Federation des caisses Desjardins du Quebec Has $2.94 Million Position in First Majestic Silver Corp. $AG

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in First Majestic Silver Corp. by 313.0% during the first quarter, owning a total of 440,644 shares valued at approximately $2.94 million.
• First Majestic Silver reported $0.04 earnings per share (EPS) for the latest quarter, missing estimates, with revenue of $264.20 million compared to projections of $387.25 million.
• The company has declared a quarterly dividend of $0.0048 per share, leading to an annualized yield of 0.2%, while the payout ratio stands at -100.00%.

Federation des caisses Desjardins du Quebec raised its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 313.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 440,644 shares of the mining company's stock after buying an additional 333,950 shares during the quarter. Federation des caisses Desjardins du Quebec owned 0.09% of First Majestic Silver worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AG. Parallel Advisors LLC raised its position in shares of First Majestic Silver by 1,221.6% during 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 period. AlphaQuest LLC acquired a new stake in shares of First Majestic Silver during the first quarter worth about $29,000. Banque Cantonale Vaudoise acquired a new stake in shares of First Majestic Silver during the first quarter worth about $46,000. Focus Financial Network Inc. acquired a new stake in shares of First Majestic Silver during the first quarter worth about $67,000. Finally, Littlejohn Financial Services Inc. acquired a new stake in shares of First Majestic Silver during the first quarter worth about $68,000. Institutional investors and hedge funds own 27.16% of the company's stock.

Analyst Upgrades and Downgrades

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

First Majestic Silver Stock Up 2.0%

Shares of NYSE:AG traded up $0.19 during trading on Wednesday, hitting $9.33. 15,165,410 shares of the company were exchanged, compared to its average volume of 20,758,775. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -930.07 and a beta of 0.78. First Majestic Silver Corp. has a fifty-two week low of $4.73 and a fifty-two week high of $9.83. The firm has a fifty day moving average price of $8.73 and a two-hundred day moving average price of $7.34. The company has a current ratio of 3.27, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its 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 return on equity of 1.72% and a net margin of 1.78%.The business had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The business's revenue was up 94.0% compared to the same quarter last year. As a group, research 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid 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 is Friday, August 29th. First Majestic Silver's payout ratio is currently -200.00%.

First Majestic Silver Company 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.