First Majestic Silver Corp. $AG Stock Holdings Lifted by Bayforest Capital Ltd

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 raised its position in 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 purchasing an additional 203,555 shares during the quarter. First Majestic Silver makes up approximately 0.6% of Bayforest Capital Ltd's holdings, making the stock its 6th biggest position. Bayforest Capital Ltd's holdings in First Majestic Silver were worth $1,431,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AG. Vanguard Group Inc. lifted its position in shares of First Majestic Silver by 26.7% during the 1st quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock worth $96,768,000 after purchasing an additional 3,051,614 shares during the last quarter. Tidal Investments LLC raised its holdings in First Majestic Silver by 135.2% in the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock valued at $74,647,000 after acquiring an additional 7,816,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Majestic Silver by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,845,005 shares of the mining company's stock worth $52,436,000 after buying an additional 820,664 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of First Majestic Silver in the 1st quarter worth approximately $47,656,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of First Majestic Silver in the 1st quarter worth approximately $46,070,000. Institutional investors own 27.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. National Bank Financial raised First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. HC Wainwright reaffirmed a "buy" rating and set a $12.75 price target on shares of First Majestic Silver in a report on Friday, August 15th. Finally, Scotiabank increased their price objective on 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. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.63.

First Majestic Silver Stock Up 3.2%

NYSE:AG opened at $9.45 on Tuesday. First Majestic Silver Corp. has a 1 year low of $4.60 and a 1 year high of $9.83. 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 $4.60 billion, a price-to-earnings ratio of -943.66 and a beta of 0.78. The stock has a 50-day moving average price of $8.71 and a two-hundred day moving average price of $7.33.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The business had revenue of $264.20 million during the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The firm's revenue was up 94.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, equities analysts expect that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, August 29th. First Majestic Silver's dividend payout ratio is presently -100.00%.

About First Majestic Silver

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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