Deutsche Bank AG Cuts Position in First Majestic Silver Corp. $AG

Key Points

• Deutsche Bank AG reduced its position in First Majestic Silver Corp. by 85.4% in Q1, owning only 70,263 shares after selling over 400,000 shares during the quarter.
• First Majestic Silver's earnings per share for the latest quarter were $0.04, missing analysts' estimates of $0.06, with a revenue of $264.20 million compared to anticipated $387.25 million.
• The company's recent quarterly dividend has been cut to $0.0048 per share, reflecting a yield of just 0.2% and a payout ratio of -200.00%.

Deutsche Bank AG decreased its position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 85.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,263 shares of the mining company's stock after selling 411,510 shares during the quarter. Deutsche Bank AG's holdings in First Majestic Silver were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of First Majestic Silver by 16.0% during the 1st quarter. Signaturefd LLC now owns 24,377 shares of the mining company's stock valued at $163,000 after acquiring an additional 3,357 shares during the last quarter. Sigma Planning Corp boosted its position in shares of First Majestic Silver by 29.0% during the 1st quarter. Sigma Planning Corp now owns 15,030 shares of the mining company's stock valued at $101,000 after acquiring an additional 3,380 shares during the last quarter. Veracity Capital LLC lifted its position in First Majestic Silver by 18.4% in the first quarter. Veracity Capital LLC now owns 22,078 shares of the mining company's stock valued at $148,000 after buying an additional 3,425 shares during the last quarter. Parallel Advisors LLC lifted its position in 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 valued at $25,000 after buying an additional 3,506 shares during the last quarter. Finally, Numerai GP LLC lifted its position in First Majestic Silver by 14.6% in the fourth quarter. Numerai GP LLC now owns 27,792 shares of the mining company's stock valued at $153,000 after buying an additional 3,550 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AG shares. HC Wainwright reaffirmed a "buy" rating and issued a $12.75 target price on shares of First Majestic Silver in a research report on Friday, August 15th. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Finally, Scotiabank upped their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $9.63.

First Majestic Silver Stock Up 2.2%

Shares of AG traded up $0.20 during mid-day trading on Monday, hitting $9.16. 22,817,512 shares of the company's stock were exchanged, compared to its average volume of 15,643,350. The company has a market cap of $4.46 billion, a price-to-earnings ratio of -914.59 and a beta of 0.78. First Majestic Silver Corp. has a fifty-two week low of $4.59 and a fifty-two week high of $9.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. The stock's 50-day moving average is $8.57 and its 200-day moving average is $7.17.

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

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 29th. First Majestic Silver's dividend payout ratio is currently -200.00%.

First Majestic Silver Profile

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.