Bayforest Capital Ltd Has $1.43 Million Holdings in First Majestic Silver Corp. $AG

Key Points

• Bayforest Capital Ltd significantly increased its stake in First Majestic Silver Corp. by 1,978.6% during the first quarter, now owning 213,843 shares valued at approximately $1.43 million.
• Several major institutional investors, including Vanguard Group Inc. and Tidal Investments LLC, also boosted their positions in First Majestic Silver, reflecting increased confidence in the mining company.
• First Majestic Silver reported missed earnings estimates for the latest quarter, with an EPS of $0.04 against an expected $0.06, alongside a decline in revenue from projections.

Bayforest Capital Ltd boosted its holdings in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 1,978.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,843 shares of the mining company's stock after buying an additional 203,555 shares during the period. First Majestic Silver comprises 0.6% of Bayforest Capital Ltd's portfolio, making the stock its 6th largest holding. Bayforest Capital Ltd's holdings in First Majestic Silver were worth $1,431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its stake in shares of First Majestic Silver by 66.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company's stock valued at $675,000 after purchasing an additional 40,228 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of First Majestic Silver in the 1st quarter valued at $1,935,000. Oppenheimer & Co. Inc. acquired a new stake in shares of First Majestic Silver in the 1st quarter valued at $79,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of First Majestic Silver by 313.0% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 440,644 shares of the mining company's stock valued at $2,941,000 after purchasing an additional 333,950 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of First Majestic Silver in the 1st quarter valued at $47,656,000. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Trading Up 1.4%

Shares of AG stock traded up $0.15 on Friday, reaching $10.54. The company had a trading volume of 25,760,303 shares, compared to its average volume of 19,166,696. The company has a current ratio of 3.27, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $5.14 billion, a PE ratio of -1,052.95 and a beta of 0.78. The company has a 50-day moving average of $8.82 and a 200-day moving average of $7.43. First Majestic Silver Corp. has a 12 month low of $5.09 and a 12 month high of $10.83.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly 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). The company had revenue of $264.20 million during the quarter, compared to the consensus estimate of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The business's revenue was up 94.0% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. On average, equities analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, August 29th. First Majestic Silver's dividend payout ratio is presently -200.00%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AG shares. Scotiabank upped their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. HC Wainwright reiterated a "buy" rating and set a $12.75 price target on shares of First Majestic Silver in a research report on Friday, August 15th. Finally, National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, First Majestic Silver has an average rating of "Hold" and a consensus target price of $9.63.

First Majestic Silver 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.