Vanguard Group Inc. Has $96.77 Million Position in First Majestic Silver Corp. $AG

Key Points

• Vanguard Group Inc. increased its stake in First Majestic Silver Corp. by 26.7% to own approximately 14.5 million shares, valued at $96.8 million, as reported in its latest 13F filing.
• The mining company reported a loss of $0.04 per share in its latest quarterly earnings, missing estimates, while revenue rose 94% year-over-year but fell short of expectations.
• Vanguard's increased investment comes amid a backdrop of other institutional investors also boosting their stakes, with hedge funds owning approximately 27.16% of the company.

Vanguard Group Inc. raised its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 26.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,475,305 shares of the mining company's stock after acquiring an additional 3,051,614 shares during the period. Vanguard Group Inc. owned approximately 2.99% of First Majestic Silver worth $96,768,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in shares of First Majestic Silver by 135.2% in the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock worth $74,647,000 after purchasing an additional 7,816,177 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of First Majestic Silver in the first quarter valued at about $47,656,000. Jupiter Asset Management Ltd. acquired a new stake in First Majestic Silver during the first quarter worth about $46,070,000. Two Sigma Investments LP boosted its stake in shares of First Majestic Silver by 46.8% in the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company's stock valued at $24,463,000 after purchasing an additional 1,420,937 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in First Majestic Silver by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company's stock worth $19,060,000 after acquiring an additional 121,892 shares during the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Trading Up 0.1%

Shares of AG stock traded up $0.01 on Wednesday, reaching $9.02. 6,416,976 shares of the stock were exchanged, compared to its average volume of 20,667,600. The stock has a 50 day moving average price of $8.52 and a 200 day moving average price of $7.09. The stock has a market cap of $4.39 billion, a PE ratio of -897.60 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 2.84. First Majestic Silver Corp. has a one year low of $4.59 and a one year high of $9.48.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share (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 business had revenue of $264.20 million during the quarter, compared to analyst estimates of $387.25 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The firm's revenue was up 94.0% on a year-over-year basis. Equities research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.0048 dividend. The ex-dividend date 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 presently -100.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AG shares. HC Wainwright reiterated a "buy" rating and set a $12.75 price target on shares of First Majestic Silver in a research note on Friday, August 15th. Scotiabank upped their price target 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 report on Thursday, June 12th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.