Mackenzie Financial Corp Raises Position in First Majestic Silver Corp. (NYSE:AG)

Key Points

• Mackenzie Financial Corp increased its stake in First Majestic Silver Corp by 254.6% in Q1, acquiring an additional 395,363 shares, bringing its total ownership to about $3.68 million.
• The company reported $0.05 EPS for the quarter, missing estimates, and generated revenue of $241.12 million, compared to analyst expectations of $358.65 million.
• First Majestic Silver announced a dividend of $0.0045 per share, which yields 32.0%, with an ex-dividend date on May 16th.

Mackenzie Financial Corp boosted its position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 254.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 550,625 shares of the mining company's stock after purchasing an additional 395,363 shares during the quarter. Mackenzie Financial Corp owned about 0.11% of First Majestic Silver worth $3,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of First Majestic Silver by 8.3% in the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock worth $128,000 after acquiring an additional 1,776 shares during the last quarter. Rathbones Group PLC boosted its holdings in shares of First Majestic Silver by 4.3% in the fourth quarter. Rathbones Group PLC now owns 56,852 shares of the mining company's stock worth $312,000 after buying an additional 2,325 shares during the last quarter. Signaturefd LLC raised its stake in First Majestic Silver by 16.0% during the 1st quarter. Signaturefd LLC now owns 24,377 shares of the mining company's stock worth $163,000 after acquiring an additional 3,357 shares during the period. Sigma Planning Corp raised its holdings in shares of First Majestic Silver by 29.0% during the 1st quarter. Sigma Planning Corp now owns 15,030 shares of the mining company's stock worth $101,000 after acquiring an additional 3,380 shares in the last quarter. Finally, Veracity Capital LLC grew its stake in First Majestic Silver by 18.4% in the first quarter. Veracity Capital LLC now owns 22,078 shares of the mining company's stock worth $148,000 after purchasing an additional 3,425 shares in the last quarter. 27.16% of the stock is owned by institutional investors.

First Majestic Silver Trading Up 0.1%

AG traded up $0.01 during midday trading on Wednesday, reaching $8.36. 7,300,003 shares of the company were exchanged, compared to its average volume of 21,149,918. The stock's 50-day simple moving average is $8.19 and its 200 day simple moving average is $6.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19. First Majestic Silver Corp. has a one year low of $4.59 and a one year high of $9.48. The stock has a market capitalization of $4.07 billion, a P/E ratio of -28.84 and a beta of 0.72.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. First Majestic Silver's quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. As a group, analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.0045 dividend. This represents a yield of 32.0%. The ex-dividend date was Friday, May 16th. First Majestic Silver's payout ratio is presently -6.90%.

Analyst Ratings Changes

AG has been the topic of a number of recent research reports. Scotiabank upped their target price 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. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, HC Wainwright upped their target price on shares of First Majestic Silver from $11.50 to $12.75 and gave the company a "buy" rating in a research report on Thursday, July 10th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.63.

First Majestic Silver Company 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.