76,500 Shares in First Majestic Silver Corp. $AG Purchased by Marotta Asset Management

Key Points

• Marotta Asset Management has acquired a new stake in First Majestic Silver Corp. during the second quarter, purchasing 76,500 shares valued at approximately $633,000.
• First Majestic Silver recently reported earnings of $0.04 per share, missing consensus estimates, while its revenue decreased compared to expectations, bringing in $264.20 million for the quarter.
• The company announced a quarterly dividend of $0.0048, reflecting a 0.2% dividend yield and a negative dividend payout ratio of -200.00%.

Marotta Asset Management acquired a new position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,500 shares of the mining company's stock, valued at approximately $633,000.

Several other institutional investors also recently modified their holdings of the stock. Tidal Investments LLC increased its position in First Majestic Silver by 135.2% during the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock worth $74,647,000 after buying an additional 7,816,177 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in First Majestic Silver during the first quarter worth about $47,656,000. Jupiter Asset Management Ltd. acquired a new position in shares of First Majestic Silver in the 1st quarter worth approximately $46,070,000. Sprott Inc. boosted its stake in First Majestic Silver by 603.8% in the 1st quarter. Sprott Inc. now owns 4,612,904 shares of the mining company's stock valued at $30,856,000 after buying an additional 3,957,459 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in First Majestic Silver by 26.7% in the first quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock valued at $96,768,000 after buying an additional 3,051,614 shares in the last quarter. Institutional investors own 27.16% of the company's stock.

First Majestic Silver Price Performance

NYSE:AG traded down $0.10 during mid-day trading on Thursday, hitting $9.96. 13,017,599 shares of the stock traded hands, compared to its average volume of 20,884,732. The company has a market cap of $4.85 billion, a PE ratio of -993.51 and a beta of 0.78. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08. The business's 50-day moving average price is $8.95 and its 200 day moving average price is $7.52. First Majestic Silver Corp. has a 12-month low of $5.09 and a 12-month high of $10.90.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 94.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share. On average, analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.0048 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. First Majestic Silver's payout ratio is currently -100.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. HC Wainwright reaffirmed a "buy" rating and set a $12.75 price target on shares of First Majestic Silver in a research report on Friday, August 15th. Finally, Scotiabank boosted their price objective on First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, First Majestic Silver currently has an average rating of "Hold" and an average price target of $9.63.

First Majestic Silver Company Profile

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.