First Majestic Silver Corp. $AG Stock Holdings Raised by Swiss National Bank

Key Points

• The Swiss National Bank increased its holdings in First Majestic Silver Corp. by 33.3%, bringing its total share count to 793,780, worth approximately $5.31 million.
• Despite a quarterly revenue of $264.2 million, the company reported earnings per share of only $0.04, missing estimates, and had a net margin of 1.78%.
• The firm recently announced a quarterly dividend cut to $0.0048 per share, reflecting a dividend yield of only 0.2% and a dividend payout ratio of -200.00%.

Swiss National Bank raised its position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 33.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 793,780 shares of the mining company's stock after purchasing an additional 198,080 shares during the quarter. Swiss National Bank owned 0.16% of First Majestic Silver worth $5,310,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC raised its holdings 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 worth $25,000 after purchasing an additional 3,506 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of First Majestic Silver in the 1st quarter valued at $46,000. Focus Financial Network Inc. purchased a new position in shares of First Majestic Silver in the 1st quarter valued at $67,000. Littlejohn Financial Services Inc. purchased a new position in shares of First Majestic Silver in the 1st quarter valued at $68,000. Finally, Captrust Financial Advisors purchased a new position in shares of First Majestic Silver in the 4th quarter valued at $58,000. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AG shares. HC Wainwright reissued a "buy" rating and issued a $12.75 target price on shares of First Majestic Silver in a research note on Friday, August 15th. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. Finally, Scotiabank raised their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $9.63.

First Majestic Silver Stock Up 3.2%

First Majestic Silver stock traded up $0.2760 during midday trading on Friday, hitting $8.9860. 24,457,483 shares of the stock were exchanged, compared to its average volume of 14,707,322. First Majestic Silver Corp. has a 1 year low of $4.59 and a 1 year high of $9.48. The firm has a market cap of $4.38 billion, a P/E ratio of -897.70 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.74. The company has a 50 day moving average price of $8.50 and a two-hundred day moving average price of $7.04.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The firm had revenue of $264.20 million for the quarter, compared to analysts' expectations of $387.25 million. During the same period last year, the firm earned ($0.07) EPS. The business's quarterly revenue was up 94.0% on a year-over-year basis. On average, sell-side analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.0048 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. First Majestic Silver's payout ratio is presently -200.00%.

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.