Caitong International Asset Management Co. Ltd Raises Holdings in First Majestic Silver Corp. $AG

Key Points

• Caitong International Asset Management sharply increased its stake in First Majestic Silver, boosting holdings by 18,702.6% in the fourth quarter to 58,476 shares worth about $974,000.
• Institutional interest in the stock remains significant, with several major funds such as Van ECK, Tidal, Vanguard, and Arrowstreet also raising positions; overall, 27.16% of the company is owned by institutional investors and hedge funds.
• Analysts currently see First Majestic Silver as a Moderate Buy with a consensus price target of $25.25, while the company recently raised its quarterly dividend to $0.0171 per share and reported Q1 earnings that missed revenue and EPS estimates.

Caitong International Asset Management Co. Ltd boosted its position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 18,702.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,476 shares of the mining company's stock after buying an additional 58,165 shares during the period. Caitong International Asset Management Co. Ltd's holdings in First Majestic Silver were worth $974,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp raised its position in First Majestic Silver by 32.0% during the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company's stock worth $531,234,000 after buying an additional 10,471,543 shares during the last quarter. Tidal Investments LLC raised its holdings in First Majestic Silver by 14.0% during the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company's stock worth $258,273,000 after purchasing an additional 2,581,023 shares in the last quarter. Vanguard Group Inc. lifted its position in First Majestic Silver by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company's stock valued at $316,914,000 after purchasing an additional 945,067 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Majestic Silver by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company's stock valued at $232,539,000 after buying an additional 5,265,612 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in First Majestic Silver by 408.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company's stock valued at $250,821,000 after acquiring an additional 12,081,688 shares during the period. 27.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

First Majestic Silver Trading Up 0.2%

NYSE AG opened at $18.03 on Friday. 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 company has a 50-day simple moving average of $20.03 and a 200-day simple moving average of $20.78. The firm has a market capitalization of $8.89 billion, a PE ratio of 30.06 and a beta of 0.86. First Majestic Silver Corp. has a one year low of $7.74 and a one year high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing the consensus estimate 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 return on equity of 11.19% and a net margin of 19.51%.The firm's revenue was up 95.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. On average, equities analysts forecast that First Majestic Silver Corp. will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

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

About First Majestic Silver

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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