Cambridge Investment Research Advisors Inc. Sells 91,222 Shares of First Majestic Silver Corp. (NYSE:AG)

Cambridge Investment Research Advisors Inc. cut its stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 40.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,994 shares of the mining company's stock after selling 91,222 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in First Majestic Silver were worth $883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of First Majestic Silver by 8.3% during the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock valued at $128,000 after buying an additional 1,776 shares during the period. Rathbones Group PLC increased its position in shares of First Majestic Silver by 4.3% in the fourth quarter. Rathbones Group PLC now owns 56,852 shares of the mining company's stock worth $312,000 after purchasing an additional 2,325 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of First Majestic Silver by 19.6% in the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock worth $94,000 after purchasing an additional 2,800 shares during the last quarter. Veracity Capital LLC increased its position in shares of First Majestic Silver by 18.4% in the first quarter. Veracity Capital LLC now owns 22,078 shares of the mining company's stock worth $148,000 after purchasing an additional 3,425 shares during the last quarter. Finally, Parallel Advisors LLC increased its position 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 purchasing an additional 3,506 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AG has been the topic of several research analyst reports. TD Securities upgraded shares of First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. National Bank Financial raised First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. HC Wainwright upped their target price on First Majestic Silver from $11.00 to $11.50 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.75.

First Majestic Silver Price Performance

AG traded down $0.46 during midday trading on Tuesday, hitting $8.23. The stock had a trading volume of 2,194,741 shares, compared to its average volume of 15,440,869. The company has a market cap of $3.99 billion, a P/E ratio of -28.47 and a beta of 0.82. First Majestic Silver Corp. has a 1 year low of $4.43 and a 1 year high of $8.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19. The business has a fifty day moving average of $7.11 and a 200 day moving average of $6.36.

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

First Majestic Silver Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $0.0045 per share. This represents a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver's dividend payout ratio (DPR) is presently -3.45%.

About First Majestic Silver

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.