First Majestic Silver Corp. (NYSE:AG) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its holdings in First Majestic Silver Corp. by 45.1%, now owning 127,140 shares valued at approximately $850,000.
• The company's stock recently traded at $8.39, and analysts have a price target average of $9.63, with ratings indicating a general "Hold" status.
• First Majestic Silver announced a dividend of $0.0045 per share, which reflects a dividend yield of 32.0%, despite a negative payout ratio of -6.90%.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 45.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,140 shares of the mining company's stock after purchasing an additional 39,488 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in First Majestic Silver were worth $850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of First Majestic Silver by 1,221.6% during 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 last quarter. Bank of Nova Scotia acquired a new position in shares of First Majestic Silver during the 4th quarter valued at about $57,000. Captrust Financial Advisors purchased a new stake in shares of First Majestic Silver in the fourth quarter valued at about $58,000. Focus Financial Network Inc. acquired a new stake in First Majestic Silver during the first quarter worth about $67,000. Finally, Littlejohn Financial Services Inc. purchased a new position in First Majestic Silver during the first quarter worth about $68,000. Hedge funds and other institutional investors own 27.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AG. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Scotiabank raised their target price on First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Finally, HC Wainwright upped their price target on First Majestic Silver from $11.50 to $12.75 and gave the company a "buy" rating in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $9.63.

First Majestic Silver Stock Up 4.2%

NYSE AG traded up $0.36 during trading hours on Thursday, hitting $8.74. 18,639,327 shares of the company were exchanged, compared to its average volume of 21,154,570. The company has a quick ratio of 2.74, a current ratio of 3.19 and a debt-to-equity ratio of 0.08. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -30.12 and a beta of 0.72. The company has a 50 day moving average of $8.29 and a two-hundred day moving average of $6.80. First Majestic Silver Corp. has a 52-week low of $4.59 and a 52-week high of $9.48.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The firm had revenue of $241.12 million during the quarter, compared to analyst estimates of $358.65 million. During the same period last year, the business earned ($0.05) EPS. The firm's revenue was up 41.6% compared to the same quarter last year. Equities research analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $0.0045 per share. This represents a yield of 32.0%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver's payout ratio is -6.90%.

First Majestic Silver Company 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.