Jump Financial LLC Trims Stock Position in First Majestic Silver Corp. $AG

Key Points

• Jump Financial LLC significantly decreased its stake in First Majestic Silver Corp., cutting its holdings by 99.7% to just 23,618 shares after selling over 7.5 million shares in the first quarter.
• First Majestic Silver's stock has seen a 4.3% decline recently, with current trading at $9.07 and a market capitalization of $4.42 billion.
• The company missed analysts' earnings expectations, reporting $0.04 EPS compared to a forecast of $0.06, alongside a significant revenue shortfall of $264.20 million against estimates of $387.25 million.

Jump Financial LLC lessened its position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 99.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,618 shares of the mining company's stock after selling 7,548,916 shares during the quarter. Jump Financial LLC's holdings in First Majestic Silver were worth $158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AG. Dimensional Fund Advisors LP lifted its holdings in First Majestic Silver by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company's stock valued at $19,060,000 after purchasing an additional 121,892 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of First Majestic Silver by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 257,158 shares of the mining company's stock valued at $1,415,000 after purchasing an additional 7,229 shares during the period. BNP Paribas Financial Markets grew its position in shares of First Majestic Silver by 67.0% in the fourth quarter. BNP Paribas Financial Markets now owns 434,482 shares of the mining company's stock valued at $2,385,000 after purchasing an additional 174,272 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at about $322,000. Finally, Captrust Financial Advisors acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at about $58,000. Institutional investors and hedge funds own 27.16% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AG. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. HC Wainwright reiterated a "buy" rating and issued a $12.75 target price on shares of First Majestic Silver in a research report on Friday, August 15th. Finally, Scotiabank lifted their target price on shares of 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 given a Hold rating to the company. According to MarketBeat, First Majestic Silver has a consensus rating of "Hold" and an average target price of $9.63.

First Majestic Silver Price Performance

AG traded up $0.28 on Wednesday, reaching $9.42. 19,125,248 shares of the company's stock were exchanged, compared to its average volume of 18,088,544. The stock has a market cap of $4.59 billion, a PE ratio of -940.56 and a beta of 0.78. First Majestic Silver Corp. has a twelve month low of $4.73 and a twelve month high of $9.83. The stock's fifty day moving average price is $8.75 and its 200-day moving average price is $7.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The business had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business's revenue was up 94.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Sell-side analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Cuts Dividend

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

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.