Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

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 lifted its holdings in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 45.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,140 shares of the mining company's stock after buying 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.

Several other large investors have also made changes to their positions in the business. Franklin Resources Inc. raised its stake in First Majestic Silver by 8.3% in the 4th quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock valued at $128,000 after purchasing an additional 1,776 shares during the last quarter. Rathbones Group PLC grew its holdings in First Majestic Silver by 4.3% in the 4th quarter. Rathbones Group PLC now owns 56,852 shares of the mining company's stock valued at $312,000 after buying an additional 2,325 shares in the last quarter. Signaturefd LLC grew its holdings in First Majestic Silver by 16.0% in the 1st quarter. Signaturefd LLC now owns 24,377 shares of the mining company's stock valued at $163,000 after buying an additional 3,357 shares in the last quarter. Sigma Planning Corp grew its holdings in First Majestic Silver by 29.0% in the 1st quarter. Sigma Planning Corp now owns 15,030 shares of the mining company's stock valued at $101,000 after buying an additional 3,380 shares in the last quarter. Finally, Veracity Capital LLC grew its holdings in First Majestic Silver by 18.4% in the 1st quarter. Veracity Capital LLC now owns 22,078 shares of the mining company's stock valued at $148,000 after buying an additional 3,425 shares in the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

First Majestic Silver Trading Down 1.5%

Shares of NYSE AG traded down $0.13 during mid-day trading on Friday, reaching $8.60. 14,496,603 shares of the company's stock were exchanged, compared to its average volume of 15,785,859. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -29.65 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19. First Majestic Silver Corp. has a 52-week low of $4.59 and a 52-week high of $9.48. The company's 50-day moving average is $8.34 and its 200-day moving average is $6.82.

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

First Majestic Silver Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, May 30th. Investors 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 was Friday, May 16th. First Majestic Silver's dividend payout ratio (DPR) is -6.90%.

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.