First Majestic Silver Corp. $AG Shares Sold by Amundi

Key Points

• Amundi cut its First Majestic Silver stake by 19.2% in the first quarter, selling 188,261 shares and retaining 791,798 shares valued at approximately $17 million. Institutional investors collectively own 27.16% of the company.
• First Majestic reported quarterly revenue of $415.5 million, up 57.3% year over year, but missed analyst expectations for both revenue and earnings, posting EPS of $0.21 versus the $0.25 consensus estimate.
• The company declared a quarterly dividend of $0.0152 per share, equivalent to a 0.4% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $23.83, despite mixed recent rating changes.

Amundi trimmed its holdings in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 19.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 791,798 shares of the mining company's stock after selling 188,261 shares during the period. Amundi owned approximately 0.16% of First Majestic Silver worth $17,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AG. Arrowstreet Capital Limited Partnership increased its stake in shares of First Majestic Silver by 408.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company's stock valued at $250,821,000 after acquiring an additional 12,081,688 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of First Majestic Silver in the first quarter valued at $62,760,000. Artemis Investment Management LLP bought a new position in First Majestic Silver during the fourth quarter valued at about $45,898,000. Tidal Investments LLC boosted its stake in First Majestic Silver by 14.0% during the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company's stock valued at $258,273,000 after buying an additional 2,581,023 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in First Majestic Silver by 33.6% during the fourth quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company's stock worth $160,298,000 after acquiring an additional 2,418,513 shares during the period. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Trading Up 5.4%

NYSE:AG opened at $16.54 on Wednesday. The company has a market capitalization of $8.15 billion, a P/E ratio of 23.30 and a beta of 0.94. The stock's 50 day moving average price is $17.30 and its 200 day moving average price is $20.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. First Majestic Silver Corp. has a 52 week low of $8.03 and a 52 week high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. During the same quarter last year, the firm earned $0.11 earnings per share. First Majestic Silver's revenue was up 57.3% compared to the same quarter last year. On average, research analysts forecast that First Majestic Silver Corp. will post 0.83 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.0152 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, August 14th. First Majestic Silver's dividend payout ratio is 9.86%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, June 5th. Wall Street Zen cut shares of First Majestic Silver from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Scotiabank lowered their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, July 10th. Finally, HC Wainwright upped their price target on First Majestic Silver from $26.00 to $27.00 and gave the company a "buy" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, First Majestic Silver has a consensus rating of "Moderate Buy" and an average target price of $23.83.

First Majestic Silver Company Profile

First Majestic Silver Corp. NYSE: AG engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.

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