First Majestic Silver Corp. $AG Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. grew its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 16.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,350 shares of the mining company’s stock after purchasing an additional 4,905 shares during the period. Moors & Cabot Inc.’s holdings in First Majestic Silver were worth $284,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AG. Y Intercept Hong Kong Ltd lifted its stake in shares of First Majestic Silver by 650.6% in the second quarter. Y Intercept Hong Kong Ltd now owns 818,442 shares of the mining company’s stock valued at $6,769,000 after purchasing an additional 709,403 shares during the period. PKO Investment Management Joint Stock Co increased its holdings in First Majestic Silver by 20.5% in the second quarter. PKO Investment Management Joint Stock Co now owns 158,500 shares of the mining company’s stock valued at $1,306,000 after buying an additional 27,000 shares in the last quarter. Cardinal Point Capital Management ULC purchased a new position in First Majestic Silver in the second quarter valued at about $185,000. D.A. Davidson & CO. lifted its position in shares of First Majestic Silver by 12.8% during the 2nd quarter. D.A. Davidson & CO. now owns 75,045 shares of the mining company’s stock valued at $621,000 after acquiring an additional 8,509 shares during the period. Finally, Mountain Capital Investment Advisors Inc. boosted its stake in shares of First Majestic Silver by 19.7% during the 2nd quarter. Mountain Capital Investment Advisors Inc. now owns 23,735 shares of the mining company’s stock worth $198,000 after acquiring an additional 3,912 shares in the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Up 4.5%

Shares of NYSE:AG opened at $11.39 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $5.58 billion, a P/E ratio of -1,137.76 and a beta of 0.79. First Majestic Silver Corp. has a 52-week low of $5.09 and a 52-week high of $15.69. The stock’s fifty day simple moving average is $11.85 and its 200-day simple moving average is $9.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $429.78 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 95.3% compared to the same quarter last year. As a group, equities research 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.0052 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date is Friday, November 14th. First Majestic Silver’s dividend payout ratio (DPR) is 14.29%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AG. TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, October 8th. HC Wainwright set a $17.50 target price on First Majestic Silver in a report on Friday, October 10th. Scotiabank raised their price target on First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. National Bankshares set a $22.00 price target on First Majestic Silver and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

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.