Fulcrum Asset Management LLP Invests $2.47 Million in First Majestic Silver Corp. $AG

Key Points

• Fulcrum Asset Management purchased 146,830 shares of First Majestic Silver during the second quarter, valued at approximately $2.47 million. Institutional investors collectively own 27.16% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $23.83, despite mixed recent rating changes.
• First Majestic reported quarterly EPS of $0.21, below the $0.25 consensus estimate, while revenue rose 57.3% year over year to $415.5 million. The company declared a quarterly dividend of $0.0152 per share, yielding about 0.3% annually.

Fulcrum Asset Management LLP purchased a new stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 146,830 shares of the mining company's stock, valued at approximately $2,468,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EFG International AG acquired a new stake in First Majestic Silver in the fourth quarter worth about $25,000. Harbor Investment Advisory LLC acquired a new position in First Majestic Silver during the 1st quarter valued at about $32,000. PNC Financial Services Group Inc. increased its stake in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock valued at $32,000 after buying an additional 978 shares during the period. Parallel Advisors LLC raised its position in shares of First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock worth $45,000 after buying an additional 560 shares in the last quarter. Finally, Sittner & Nelson LLC bought a new stake in shares of First Majestic Silver during the 4th quarter worth about $50,000. 27.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AG. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, July 10th. Weiss Ratings cut First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 5th. Scotiabank cut their target price on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Wall Street Zen lowered First Majestic Silver from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, HC Wainwright lifted their price target on First Majestic Silver from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.83.

First Majestic Silver Stock Performance

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

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. During the same period in the prior year, the firm earned $0.11 EPS. The business's revenue for the quarter was up 57.3% on a year-over-year basis. Analysts forecast that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.0152 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.06 annualized dividend and a yield of 0.3%. First Majestic Silver's payout ratio is 8.45%.

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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