Concurrent Investment Advisors LLC Takes Position in First Majestic Silver Corp. $AG

Key Points

• Concurrent Investment Advisors acquired 69,602 First Majestic Silver shares worth approximately $1.18 million in the second quarter. Institutional investors and hedge funds collectively own 27.16% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $23.83, although individual firms issued both upgrades and downgrades.
• First Majestic reported second-quarter revenue of $415.5 million and EPS of $0.21, missing analyst expectations, while revenue still rose 57.3% year over year. The company paid a quarterly dividend of $0.0152 per share, equivalent to a 0.3% annualized yield.

Concurrent Investment Advisors LLC bought a new position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 69,602 shares of the mining company's stock, valued at approximately $1,180,000.

Other hedge funds also recently modified their holdings of the company. Nykredit A S bought a new stake in First Majestic Silver during the 2nd quarter worth approximately $97,000. Acorn Wealth Advisors LLC acquired a new stake in shares of First Majestic Silver during the second quarter worth $253,000. M Holdings Securities Inc. raised its holdings in shares of First Majestic Silver by 3.1% during the second quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company's stock worth $285,000 after acquiring an additional 515 shares during the period. Quantitative Investment Management LLC lifted its position in First Majestic Silver by 78.5% in the 2nd quarter. Quantitative Investment Management LLC now owns 34,033 shares of the mining company's stock valued at $577,000 after acquiring an additional 14,963 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in First Majestic Silver in the 2nd quarter valued at $1,671,000. Institutional investors and hedge funds own 27.16% of the company's stock.

Analyst Upgrades and Downgrades

AG has been the subject of a number of research analyst reports. HC Wainwright upped their target price on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Wall Street Zen downgraded First Majestic Silver from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings restated a "hold (c)" rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. ATB Cormark Capital Markets raised First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 10th. Finally, Scotiabank decreased their price objective on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.83.

First Majestic Silver Trading Down 5.0%

Shares of NYSE:AG opened at $20.12 on Friday. The company's 50-day moving average price is $18.37 and its two-hundred day moving average price is $20.15. First Majestic Silver Corp. has a one year low of $9.30 and a one year high of $32.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. The stock has a market capitalization of $9.92 billion, a PE ratio of 28.35 and a beta of 1.00.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. First Majestic Silver's revenue was up 57.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. On average, equities analysts forecast that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 14th. First Majestic Silver's dividend payout ratio (DPR) is currently 8.45%.

About First Majestic Silver

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.

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