LPL Financial LLC Buys 285,488 Shares of First Majestic Silver Corp. (NYSE:AG)

LPL Financial LLC grew its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 92.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 592,683 shares of the mining company's stock after purchasing an additional 285,488 shares during the quarter. LPL Financial LLC owned about 0.19% of First Majestic Silver worth $3,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in AG. Toronto Dominion Bank increased its position in shares of First Majestic Silver by 6.7% during the third quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company's stock worth $176,000 after acquiring an additional 1,855 shares in the last quarter. CIBC Asset Management Inc increased its holdings in First Majestic Silver by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company's stock worth $2,030,000 after purchasing an additional 2,288 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of First Majestic Silver by 19.6% in the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock worth $94,000 after purchasing an additional 2,800 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of First Majestic Silver by 23.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 21,419 shares of the mining company's stock valued at $118,000 after purchasing an additional 4,009 shares in the last quarter. Finally, Euro Pacific Asset Management LLC boosted its position in shares of First Majestic Silver by 10.9% during the fourth quarter. Euro Pacific Asset Management LLC now owns 45,723 shares of the mining company's stock valued at $262,000 after buying an additional 4,512 shares during the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AG has been the topic of several recent analyst reports. StockNews.com upgraded First Majestic Silver from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. TD Securities upgraded First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. Scotiabank reissued a "sector perform" rating and issued a $6.00 price target on shares of First Majestic Silver in a report on Wednesday, April 2nd. National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, First Majestic Silver currently has a consensus rating of "Hold" and a consensus target price of $8.50.

First Majestic Silver Stock Performance

Shares of NYSE:AG traded down $0.17 during midday trading on Thursday, reaching $6.53. 4,384,532 shares of the company traded hands, compared to its average volume of 19,809,238. First Majestic Silver Corp. has a 12 month low of $4.43 and a 12 month high of $8.09. The firm's fifty day moving average price is $6.09 and its two-hundred day moving average price is $6.18. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -18.66 and a beta of 0.97.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. On average, equities analysts expect that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.0057 dividend. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.35%. First Majestic Silver's dividend payout ratio is presently -5.71%.

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.