First Majestic Silver Corp. $AG Stock Position Raised by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 142.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,422 shares of the mining company’s stock after buying an additional 29,635 shares during the period. TD Waterhouse Canada Inc.’s holdings in First Majestic Silver were worth $859,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AG. Wealthspire Retirement LLC raised its position in shares of First Majestic Silver by 1.4% in the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock valued at $541,000 after purchasing an additional 450 shares during the period. M Holdings Securities Inc. grew its stake in First Majestic Silver by 3.1% in the 2nd quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company’s stock valued at $285,000 after buying an additional 515 shares during the last quarter. Parallel Advisors LLC grew its stake in First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after buying an additional 560 shares during the last quarter. Harbour Investments Inc. raised its holdings in First Majestic Silver by 2.9% in the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock worth $411,000 after acquiring an additional 697 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its position in First Majestic Silver by 3.0% during the 4th quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock worth $416,000 after acquiring an additional 718 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $21.19 on Thursday. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 29.84 and a beta of 1.00. The firm’s 50-day moving average price is $18.32 and its two-hundred day moving average price is $20.20. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a 1-year low of $9.06 and a 1-year high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 57.3% compared to the same quarter last year. On average, equities analysts predict that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 14th. First Majestic Silver’s dividend payout ratio is currently 8.45%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AG shares. Weiss Ratings reissued a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Scotiabank dropped their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. HC Wainwright increased their price objective on First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, First Majestic Silver presently has a consensus rating of “Moderate Buy” and an average price target of $23.83.

First Majestic Silver Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.