Tudor Investment Corp ET AL Grows Stock Position in First Majestic Silver Corp. $AG

Key Points

• Tudor Investment Corp ET AL boosted its stake in First Majestic Silver by 891.5% in Q3, buying an additional 220,056 shares to hold 244,740 shares valued at about $3,008,000.
• Analyst sentiment is positive with a consensus rating of "Moderate Buy" and a consensus target price of $25, including upgrades from BMO and a $30 target from HC Wainwright.
• First Majestic reported $0.30 EPS (beating estimates) and revenue of $463.9M (below expectations) but up 169.2% YoY, and it raised its quarterly dividend to $0.0083 per share (≈0.2% yield).

Tudor Investment Corp ET AL increased its holdings in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 891.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,740 shares of the mining company's stock after buying an additional 220,056 shares during the quarter. Tudor Investment Corp ET AL's holdings in First Majestic Silver were worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in First Majestic Silver during the third quarter worth about $28,000. Sound Income Strategies LLC raised its holdings in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company's stock worth $37,000 after purchasing an additional 2,990 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of First Majestic Silver by 33.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company's stock worth $48,000 after purchasing an additional 971 shares during the period. Quarry LP purchased a new position in shares of First Majestic Silver in the 3rd quarter worth about $57,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Majestic Silver by 12,500.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,040 shares of the mining company's stock worth $62,000 after purchasing an additional 5,000 shares during the period. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AG has been the topic of a number of research reports. BMO Capital Markets upgraded First Majestic Silver from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 24th. Zacks Research downgraded First Majestic Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Scotiabank raised their price objective 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. HC Wainwright raised their price objective on First Majestic Silver to $30.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Finally, Wall Street Zen upgraded First Majestic Silver from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $20.59 on Friday. The company has a market cap of $10.15 billion, a P/E ratio of 58.84 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.60. First Majestic Silver Corp. has a one year low of $5.49 and a one year high of $32.03. The business's 50-day simple moving average is $23.45 and its 200 day simple moving average is $18.25.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The company's revenue was up 169.2% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

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

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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