Royal Bank of Canada Sells 225,935 Shares of First Majestic Silver Corp. $AG

Key Points

• Royal Bank of Canada cut its First Majestic Silver stake by 50%, selling 225,935 shares during the first quarter and retaining 226,376 shares valued at approximately $4.86 million. Institutional investors currently own 27.16% of the company.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $23.83. Recent ratings included a price-target increase from HC Wainwright and upgrades from ATB Cormark, alongside downgrades from other firms.
• First Majestic’s latest quarterly results missed expectations, reporting $0.21 in EPS versus the $0.25 consensus and revenue of $415.5 million versus $496 million expected, though revenue increased 57.3% year over year. The company also declared a quarterly dividend of $0.0152 per share, equivalent to a 0.3% annual yield.

Royal Bank of Canada cut its stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 50.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,376 shares of the mining company's stock after selling 225,935 shares during the quarter. Royal Bank of Canada's holdings in First Majestic Silver were worth $4,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AG. EFG International AG bought a new stake in First Majestic Silver in the fourth quarter valued at approximately $25,000. Harbor Investment Advisory LLC purchased a new stake in shares of First Majestic Silver during the first quarter valued at approximately $32,000. PNC Financial Services Group Inc. grew its holdings in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock worth $32,000 after purchasing an additional 978 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of First Majestic Silver by 36.4% in the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock worth $45,000 after purchasing an additional 560 shares during the last quarter. Finally, Sittner & Nelson LLC purchased a new position in shares of First Majestic Silver in the fourth quarter worth $50,000. 27.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. HC Wainwright upped their price target on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a "buy" rating in a report on Friday, July 31st. Wall Street Zen lowered shares of First Majestic Silver from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 10th. Scotiabank lowered their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, First Majestic Silver currently has an average rating of "Moderate Buy" and a consensus price target of $23.83.

First Majestic Silver Price Performance

AG opened at $18.81 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. First Majestic Silver Corp. has a 52-week low of $8.34 and a 52-week high of $32.03. The stock has a market capitalization of $9.27 billion, a PE ratio of 26.50 and a beta of 0.94. The stock's 50 day moving average price is $17.03 and its 200-day moving average price is $20.52.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The business had revenue of $415.50 million during the quarter, compared to analysts' expectations of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The business's revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. On average, equities research analysts predict that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.0152 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.06 annualized dividend and a yield of 0.3%. First Majestic Silver's dividend payout ratio is 9.86%.

First Majestic Silver Profile

First Majestic Silver Corp. NYSE: AG engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.

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