First Majestic Silver Corp. $AG Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 6.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,668,213 shares of the mining company's stock after selling 2,344,839 shares during the period. Van ECK Associates Corp owned about 7.24% of First Majestic Silver worth $604,992,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tidal Investments LLC raised its holdings in First Majestic Silver by 14.0% in the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company's stock valued at $258,273,000 after acquiring an additional 2,581,023 shares in the last quarter. Vanguard Group Inc. grew its holdings in First Majestic Silver by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company's stock worth $316,914,000 after acquiring an additional 945,067 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of First Majestic Silver by 408.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company's stock worth $250,821,000 after purchasing an additional 12,081,688 shares during the last quarter. Alps Advisors Inc. increased its stake 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 valued at $160,298,000 after purchasing an additional 2,418,513 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of First Majestic Silver by 92.3% during the first quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company's stock worth $130,659,000 after purchasing an additional 2,919,008 shares during the period. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AG has been the topic of several recent research reports. Weiss Ratings downgraded First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 5th. ATB Cormark Capital Markets upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 10th. Wall Street Zen lowered First Majestic Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. HC Wainwright raised their target price on First Majestic Silver from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Scotiabank reduced their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.83.

First Majestic Silver Stock Performance

Shares of NYSE AG opened at $20.81 on Friday. First Majestic Silver Corp. has a 12-month low of $8.90 and a 12-month high of $32.03. The company has a market cap of $10.26 billion, a PE ratio of 29.31 and a beta of 0.94. The stock has a 50 day simple moving average of $17.68 and a 200-day simple moving average of $20.35. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08.

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 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The firm's revenue was up 57.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities research analysts forecast that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.0152 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver's dividend payout ratio (DPR) is 8.45%.

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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