First Majestic Silver Corp. (NYSE:AG) is Bayforest Capital Ltd's 5th Largest Position

Key Points

• Bayforest Capital Ltd significantly increased its stake in First Majestic Silver Corp. by 1,978.6%, owning 213,843 shares valued at $1.43 million after acquiring an additional 203,555 shares in the first quarter.
• The company reported a net loss per share of $0.05 for the last quarter, which was below the analyst expectation of $0.06, despite a 41.6% increase in revenue year-over-year.
• First Majestic Silver recently declared a dividend of $0.0045 per share, yielding 0.32%, with an ex-dividend date on May 16th.

Bayforest Capital Ltd raised its position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 1,978.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,843 shares of the mining company's stock after purchasing an additional 203,555 shares during the period. First Majestic Silver makes up approximately 0.7% of Bayforest Capital Ltd's investment portfolio, making the stock its 5th biggest position. Bayforest Capital Ltd's holdings in First Majestic Silver were worth $1,431,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of First Majestic Silver by 1,221.6% during the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after buying an additional 3,506 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in First Majestic Silver during the first quarter valued at $46,000. Bank of Nova Scotia bought a new position in shares of First Majestic Silver during the 4th quarter worth about $57,000. Captrust Financial Advisors bought a new position in shares of First Majestic Silver during the 4th quarter worth about $58,000. Finally, Focus Financial Network Inc. bought a new position in shares of First Majestic Silver during the 1st quarter worth about $67,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Stock Down 1.4%

NYSE AG traded down $0.11 during trading hours on Friday, hitting $7.84. The company's stock had a trading volume of 16,712,923 shares, compared to its average volume of 17,700,002. First Majestic Silver Corp. has a 52 week low of $4.43 and a 52 week high of $9.48. The company has a market capitalization of $3.82 billion, a PE ratio of -27.03 and a beta of 0.72. The company has a current ratio of 3.19, a quick ratio of 2.74 and a debt-to-equity ratio of 0.08. The company's 50-day simple moving average is $8.07 and its two-hundred day simple moving average is $6.71.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The business had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. During the same period in the previous year, the business posted ($0.05) EPS. First Majestic Silver's revenue was up 41.6% compared to the same quarter last year. Research analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.0045 dividend. The ex-dividend date was Friday, May 16th. This represents a yield of 32.0%. First Majestic Silver's dividend payout ratio (DPR) is -6.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AG. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Scotiabank increased their price objective on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. Finally, HC Wainwright increased their price objective on shares of First Majestic Silver from $11.50 to $12.75 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $9.63.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.