Northwest & Ethical Investments L.P. Increases Holdings in First Majestic Silver Corp. (NYSE:AG)

Northwest & Ethical Investments L.P. increased its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 23.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,419 shares of the mining company’s stock after buying an additional 4,009 shares during the period. Northwest & Ethical Investments L.P.’s holdings in First Majestic Silver were worth $118,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in First Majestic Silver by 805.4% in the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after acquiring an additional 4,591 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of First Majestic Silver in the fourth quarter worth approximately $55,000. Y Intercept Hong Kong Ltd purchased a new stake in First Majestic Silver in the third quarter valued at approximately $70,000. Kingswood Wealth Advisors LLC bought a new stake in First Majestic Silver during the fourth quarter valued at approximately $82,000. Finally, Fiduciary Family Office LLC purchased a new position in First Majestic Silver in the 4th quarter worth approximately $86,000. Institutional investors own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AG shares. Scotiabank reduced their target price on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a research report on Friday, February 21st. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, TD Securities upgraded shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.50.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $6.94 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. First Majestic Silver Corp. has a 1 year low of $4.43 and a 1 year high of $8.44. The company’s 50-day moving average is $5.85 and its 200 day moving average is $6.11. The stock has a market capitalization of $3.36 billion, a P/E ratio of -19.84 and a beta of 1.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. On average, sell-side 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 given a $0.0057 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, February 28th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently -5.71%.

About First Majestic Silver

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.