Headlands Technologies LLC Sells 125,312 Shares of First Majestic Silver Corp. $AG

Key Points

• Headlands Technologies cut its First Majestic Silver stake by 70.3% in the second quarter, selling 125,312 shares and retaining 53,060 shares valued at approximately $900,000.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $23.83, despite mixed recent upgrades and downgrades.
• First Majestic reported quarterly revenue of $415.5 million, up 57.3% year over year, but missed earnings and revenue expectations. The company pays an annualized dividend of $0.06 per share, yielding about 0.3%.

Headlands Technologies LLC trimmed its position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 70.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,060 shares of the mining company's stock after selling 125,312 shares during the period. Headlands Technologies LLC's holdings in First Majestic Silver were worth $900,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EFG International AG bought a new stake in shares of First Majestic Silver during the 4th quarter valued at $25,000. Harbor Investment Advisory LLC bought a new position in shares of First Majestic Silver in the 1st quarter worth about $32,000. PNC Financial Services Group Inc. increased its stake in shares of First Majestic Silver by 184.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock worth $32,000 after acquiring an additional 978 shares in the last quarter. Parallel Advisors LLC lifted its position in First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock valued at $45,000 after acquiring an additional 560 shares during the period. Finally, Sittner & Nelson LLC purchased a new position in First Majestic Silver during the 4th quarter valued at about $50,000. Institutional investors own 27.16% of the company's stock.

Analyst Upgrades and Downgrades

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

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $19.86 on Wednesday. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 27.97 and a beta of 0.99. The firm's 50-day moving average is $17.80 and its 200 day moving average is $20.27. First Majestic Silver Corp. has a 1 year low of $9.00 and a 1 year high of $32.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38.

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 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $415.50 million for the quarter, compared to analysts' expectations of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business's revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Sell-side analysts anticipate that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a dividend of $0.0152 per share. The ex-dividend date was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. First Majestic Silver's dividend payout ratio is presently 8.45%.

First Majestic Silver Company Profile

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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