Artemis Investment Management LLP Purchases Shares of 2,754,973 First Majestic Silver Corp. $AG

Key Points

• Artemis Investment Management purchased a new stake of 2,754,973 shares (~$45.9M) in First Majestic Silver, representing about 0.56% of the company.
• Large institutions hold significant positions — Vanguard now owns 18,995,222 shares (~$316.9M) and hedge funds/institutional investors collectively own about 27.16% of the stock.
• Analysts have a consensus rating of "Moderate Buy" with a $25 target; the company reported Q4 EPS of $0.30 (beat) but revenue of $463.9M (missed estimates).

Artemis Investment Management LLP purchased a new stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,754,973 shares of the mining company's stock, valued at approximately $45,898,000. Artemis Investment Management LLP owned approximately 0.56% of First Majestic Silver at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AG. Bogart Wealth LLC raised its position in shares of First Majestic Silver by 52.2% in the fourth quarter. Bogart Wealth LLC now owns 3,500 shares of the mining company's stock valued at $58,000 after buying an additional 1,200 shares during the last quarter. New Harbor Financial Group LLC purchased a new stake in First Majestic Silver in the 4th quarter worth approximately $191,000. Pictet Asset Management Holding SA grew its stake in First Majestic Silver by 5.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 80,071 shares of the mining company's stock worth $1,338,000 after acquiring an additional 4,109 shares during the period. Vanguard Group Inc. grew 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 worth $316,914,000 after acquiring an additional 945,067 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in First Majestic Silver by 2.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 191,102 shares of the mining company's stock worth $3,184,000 after acquiring an additional 5,425 shares during the period. Hedge funds and other institutional investors own 27.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AG shares. Scotiabank raised shares of First Majestic Silver to a "hold" rating in a research note on Thursday, April 23rd. Zacks Research cut shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. BMO Capital Markets raised shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a research note on Tuesday, March 24th. Finally, HC Wainwright upped their price target on shares of First Majestic Silver to $30.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $25.00.

First Majestic Silver Stock Up 0.7%

AG stock opened at $19.85 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.60 and a debt-to-equity ratio of 0.09. First Majestic Silver Corp. has a fifty-two week low of $5.49 and a fifty-two week high of $32.03. The firm's 50-day simple moving average is $22.91 and its 200 day simple moving average is $19.04. The stock has a market cap of $9.78 billion, a PE ratio of 56.70 and a beta of 0.85.

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, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $463.92 million for 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 quarterly revenue was up 169.2% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. As a group, sell-side analysts predict that First Majestic Silver Corp. will post 0.72 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a dividend of $0.0083 per share. This represents a $0.03 annualized dividend 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 dividend payout ratio is 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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