First Majestic Silver Corp. $AG Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa reduced its holdings in First Majestic Silver Corp. by 48.7%, selling 56,194 shares, leaving them with a total of 59,172 shares valued at approximately $489,000 as of the end of the second quarter.
• Analysts have varied opinions on First Majestic Silver, with ratings ranging from "buy" to "hold," and a consensus target price of $9.63.
• The company reported $0.04 EPS for the last quarter, missing estimates, and had revenue of $264.2 million, significantly below expectations of $387.25 million.

Lbp Am Sa lessened its position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 48.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,172 shares of the mining company's stock after selling 56,194 shares during the quarter. Lbp Am Sa's holdings in First Majestic Silver were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC raised 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 purchasing an additional 3,506 shares during the period. RFG Advisory LLC acquired a new stake in shares of First Majestic Silver during the 1st quarter worth about $527,000. Littlejohn Financial Services Inc. purchased a new stake in First Majestic Silver in the 1st quarter valued at about $68,000. Focus Financial Network Inc. purchased a new stake in First Majestic Silver in the 1st quarter valued at about $67,000. Finally, Tcfg Wealth Management LLC acquired a new position in First Majestic Silver in the first quarter valued at about $86,000. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AG has been the subject of a number of recent analyst reports. Scotiabank lifted 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 research report on Wednesday, July 9th. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Wall Street Zen raised First Majestic Silver from a "hold" rating to a "buy" rating in a research report on Friday. Weiss Ratings restated a "hold (c-)" rating on shares of First Majestic Silver in a research note on Saturday, September 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.75 price objective on shares of First Majestic Silver in a research note on Friday, August 15th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $9.63.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $12.11 on Friday. The stock's 50-day simple moving average is $9.67 and its 200-day simple moving average is $7.99. The firm has a market capitalization of $5.92 billion, a PE ratio of -1,209.49 and a beta of 0.76. First Majestic Silver Corp. has a fifty-two week low of $5.09 and a fifty-two week high of $13.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $264.20 million during the quarter, compared to analysts' expectations of $387.25 million. During the same period last year, the business earned ($0.07) earnings per share. The company's quarterly revenue was up 94.0% on a year-over-year basis. As a group, equities research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

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

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