BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 102,726 Shares of First Majestic Silver Corp. $AG

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in First Majestic Silver Corp. by 76.2%, acquiring an additional 102,726 shares in the first quarter, bringing its total holdings to 237,530 shares worth approximately $1.58 million.
• Equities research analysts have a consensus rating of Hold for First Majestic Silver, with price targets varying from $6.00 to $12.75.
• The company will pay a quarterly dividend of $0.0048 per share on September 15, representing a yield of 0.2% and a dividend payout ratio of -100.00%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 76.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,530 shares of the mining company's stock after purchasing an additional 102,726 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in First Majestic Silver were worth $1,588,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AG. Parallel Advisors LLC increased its stake in shares of First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after acquiring an additional 3,506 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of First Majestic Silver in the first quarter worth $29,000. Banque Cantonale Vaudoise acquired a new position in shares of First Majestic Silver in the first quarter worth $46,000. Captrust Financial Advisors acquired a new position in shares of First Majestic Silver in the fourth quarter worth $58,000. Finally, Focus Financial Network Inc. acquired a new position in shares of First Majestic Silver in the first quarter worth $67,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Stock Performance

Shares of NYSE:AG traded up $0.20 during midday trading on Friday, hitting $9.16. The company's stock had a trading volume of 22,817,512 shares, compared to its average volume of 15,336,626. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of -914.59 and a beta of 0.72. The stock's 50 day simple moving average is $8.57 and its 200 day simple moving average is $7.16. First Majestic Silver Corp. has a fifty-two week low of $4.59 and a fifty-two week high of $9.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $264.20 million during the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The company's revenue for the quarter was up 94.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) earnings per share. As a group, research analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.0048 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, August 29th. First Majestic Silver's dividend payout ratio (DPR) is presently -200.00%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AG shares. Scotiabank upped their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Finally, HC Wainwright reissued a "buy" rating and set a $12.75 target price on shares of First Majestic Silver in a research report on Friday, August 15th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, First Majestic Silver presently 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.