First Majestic Silver Corp. $AG Shares Sold by PCJ Investment Counsel Ltd.

Key Points

• PCJ Investment Counsel cut its stake in First Majestic Silver by 27.1%, selling 135,500 shares and retaining 363,780 shares worth about $4.47 million.
• Several institutions boosted positions—most notably VanEck, which added 10,471,543 shares to hold 43.23 million shares (~$531.2M); institutional ownership stands at 27.16%.
• First Majestic reported EPS $0.30 (beat vs. $0.27 est.) but missed revenue at $463.9M despite revenue rising 169.2% YoY; the stock opened at $26.69 (market cap ~$13.16B, P/E 76.26) and the company declared a quarterly dividend of $0.0083 per share (ex-dividend Feb 27).

PCJ Investment Counsel Ltd. cut its holdings in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 27.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 363,780 shares of the mining company's stock after selling 135,500 shares during the quarter. First Majestic Silver accounts for 1.2% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 29th largest position. PCJ Investment Counsel Ltd. owned approximately 0.07% of First Majestic Silver worth $4,466,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Mackenzie Financial Corp grew its stake in First Majestic Silver by 20.7% during the 3rd quarter. Mackenzie Financial Corp now owns 1,714,691 shares of the mining company's stock worth $21,052,000 after purchasing an additional 294,369 shares in the last quarter. Van ECK Associates Corp raised its holdings in First Majestic Silver by 32.0% in the third quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company's stock valued at $531,234,000 after acquiring an additional 10,471,543 shares in the last quarter. Legal & General Group Plc lifted its stake in First Majestic Silver by 15.7% in the third quarter. Legal & General Group Plc now owns 890,408 shares of the mining company's stock worth $10,937,000 after acquiring an additional 120,986 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in First Majestic Silver by 1,024.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 9,368 shares of the mining company's stock worth $115,000 after acquiring an additional 8,535 shares in the last quarter. Finally, Swiss National Bank grew its holdings in First Majestic Silver by 1.6% during the 3rd quarter. Swiss National Bank now owns 852,780 shares of the mining company's stock worth $10,477,000 after acquiring an additional 13,500 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $26.69 on Wednesday. The firm's fifty day simple moving average is $23.36 and its 200-day simple moving average is $16.53. First Majestic Silver Corp. has a 12 month low of $5.18 and a 12 month high of $32.03. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 76.26 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. First Majestic Silver's revenue for the quarter was up 169.2% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. As a group, equities analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.0083 per share. This is an increase from First Majestic Silver's previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, February 27th. First Majestic Silver's dividend payout ratio is 8.57%.

Wall Street Analysts Forecast Growth

AG has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating on shares of First Majestic Silver in a research report on Friday, January 16th. Wall Street Zen raised First Majestic Silver from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Zacks Research upgraded First Majestic Silver from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 19th. Weiss Ratings restated a "hold (c-)" rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Finally, Scotiabank upped their price target on First Majestic Silver from $12.50 to $23.00 and gave the company a "sector perform" rating in a report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, First Majestic Silver currently has an average rating of "Moderate Buy" and an average target price of $25.00.

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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