Tudor Investment Corp ET AL Boosts Stake in First Majestic Silver Corp. $AG

Key Points

• Tudor Investment Corp ET AL boosted its stake in First Majestic by 891.5% to 244,740 shares (about $3.01M), joining other large institutional buyers like VanEck and Mirae Asset as institutional ownership stands at 27.16%.
• Analysts have largely upgraded the stock to a consensus Buy with an average target of $25, and AG shares traded up about 6.9% to $20.65 (market cap ~$10.18B) on the news.
• First Majestic reported quarterly EPS of $0.30 (beating estimates) with revenue up 169.2% YoY to $463.9M (below revenue estimates) and declared a quarterly dividend of $0.0083 per share (annualized $0.03, ~0.2% yield).

Tudor Investment Corp ET AL raised its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 891.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,740 shares of the mining company's stock after acquiring an additional 220,056 shares during the period. Tudor Investment Corp ET AL's holdings in First Majestic Silver were worth $3,008,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of First Majestic Silver by 32.0% during the third quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company's stock worth $531,234,000 after purchasing an additional 10,471,543 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in First Majestic Silver by 74.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company's stock valued at $112,880,000 after purchasing an additional 5,821,751 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in First Majestic Silver in the third quarter valued at approximately $55,071,000. Alps Advisors Inc. lifted its position in First Majestic Silver by 108.7% during the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company's stock valued at $88,527,000 after purchasing an additional 3,751,376 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in First Majestic Silver in the 3rd quarter worth approximately $32,795,000. Institutional investors own 27.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. HC Wainwright increased their price target on shares of First Majestic Silver to $30.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Zacks Research raised shares of First Majestic Silver from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 19th. BMO Capital Markets upgraded shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday. Weiss Ratings reissued a "hold (c-)" rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded First Majestic Silver from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $25.00.

First Majestic Silver Trading Up 6.9%

AG stock opened at $20.65 on Friday. The company has a market capitalization of $10.18 billion, a PE ratio of 58.99 and a beta of 0.76. First Majestic Silver Corp. has a one year low of $5.18 and a one year high of $32.03. The company's 50 day moving average price is $24.01 and its two-hundred day moving average price is $17.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38.

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

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $0.0083 per share. The ex-dividend date was Friday, February 27th. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a yield of 0.2%. First Majestic Silver's dividend payout ratio (DPR) is currently 8.57%.

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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