Trexquant Investment LP Buys 180,716 Shares of First Majestic Silver Corp. $AG

Key Points

• Trexquant Investment LP has increased its stake in First Majestic Silver Corp. by 17.6%, acquiring an additional 180,716 shares to total approximately 1.2 million shares.
• Despite a significant revenue increase of 94% year-over-year, First Majestic Silver's quarterly earnings fell short of analyst expectations, reporting $0.04 earnings per share against a consensus estimate of $0.06.
• The company recently announced a dividend cut, with a quarterly dividend of $0.0048 per share, resulting in an annualized yield of only 0.2%.

Trexquant Investment LP increased its holdings in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 17.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,207,445 shares of the mining company's stock after acquiring an additional 180,716 shares during the period. Trexquant Investment LP owned approximately 0.25% of First Majestic Silver worth $8,078,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in 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 buying an additional 3,506 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of First Majestic Silver during the 1st quarter valued at about $29,000. Banque Cantonale Vaudoise bought a new position in First Majestic Silver in the 1st quarter worth approximately $46,000. Captrust Financial Advisors bought a new stake in First Majestic Silver in the fourth quarter valued at $58,000. Finally, Focus Financial Network Inc. bought a new position in First Majestic Silver in the first quarter valued at about $67,000. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Stock Up 2.1%

Shares of NYSE AG traded up $0.20 during midday trading on Friday, reaching $9.27. 11,493,525 shares of the company's stock were exchanged, compared to its average volume of 20,748,855. The stock has a market capitalization of $4.51 billion, a PE ratio of -931.57 and a beta of 0.78. The business's fifty day moving average price is $8.67 and its two-hundred day moving average price is $7.25. First Majestic Silver Corp. has a 52-week low of $4.59 and a 52-week high of $9.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. During the same quarter last year, the company posted ($0.07) EPS. First Majestic Silver's revenue was up 94.0% on a year-over-year basis. Analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.0048 per share. 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 dividend payout ratio (DPR) is currently -200.00%.

Wall Street Analyst Weigh In

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

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.