Realta Investment Advisors Purchases 98,562 Shares of First Majestic Silver Corp. $AG

Key Points

• Realta Investment Advisors increased its stake in First Majestic Silver Corp. by 19.3% during Q2, acquiring an additional 98,562 shares and holding a total of 608,012 shares worth approximately $5,028,000.
• The company reported a quarterly earnings miss, with earnings per share of $0.04, falling short of the consensus estimate of $0.06, while quarterly revenue rose 94.0% compared to the previous year.
• First Majestic Silver recently cut its dividend to $0.0048 per share, resulting in an annualized yield of only 0.2% and a dividend payout ratio of -200%.

Realta Investment Advisors boosted its position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 608,012 shares of the mining company's stock after acquiring an additional 98,562 shares during the period. First Majestic Silver accounts for 2.0% of Realta Investment Advisors' portfolio, making the stock its 11th largest position. Realta Investment Advisors owned 0.12% of First Majestic Silver worth $5,028,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in shares of 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 purchasing an additional 3,506 shares during the last quarter. AlphaQuest LLC acquired a new position in First Majestic Silver in the first quarter valued at approximately $29,000. Banque Cantonale Vaudoise bought a new position in First Majestic Silver in the first quarter valued at approximately $46,000. American National Bank & Trust acquired a new stake in First Majestic Silver during the 2nd quarter worth $66,000. Finally, Focus Financial Network Inc. bought a new stake in shares of First Majestic Silver during the 1st quarter valued at $67,000. 27.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of First Majestic Silver from a "hold" rating to a "buy" rating in a research report on Friday. Weiss Ratings reissued a "hold (c-)" rating on shares of First Majestic Silver in a research report on Saturday, September 27th. HC Wainwright reissued a "buy" rating and issued a $12.75 price target on shares of First Majestic Silver in a report on Friday, August 15th. Scotiabank raised their price objective on 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. Finally, National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $9.63.

First Majestic Silver Stock Up 0.4%

NYSE:AG opened at $12.11 on Friday. First Majestic Silver Corp. has a twelve month low of $5.09 and a twelve month high of $13.00. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of -1,209.49 and a beta of 0.76. 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 stock's 50 day moving average price is $9.67 and its two-hundred day moving average price is $7.99.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $387.25 million. During the same period in the prior year, the business posted ($0.07) earnings per share. First Majestic Silver's quarterly revenue was up 94.0% compared to the same quarter last year. Equities research analysts expect that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.0048 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, August 29th. First Majestic Silver's dividend payout ratio is presently -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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