First Majestic Silver Corp. $AG Stake Boosted by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in First Majestic Silver by 194.6% in Q4, adding 86,715 shares to hold 131,267 shares worth about $2.19 million, while institutional investors own 27.16% of the stock.
• First Majestic has a consensus rating of "Moderate Buy" with a consensus price target of $25.00, following recent broker moves such as BMO's upgrade to "outperform" and HC Wainwright's $30 target.
• The company posted an EPS beat ( $0.30 vs. $0.27 ) with revenue of $463.9M (up 169% YoY but below estimates); AG trades with a market cap around $10.76B and a one‑year range of $5.18–$32.03.

SG Americas Securities LLC raised its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 194.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 131,267 shares of the mining company's stock after buying an additional 86,715 shares during the quarter. SG Americas Securities LLC's holdings in First Majestic Silver were worth $2,187,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC bought a new stake in shares of First Majestic Silver during the third quarter valued at approximately $28,000. Aventura Private Wealth LLC acquired a new position in shares of First Majestic Silver during the fourth quarter worth approximately $42,000. Sound Income Strategies LLC grew its holdings in First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company's stock worth $37,000 after buying an additional 2,990 shares in the last quarter. AdvisorNet Financial Inc increased its position in First Majestic Silver by 33.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company's stock valued at $48,000 after acquiring an additional 971 shares during the period. Finally, Quarry LP acquired a new stake in First Majestic Silver in the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 27.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AG. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Scotiabank upped their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a "sector perform" rating in a research note on Monday, January 26th. BMO Capital Markets upgraded shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 24th. Zacks Research lowered shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, HC Wainwright boosted their target price on First Majestic Silver to $30.00 and gave the stock a "buy" rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, First Majestic Silver currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.00.

First Majestic Silver Price Performance

AG stock opened at $21.83 on Friday. First Majestic Silver Corp. has a one year low of $5.18 and a one year high of $32.03. The firm has a 50-day moving average of $23.83 and a two-hundred day moving average of $17.95. The firm has a market capitalization of $10.76 billion, a PE ratio of 62.37 and a beta of 0.97. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating 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%. The company's revenue was up 169.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. On average, analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a $0.0083 dividend. This represents a $0.03 dividend on an annualized basis and a yield of 0.2%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. The ex-dividend date was Friday, February 27th. First Majestic Silver's dividend payout ratio is presently 8.57%.

About First Majestic Silver

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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