Sigma Planning Corp Acquires 35,114 Shares of First Majestic Silver Corp. $AG

Sigma Planning Corp increased its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 238.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,849 shares of the mining company’s stock after acquiring an additional 35,114 shares during the period. Sigma Planning Corp’s holdings in First Majestic Silver were worth $1,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AG. Tudor Investment Corp ET AL boosted its holdings in First Majestic Silver by 891.5% during the third quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock valued at $3,008,000 after purchasing an additional 220,056 shares in the last quarter. Confluence Investment Management LLC acquired a new position in First Majestic Silver during the fourth quarter worth $1,514,000. Vanguard Group Inc. lifted its holdings in shares of First Majestic Silver by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock valued at $316,914,000 after acquiring an additional 945,067 shares during the period. PKO Investment Management Joint Stock Co lifted its holdings in shares of First Majestic Silver by 50.5% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 238,500 shares of the mining company’s stock valued at $3,986,000 after acquiring an additional 80,000 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of First Majestic Silver by 194.6% in the 4th quarter. SG Americas Securities LLC now owns 131,267 shares of the mining company’s stock valued at $2,187,000 after purchasing an additional 86,715 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AG shares. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. HC Wainwright dropped their price objective on shares of First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a report on Friday, July 10th. Finally, Scotiabank cut their target price on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, First Majestic Silver has a consensus rating of “Moderate Buy” and an average target price of $23.50.

First Majestic Silver Trading Down 0.4%

AG opened at $15.82 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $7.80 billion, a PE ratio of 26.36 and a beta of 0.91. First Majestic Silver Corp. has a 1-year low of $7.74 and a 1-year high of $32.03. The firm has a 50-day moving average price of $18.49 and a two-hundred day moving average price of $20.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The company had revenue of $476.67 million for the quarter, compared to analyst estimates of $522.00 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. First Majestic Silver’s revenue for the quarter was up 95.3% on a year-over-year basis. As a group, equities analysts anticipate that First Majestic Silver Corp. will post 0.8 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were given a $0.0171 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 20th. This represents a $0.07 annualized dividend and a yield of 0.4%. First Majestic Silver’s dividend payout ratio is presently 11.67%.

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.