Connor Clark & Lunn Investment Management Ltd. Has $9.52 Million Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) by 291.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,142,125 shares of the mining company’s stock after purchasing an additional 850,700 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.42% of First Majestic Silver worth $9,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in First Majestic Silver by 5,383.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock worth $63,000 after buying an additional 4,737 shares during the period. Citigroup Inc. acquired a new position in First Majestic Silver during the 1st quarter worth approximately $87,000. Captrust Financial Advisors raised its stake in shares of First Majestic Silver by 589.5% in the second quarter. Captrust Financial Advisors now owns 8,515 shares of the mining company’s stock worth $61,000 after purchasing an additional 7,280 shares during the last quarter. Ethos Financial Group LLC purchased a new stake in shares of First Majestic Silver in the fourth quarter worth approximately $84,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of First Majestic Silver in the third quarter worth approximately $81,000. 30.40% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Stock Performance

AG stock opened at $5.76 on Friday. The business has a 50 day moving average of $6.89 and a 200-day moving average of $7.72. First Majestic Silver Corp. has a 12-month low of $5.53 and a 12-month high of $9.81. The firm has a market cap of $1.60 billion, a PE ratio of -6.94 and a beta of 1.06. The company has a quick ratio of 1.81, a current ratio of 2.31 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last posted its quarterly earnings results on Thursday, February 23rd. The mining company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). First Majestic Silver had a negative return on equity of 3.28% and a negative net margin of 35.59%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, sell-side analysts expect that First Majestic Silver Corp. will post -0.02 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Thursday, May 18th will be issued a $0.006 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Wednesday, May 17th. First Majestic Silver’s dividend payout ratio (DPR) is presently -2.41%.

Wall Street Analysts Forecast Growth

AG has been the subject of several analyst reports. StockNews.com initiated coverage on First Majestic Silver in a research note on Thursday, May 18th. They issued a “sell” rating for the company. HC Wainwright lowered their price objective on First Majestic Silver from $11.00 to $10.00 in a research note on Friday, May 5th. TD Securities lowered their price objective on First Majestic Silver from C$11.00 to C$9.00 in a research note on Tuesday, March 21st. Finally, National Bank Financial lowered their price objective on First Majestic Silver from C$14.50 to C$11.00 in a research note on Tuesday, February 14th.

First Majestic Silver Profile

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First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including the La Encantada Silver Mine, La Parrilla Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, Del Toro Silver Mine, Santa Elena Silver & Gold Mine, and San Dimas Silver & Gold Mine.