Sprott Inc. Raises Holdings in First Majestic Silver Corp. $AG

Key Points

• Sprott Inc. significantly increased its stake in First Majestic Silver Corp. by 603.8%, owning over 4.6 million shares, which now represents approximately 1.7% of its total portfolio.
• First Majestic Silver reported $0.04 earnings per share for the last quarter, missing estimates, but saw a 94.0% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.0048 per share, with a current dividend yield of only 0.2% amid a notably negative dividend payout ratio.

Sprott Inc. lifted its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 603.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,612,904 shares of the mining company's stock after purchasing an additional 3,957,459 shares during the period. First Majestic Silver comprises about 1.7% of Sprott Inc.'s holdings, making the stock its 17th largest holding. Sprott Inc. owned about 0.95% of First Majestic Silver worth $30,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in First Majestic Silver by 1,221.6% during the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after buying an additional 3,506 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in First Majestic Silver during the 1st quarter worth about $46,000. Focus Financial Network Inc. purchased a new stake in First Majestic Silver during the 1st quarter worth about $67,000. Littlejohn Financial Services Inc. purchased a new stake in shares of First Majestic Silver in the 1st quarter valued at about $68,000. Finally, Captrust Financial Advisors purchased a new stake in shares of First Majestic Silver in the 4th quarter valued at about $58,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Price Performance

Shares of NYSE AG traded down $0.02 during trading on Wednesday, reaching $8.99. The company had a trading volume of 6,065,228 shares, compared to its average volume of 20,666,217. First Majestic Silver Corp. has a twelve month low of $4.59 and a twelve month high of $9.48. The stock has a market capitalization of $4.38 billion, a PE ratio of -897.60 and a beta of 0.72. The stock has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $7.09. 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 posted its quarterly earnings data 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). 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 analyst estimates of $387.25 million. During the same quarter last year, the business earned ($0.07) EPS. First Majestic Silver's revenue for the quarter was up 94.0% compared to the same quarter last year. As a group, sell-side analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.0048 per share. The ex-dividend date is Friday, August 29th. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. First Majestic Silver's dividend payout ratio (DPR) is -100.00%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. National Bank Financial raised First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. HC Wainwright restated a "buy" rating and issued a $12.75 price target on shares of First Majestic Silver in a research report on Friday, August 15th. Finally, Scotiabank boosted their price target on 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $9.63.

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.