Susquehanna Fundamental Investments LLC Acquires Shares of 98,500 First Majestic Silver Corp. $AG

Key Points

• Susquehanna Fundamental Investments acquired 98,500 shares of First Majestic Silver during the second quarter, valued at approximately $1.67 million. Institutional investors and hedge funds collectively own 27.16% of the company.
• First Majestic reported quarterly earnings of $0.21 per share, below the $0.25 consensus estimate, while revenue of $415.5 million also missed expectations despite rising 57.3% year over year.
• The stock recently traded at $19.86, and analysts maintain a “Moderate Buy” consensus with an average price target of $23.83. The company’s quarterly dividend was reduced to $0.0152 per share, representing a 0.3% annualized yield.

Susquehanna Fundamental Investments LLC acquired a new stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 98,500 shares of the mining company's stock, valued at approximately $1,671,000.

A number of other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of First Majestic Silver by 77.4% in the first quarter. Royal Bank of Canada now owns 604,186 shares of the mining company's stock valued at $4,042,000 after purchasing an additional 263,688 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in First Majestic Silver by 355.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company's stock worth $7,985,000 after buying an additional 931,690 shares during the period. Geode Capital Management LLC lifted its holdings in First Majestic Silver by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company's stock worth $1,994,000 after buying an additional 26,553 shares in the last quarter. Creative Planning boosted its position in First Majestic Silver by 25.3% in the 2nd quarter. Creative Planning now owns 28,837 shares of the mining company's stock valued at $238,000 after buying an additional 5,828 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of First Majestic Silver by 12.8% during the second quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company's stock valued at $215,000 after acquiring an additional 2,936 shares in the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Stock Down 3.5%

Shares of First Majestic Silver stock opened at $19.86 on Wednesday. The business has a 50-day moving average price of $17.80 and a 200 day moving average price of $20.27. First Majestic Silver Corp. has a fifty-two week low of $9.00 and a fifty-two week high of $32.03. The firm has a market cap of $9.79 billion, a P/E ratio of 27.97 and a beta of 0.99. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $415.50 million for the quarter, compared to the consensus estimate of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The firm's revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.0152 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 14th. First Majestic Silver's dividend payout ratio is currently 8.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AG. Wall Street Zen lowered First Majestic Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. ATB Cormark Capital Markets raised First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, July 10th. Scotiabank lowered their price objective on 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. HC Wainwright lifted their price objective on First Majestic Silver from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Weiss Ratings lowered First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.83.

About First Majestic Silver

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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