Louisbourg Investments Inc. Acquires Shares of 279,600 First Majestic Silver Corp. $AG

Key Points

• Louisbourg Investments Inc. disclosed a new first-quarter stake in First Majestic Silver, buying 279,600 shares valued at about $5.98 million. The position represented roughly 0.06% of the company.
• Institutional ownership in First Majestic Silver remains significant, with several firms adding to their positions and 27.16% of the stock now held by institutions overall. Notable holders include Vanguard and MIRAE ASSET GLOBAL ETFS HOLDINGS.
• First Majestic Silver posted mixed recent results: quarterly EPS of $0.31 missed estimates, while revenue of $476.67 million rose sharply year over year. The company also increased its quarterly dividend to $0.0171 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $25.25.

Louisbourg Investments Inc. purchased a new stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 279,600 shares of the mining company's stock, valued at approximately $5,982,000. Louisbourg Investments Inc. owned approximately 0.06% of First Majestic Silver at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sprott Inc. grew its position in shares of First Majestic Silver by 51.8% during the third quarter. Sprott Inc. now owns 2,036,679 shares of the mining company's stock worth $24,974,000 after acquiring an additional 695,391 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of First Majestic Silver by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,050,155 shares of the mining company's stock worth $221,657,000 after purchasing an additional 739,315 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of First Majestic Silver by 891.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company's stock valued at $3,008,000 after acquiring an additional 220,056 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in First Majestic Silver during the fourth quarter valued at about $1,514,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Majestic Silver by 38.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company's stock valued at $232,539,000 after purchasing an additional 5,265,612 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AG has been the subject of several research reports. Weiss Ratings cut shares of First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 5th. Scotiabank upgraded shares of First Majestic Silver to a "hold" rating in a research note on Thursday, April 23rd. BMO Capital Markets upgraded shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. Wall Street Zen lowered shares of First Majestic Silver from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, HC Wainwright boosted their price target on shares of First Majestic Silver to $30.75 and gave the company a "buy" rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, First Majestic Silver currently has an average rating of "Moderate Buy" and an average price target of $25.25.

First Majestic Silver Stock Up 2.6%

AG opened at $16.93 on Friday. First Majestic Silver Corp. has a fifty-two week low of $7.74 and a fifty-two week high of $32.03. The business has a 50-day moving average of $19.61 and a 200-day moving average of $20.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The company has a market capitalization of $8.35 billion, a PE ratio of 28.21 and a beta of 0.86.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The firm had revenue of $476.67 million for the quarter, compared to analyst estimates of $522.00 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The firm's quarterly revenue was up 95.3% compared to the same quarter last year. Equities research analysts forecast that First Majestic Silver Corp. will post 0.74 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were paid a $0.0171 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 20th. First Majestic Silver's dividend payout ratio is presently 11.67%.

First Majestic Silver 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.

Want to see what other hedge funds are holding AG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.