Marotta Asset Management Buys Shares of 76,500 First Majestic Silver Corp. $AG

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 bought a new position in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 76,500 shares of the mining company's stock, valued at approximately $633,000.

Other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of First Majestic Silver by 1,221.6% during the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after buying an additional 3,506 shares in the last quarter. AlphaQuest LLC bought a new position in shares of First Majestic Silver during the 1st quarter worth approximately $29,000. Banque Cantonale Vaudoise bought a new position in shares of First Majestic Silver during the 1st quarter worth approximately $46,000. Captrust Financial Advisors bought a new position in shares of First Majestic Silver during the 4th quarter worth approximately $58,000. Finally, Focus Financial Network Inc. bought a new position in shares of First Majestic Silver during the 1st quarter worth approximately $67,000. Institutional investors own 27.16% of the company's stock.

First Majestic Silver Stock Performance

AG stock traded up $0.27 during midday trading on Monday, reaching $10.81. 19,041,408 shares of the company's stock traded hands, compared to its average volume of 19,368,890. The company has a 50-day moving average price of $8.87 and a two-hundred day moving average price of $7.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. First Majestic Silver Corp. has a 52 week low of $5.09 and a 52 week high of $10.85. The firm has a market capitalization of $5.27 billion, a PE ratio of -1,079.92 and a beta of 0.78.

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

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.0048 per share. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AG. HC Wainwright reissued a "buy" rating and set a $12.75 target price on shares of First Majestic Silver in a research report on Friday, August 15th. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. Finally, Scotiabank raised their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.