Canada Pension Plan Investment Board Takes $21.88 Million Position in First Majestic Silver Corp. $AG

Canada Pension Plan Investment Board acquired a new stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,289,900 shares of the mining company's stock, valued at approximately $21,879,000. Canada Pension Plan Investment Board owned approximately 0.26% of First Majestic Silver at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EFG International AG purchased a new position in shares of First Majestic Silver during the 4th quarter valued at $25,000. Harbor Investment Advisory LLC purchased a new stake in shares of First Majestic Silver in the first quarter worth $32,000. PNC Financial Services Group Inc. raised its position in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock worth $32,000 after buying an additional 978 shares in the last quarter. Parallel Advisors LLC boosted its stake in First Majestic Silver by 36.4% during the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock valued at $45,000 after buying an additional 560 shares during the period. Finally, Sittner & Nelson LLC purchased a new position in First Majestic Silver during the fourth quarter worth about $50,000. Institutional investors own 27.16% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. HC Wainwright upped their target price on First Majestic Silver from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Scotiabank dropped their price target on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Weiss Ratings downgraded First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, June 5th. Wall Street Zen cut shares of First Majestic Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, ATB Cormark Capital Markets raised shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, First Majestic Silver presently has an average rating of "Moderate Buy" and a consensus price target of $23.83.

First Majestic Silver Stock Down 4.3%

Shares of NYSE:AG opened at $20.81 on Friday. First Majestic Silver Corp. has a 52-week low of $8.90 and a 52-week high of $32.03. The firm has a fifty day moving average of $17.68 and a 200 day moving average of $20.35. The firm has a market capitalization of $10.26 billion, a PE ratio of 29.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The firm had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. During the same period in the prior year, the company earned $0.11 EPS. The firm's revenue was up 57.3% compared to the same quarter last year. As a group, research analysts anticipate that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a dividend of $0.0152 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver's dividend payout ratio (DPR) is currently 8.45%.

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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