnership boosted its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 408.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,041,912 shares of the mining company's stock after purchasing an additional 12,081,688 shares during the period. Arrowstreet Capital Limited Partnership owned about 3.05% of First Majestic Silver worth $250,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sprott Inc. raised its stake in First Majestic Silver by 51.8% during the third quarter. Sprott Inc. now owns 2,036,679 shares of the mining company's stock valued at $24,974,000 after buying an additional 695,391 shares in the last quarter. Vanguard Group Inc. raised its stake in First Majestic Silver by 4.3% during the third quarter. Vanguard Group Inc. now owns 18,050,155 shares of the mining company's stock valued at $221,657,000 after buying an additional 739,315 shares in the last quarter. Caprock Group LLC acquired a new stake in First Majestic Silver during the third quarter valued at approximately $1,045,000. Hohimer Wealth Management LLC acquired a new stake in First Majestic Silver during the third quarter valued at approximately $3,131,000. Finally, Tudor Investment Corp ET AL raised its stake in First Majestic Silver by 891.5% during the third quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company's stock valued at $3,008,000 after buying an additional 220,056 shares in the last quarter. Hedge funds and other institutional investors own 27.16% of the company's stock.

First Majestic Silver Stock Performance

Shares of NYSE AG opened at $17.63 on Monday. The stock has a fifty day moving average price of $20.32 and a two-hundred day moving average price of $20.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. The firm has a market cap of $8.69 billion, a P/E ratio of 29.39 and a beta of 0.86. First Majestic Silver Corp. has a 1 year low of $7.74 and a 1 year high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The firm had revenue of $476.67 million for the quarter, compared to the consensus estimate of $522.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The business's revenue for the quarter was up 95.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 earnings per share. Research analysts forecast that First Majestic Silver Corp. will post 0.74 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.0171 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 20th. This is an increase from First Majestic Silver's previous quarterly dividend of $0.01. First Majestic Silver's dividend payout ratio is 11.67%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AG shares. Zacks Research cut First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Weiss Ratings cut First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, June 5th. HC Wainwright increased their price target on First Majestic Silver to $30.75 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Wall Street Zen cut First Majestic Silver from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Scotiabank upgraded First Majestic Silver to a "hold" rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, First Majestic Silver has a consensus rating of "Moderate Buy" and a consensus price target of $25.25.

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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