Jupiter Asset Management Ltd. Takes $46.07 Million Position in First Majestic Silver Corp. (NYSE:AG)

Key Points

• Jupiter Asset Management Ltd. acquired 6,886,413 shares of First Majestic Silver Corp. valued at approximately $46,070,000, representing 1.42% ownership as per its recent SEC filing.
• First Majestic Silver reported a quarterly EPS of $0.05, missing the consensus estimate of $0.06, with revenue of $241.12 million compared to the expected $358.65 million.
• The company declared a dividend of $0.0045 per share, with an ex-dividend date of May 16th, reflecting a significant dividend yield of 32.0% despite a negative dividend payout ratio of -3.45%.

Jupiter Asset Management Ltd. purchased a new position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,886,413 shares of the mining company's stock, valued at approximately $46,070,000. Jupiter Asset Management Ltd. owned about 1.42% of First Majestic Silver at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Moors & Cabot Inc. grew its position in shares of First Majestic Silver by 72.2% during the first quarter. Moors & Cabot Inc. now owns 29,445 shares of the mining company's stock worth $197,000 after purchasing an additional 12,345 shares in the last quarter. Harbour Investments Inc. boosted its stake in First Majestic Silver by 634.2% in the 1st quarter. Harbour Investments Inc. now owns 22,076 shares of the mining company's stock worth $148,000 after purchasing an additional 19,069 shares during the period. Baader Bank Aktiengesellschaft bought a new position in First Majestic Silver in the 1st quarter worth approximately $98,000. Bayforest Capital Ltd boosted its stake in First Majestic Silver by 1,978.6% in the 1st quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company's stock worth $1,431,000 after purchasing an additional 203,555 shares during the period. Finally, Vestcor Inc bought a new position in First Majestic Silver in the 1st quarter worth approximately $136,000. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Stock Up 0.5%

Shares of AG traded up $0.04 during midday trading on Wednesday, reaching $8.39. 8,981,978 shares of the stock were exchanged, compared to its average volume of 21,158,545. The company has a current ratio of 3.19, a quick ratio of 2.74 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $4.09 billion, a P/E ratio of -28.93 and a beta of 0.72. First Majestic Silver Corp. has a 52 week low of $4.59 and a 52 week high of $9.48. The company's 50 day moving average is $8.19 and its two-hundred day moving average is $6.77.

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

First Majestic Silver Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on AG. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. HC Wainwright upped their price target on First Majestic Silver from $11.50 to $12.75 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, Scotiabank raised their price target on First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $9.63.

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.