First Majestic Silver Corp. $AG Shares Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in First Majestic Silver Corp. by 38.9%, acquiring an additional 592,025 shares and now holding a total of 2,112,384 shares valued at approximately $14.1 million.
• First Majestic Silver has recently declared a quarterly dividend of $0.0048 per share, resulting in an annualized yield of 0.2%, while also reporting a net loss in earnings for the last quarter.
• The company's stock is currently rated with an average "Hold" status and has a consensus price target of $9.63, following several analysts' updates on its ratings and target prices.

Cubist Systematic Strategies LLC lifted its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 38.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,112,384 shares of the mining company's stock after buying an additional 592,025 shares during the period. Cubist Systematic Strategies LLC owned about 0.44% of First Majestic Silver worth $14,132,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Alps Advisors Inc. bought a new stake in shares of First Majestic Silver in the 1st quarter worth about $1,935,000. Oppenheimer & Co. Inc. bought a new stake in shares of First Majestic Silver in the 1st quarter worth about $79,000. Municipal Employees Retirement System of Michigan bought a new position in First Majestic Silver during the 1st quarter valued at about $47,656,000. PCJ Investment Counsel Ltd. bought a new position in First Majestic Silver during the 1st quarter valued at about $2,009,000. Finally, Trexquant Investment LP grew its holdings in First Majestic Silver by 17.6% during the 1st quarter. Trexquant Investment LP now owns 1,207,445 shares of the mining company's stock valued at $8,078,000 after purchasing an additional 180,716 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Stock Performance

Shares of NYSE AG traded up $0.09 during midday trading on Friday, reaching $9.16. The company had a trading volume of 20,344,709 shares, compared to its average volume of 20,803,240. First Majestic Silver Corp. has a 1 year low of $4.59 and a 1 year high of $9.83. The company has a current ratio of 3.27, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $4.46 billion, a P/E ratio of -914.59 and a beta of 0.78. The business's 50-day simple moving average is $8.67 and its 200 day simple moving average is $7.25.

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

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.0048 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. First Majestic Silver's payout ratio is presently -200.00%.

Analysts Set New Price Targets

Several brokerages recently commented on AG. HC Wainwright reiterated a "buy" rating and set a $12.75 price target on shares of First Majestic Silver in a report on Friday, August 15th. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, Scotiabank upped their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $9.63.

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.