119,850 Shares in First Majestic Silver Corp. $AG Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC purchased a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 119,850 shares of the mining company’s stock, valued at approximately $2,120,000.

Several other large investors have also recently made changes to their positions in AG. M Holdings Securities Inc. lifted its stake in First Majestic Silver by 3.1% during the second quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company’s stock worth $285,000 after purchasing an additional 515 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of First Majestic Silver by 36.4% during the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after buying an additional 560 shares during the period. AdvisorNet Financial Inc grew its stake in shares of First Majestic Silver by 13.2% in the first quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock valued at $148,000 after buying an additional 804 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock valued at $32,000 after buying an additional 978 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of First Majestic Silver in the first quarter valued at $32,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Trading Up 0.7%

AG opened at $16.09 on Thursday. First Majestic Silver Corp. has a 12 month low of $10.19 and a 12 month high of $32.03. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 22.67 and a beta of 0.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. The business has a fifty day moving average price of $18.94 and a 200 day moving average price of $18.82.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%. First Majestic Silver’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Sell-side analysts expect that First Majestic Silver Corp. will post 0.80 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 0.4%. This is a negative change from First Majestic Silver’s previous quarterly dividend of $0.0171. The ex-dividend date of this dividend was Friday, August 14th. First Majestic Silver’s dividend payout ratio is 8.45%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank decreased their target price on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Zacks Research cut First Majestic Silver from a “hold” rating to a “strong sell” rating in a report on Monday. HC Wainwright lowered their target price on First Majestic Silver from $27.00 to $25.50 and set a “buy” rating for the company in a report on Friday, October 9th. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, First Majestic Silver presently has a consensus rating of “Hold” and an average target price of $24.00.

About First Majestic Silver

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver and gold. The company operates producing mines in Mexico and the United States and sells silver bullion and related products through its in-house First Mint division.

First Majestic’s Mexican operations include the San Dimas Silver/Gold Mine in Durango, the Santa Elena Silver/Gold Mine in Sonora, and the La Encantada Silver Mine in Coahuila. The company also owns the Jerritt Canyon Gold Mine in Nevada, although operations there have been suspended while First Majestic evaluates its future.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its growth strategy on acquiring and developing precious-metals assets in the Americas.