Sprott Inc. Acquires 695,391 Shares of First Majestic Silver Corp. $AG

Key Points

• Sprott Inc. increased its stake in First Majestic Silver by 51.8%, acquiring 695,391 shares to hold 2,036,679 shares (about 0.42% of the company) valued at roughly $24.97 million.
• First Majestic beat EPS estimates for the quarter ($0.30 vs. $0.27) but missed revenue expectations ($463.9M vs. $561.3M), with revenue up 169% year‑over‑year and a market cap of $15.54 billion (52‑week range $5.09–$32.03).
• The company raised its quarterly dividend to $0.0083 (annualized $0.03, ~0.1% yield; ex‑dividend Feb. 27), and analysts' consensus is a "Moderate Buy" with a $25 average price target amid mixed buy/hold ratings.

Sprott Inc. increased its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 51.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,036,679 shares of the mining company's stock after acquiring an additional 695,391 shares during the quarter. Sprott Inc. owned 0.42% of First Majestic Silver worth $24,974,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. AdvisorNet Financial Inc increased its stake in First Majestic Silver by 33.2% in the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company's stock valued at $48,000 after purchasing an additional 971 shares in the last quarter. Signaturefd LLC boosted its position in shares of First Majestic Silver by 4.7% during the 3rd quarter. Signaturefd LLC now owns 22,275 shares of the mining company's stock worth $274,000 after purchasing an additional 1,008 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of First Majestic Silver by 6.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company's stock valued at $185,000 after buying an additional 1,282 shares during the period. CWM LLC increased its position in First Majestic Silver by 57.2% in the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company's stock valued at $42,000 after buying an additional 1,860 shares in the last quarter. Finally, Bogart Wealth LLC bought a new stake in First Majestic Silver in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Stock Down 1.5%

Shares of NYSE:AG opened at $31.53 on Tuesday. The stock has a 50 day moving average price of $22.17 and a 200-day moving average price of $15.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The firm has a market capitalization of $15.54 billion, a P/E ratio of 90.09 and a beta of 0.75. First Majestic Silver Corp. has a 52-week low of $5.09 and a 52-week high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The firm had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. The business's revenue was up 169.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, equities research analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.0083 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.03 dividend on an annualized basis and a yield of 0.1%. This is an increase from First Majestic Silver's previous quarterly dividend of $0.01. First Majestic Silver's payout ratio is 8.57%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AG shares. BMO Capital Markets reiterated a "market perform" rating on shares of First Majestic Silver in a report on Friday, January 16th. Scotiabank increased their target price on First Majestic Silver from $12.50 to $23.00 and gave the stock a "sector perform" rating in a report on Monday, January 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Cormark upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Thursday, November 6th. Finally, HC Wainwright raised their price objective on shares of First Majestic Silver to $30.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.00.

First Majestic Silver Company 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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