Oxbow Advisors LLC Purchases New Shares in First Majestic Silver Corp. $AG

Oxbow Advisors LLC acquired a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 40,472 shares of the mining company’s stock, valued at approximately $686,000.

A number of other large investors have also modified their holdings of AG. Royal Bank of Canada grew its position in shares of First Majestic Silver by 77.4% during the 1st quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock valued at $4,042,000 after acquiring an additional 263,688 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of First Majestic Silver by 355.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock valued at $7,985,000 after purchasing an additional 931,690 shares in the last quarter. Geode Capital Management LLC raised its holdings in First Majestic Silver by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock worth $1,994,000 after purchasing an additional 26,553 shares during the period. Creative Planning raised its holdings in First Majestic Silver by 25.3% in the 2nd quarter. Creative Planning now owns 28,837 shares of the mining company’s stock worth $238,000 after purchasing an additional 5,828 shares during the period. Finally, Franklin Resources Inc. boosted its position in First Majestic Silver by 12.8% during the second quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock worth $215,000 after purchasing an additional 2,936 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Down 5.5%

AG opened at $18.49 on Wednesday. The company has a market cap of $9.11 billion, a PE ratio of 26.04 and a beta of 0.94. First Majestic Silver Corp. has a twelve month low of $8.34 and a twelve month high of $32.03. The company has a 50-day moving average price of $17.16 and a 200 day moving average price of $20.38. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 57.3% on a year-over-year basis. Sell-side analysts expect that First Majestic Silver Corp. will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.0152 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 14th. First Majestic Silver’s dividend payout ratio (DPR) is 8.45%.

Wall Street Analyst Weigh In

Several analysts have commented on AG shares. ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Weiss Ratings downgraded First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright increased their target price 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, Scotiabank dropped their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average 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.