Nomura Holdings Inc. Makes New Investment in First Majestic Silver Corp. $AG

Key Points

• Nomura Holdings Inc. has acquired a new stake in First Majestic Silver Corp. valued at approximately $1.41 million, purchasing 211,010 shares in the 1st quarter.
• First Majestic Silver reported a loss of $0.04 EPS for the last quarter, falling short of analysts' estimates, with revenues of $264.20 million compared to expectations of $387.25 million.
• The company's quarterly dividend is being cut to $0.0048, with an annualized yield of 0.2% and a negative dividend payout ratio of -200.00%.

Nomura Holdings Inc. purchased a new position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 211,010 shares of the mining company's stock, valued at approximately $1,412,000.

A number of other institutional investors also recently made changes to their positions in the stock. Vident Advisory LLC acquired a new stake in shares of First Majestic Silver in the 1st quarter worth approximately $82,000. Trexquant Investment LP lifted its stake in shares of First Majestic Silver by 17.6% in the 1st quarter. Trexquant Investment LP now owns 1,207,445 shares of the mining company's stock worth $8,078,000 after acquiring an additional 180,716 shares during the period. FORA Capital LLC acquired a new stake in shares of First Majestic Silver in the 1st quarter worth approximately $173,000. Synovus Financial Corp lifted its stake in shares of First Majestic Silver by 6.8% in the 1st quarter. Synovus Financial Corp now owns 39,852 shares of the mining company's stock worth $267,000 after acquiring an additional 2,552 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of First Majestic Silver by 76.2% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 237,530 shares of the mining company's stock worth $1,588,000 after acquiring an additional 102,726 shares during the period. 27.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AG has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and set a $12.75 target price on shares of First Majestic Silver in a research note on Friday, August 15th. Scotiabank increased their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. Finally, National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.63.

First Majestic Silver Trading Up 0.9%

Shares of AG stock traded up $0.09 during trading hours on Friday, reaching $9.16. 20,354,902 shares of the stock traded hands, compared to its average volume of 17,190,220. First Majestic Silver Corp. has a 1-year low of $4.59 and a 1-year high of $9.83. The business has a fifty day moving average price of $8.69 and a 200 day moving average price of $7.29. 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 firm has a market capitalization of $4.46 billion, a PE ratio of -914.59 and a beta of 0.78.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly 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 firm had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm's revenue was up 94.0% compared to the same quarter last year. On average, equities research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Cuts Dividend

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

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.