Nuveen LLC Invests $2.31 Million in First Majestic Silver Corp. $AG

Key Points

• Nuveen LLC has invested approximately $2.31 million in First Majestic Silver Corp., acquiring 345,645 shares and holding 0.07% of the company as of the latest SEC filing.
• Analysts have set a consensus price target of $9.63 for First Majestic Silver, with one rating as "Buy" and four as "Hold."
• First Majestic Silver recently reported $0.04 EPS for the quarter, falling short of expectations, and has announced a small quarterly dividend of $0.0048 per share.

Nuveen LLC bought a new position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 345,645 shares of the mining company's stock, valued at approximately $2,310,000. Nuveen LLC owned 0.07% of First Majestic Silver as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of First Majestic Silver by 26.7% during the 1st 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. Tidal Investments LLC grew its position in shares of First Majestic Silver by 135.2% in the 4th 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 stake in shares of First Majestic Silver during the first quarter valued at approximately $47,656,000. Jupiter Asset Management Ltd. bought a new stake in shares of First Majestic Silver during the first quarter valued at approximately $46,070,000. Finally, Two Sigma Investments LP boosted its position in shares of First Majestic Silver by 46.8% during the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company's stock valued at $24,463,000 after purchasing an additional 1,420,937 shares in the last quarter. Institutional investors own 27.16% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AG. HC Wainwright reaffirmed a "buy" rating and issued a $12.75 price objective on shares of First Majestic Silver in a research report on Friday, August 15th. Scotiabank boosted 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 report on Wednesday, July 9th. Finally, National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, First Majestic Silver currently has an average rating of "Hold" and a consensus target price of $9.63.

First Majestic Silver Stock Up 2.2%

AG stock opened at $9.16 on Friday. The firm has a 50 day moving average of $8.57 and a 200 day moving average of $7.15. The stock has a market capitalization of $4.46 billion, a PE ratio of -914.59 and a beta of 0.72. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a 52 week low of $4.59 and a 52 week high of $9.48.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted 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 return on equity of 1.72% and a net margin of 1.78%.The business had revenue of $264.20 million for the quarter, compared to analysts' expectations of $387.25 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The business's quarterly revenue was up 94.0% compared to the same quarter last year. Sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued 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 payout ratio is -200.00%.

First Majestic Silver 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.

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