MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 820,664 Shares of First Majestic Silver Corp. $AG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in First Majestic Silver Corp. by 11.7%, owning 7,845,005 shares valued at approximately $52.4 million.
• Vanguard Group Inc. and other hedge funds have also raised their stakes in First Majestic Silver, with Vanguard increasing by 26.7% to own 14,475,305 shares worth nearly $96.8 million.
• First Majestic Silver recently reported a missed earnings estimate for the quarter, posting $0.04 EPS compared to the expected $0.06, while revenues also fell short of predictions at $264.2 million.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,845,005 shares of the mining company's stock after purchasing an additional 820,664 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.62% of First Majestic Silver worth $52,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in 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 valued at $25,000 after acquiring an additional 3,506 shares in the last quarter. AlphaQuest LLC purchased a new stake in First Majestic Silver in the 1st quarter valued at $29,000. Banque Cantonale Vaudoise purchased a new position in shares of First Majestic Silver in the 1st quarter valued at approximately $46,000. Captrust Financial Advisors purchased a new stake in shares of First Majestic Silver during the 4th quarter worth approximately $58,000. Finally, Focus Financial Network Inc. purchased a new position in shares of First Majestic Silver during the 1st quarter worth approximately $67,000. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Stock Performance

NYSE:AG traded up $0.80 during mid-day trading on Thursday, hitting $10.23. 20,619,003 shares of the stock were exchanged, compared to its average volume of 20,765,125. First Majestic Silver Corp. has a fifty-two week low of $5.09 and a fifty-two week high of $10.12. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of -1,019.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. The firm's 50-day simple moving average is $8.75 and its 200 day simple moving average is $7.35.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results 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 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 firm's quarterly revenue was up 94.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, equities analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $12.75 price objective on shares of First Majestic Silver in a research note on Friday, August 15th. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, Scotiabank boosted their target price 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 investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.