Quantbot Technologies LP Trims Stock Holdings in First Majestic Silver Corp. $AG

Key Points

• Quantbot Technologies LP reduced its stake in First Majestic Silver Corp. by 71.8% in Q1, lowering its holdings to 134,456 shares, valued at approximately $900,000.
• Vanguard Group increased its position in First Majestic by 26.7%, now owning over 14 million shares worth about $96 million, indicating growing institutional interest.
• First Majestic reported a loss with Q2 earnings of $0.04 per share, missing expectations, and announced a quarterly dividend of $0.0048 per share, representing a significantly negative payout ratio.

Quantbot Technologies LP reduced its position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 71.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,456 shares of the mining company's stock after selling 341,533 shares during the quarter. Quantbot Technologies LP's holdings in First Majestic Silver were worth $900,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in First Majestic Silver by 1,221.6% in 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. Banque Cantonale Vaudoise acquired a new position in First Majestic Silver in the 1st quarter valued at about $46,000. Captrust Financial Advisors acquired a new position in First Majestic Silver in the 4th quarter valued at about $58,000. Focus Financial Network Inc. acquired a new position in First Majestic Silver in the 1st quarter valued at about $67,000. Finally, Littlejohn Financial Services Inc. acquired a new position in First Majestic Silver in the 1st quarter valued at about $68,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Stock Up 2.2%

AG traded up $0.20 on Friday, reaching $9.16. The company's stock had a trading volume of 22,817,512 shares, compared to its average volume of 15,336,626. The stock has a 50 day moving average of $8.57 and a two-hundred day moving average of $7.16. 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 company has a market capitalization of $4.46 billion, a price-to-earnings ratio of -914.59 and a beta of 0.72. First Majestic Silver Corp. has a fifty-two week low of $4.59 and a fifty-two week high of $9.48.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced 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). The business had revenue of $264.20 million during the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The business's revenue for the quarter was up 94.0% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. As a group, analysts forecast 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 will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.0048 dividend. This represents a $0.02 dividend on an annualized basis and a 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%.

Analyst Upgrades and Downgrades

AG has been the subject of a number of analyst reports. National Bank Financial raised First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. HC Wainwright reissued a "buy" rating and set a $12.75 price objective 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 research report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.