UBS Group AG Sells 132,122 Shares of First Majestic Silver Corp. (NYSE:AG)

UBS Group AG trimmed its position in First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) by 33.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 265,379 shares of the mining company’s stock after selling 132,122 shares during the period. UBS Group AG owned about 0.10% of First Majestic Silver worth $2,023,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of First Majestic Silver by 5,383.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock worth $63,000 after purchasing an additional 4,737 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of First Majestic Silver by 52.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 46,051 shares of the mining company’s stock worth $606,000 after purchasing an additional 15,787 shares during the last quarter. Citigroup Inc. bought a new position in shares of First Majestic Silver in the 1st quarter worth $87,000. Dimensional Fund Advisors LP boosted its position in shares of First Majestic Silver by 127.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company’s stock worth $17,408,000 after purchasing an additional 740,867 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of First Majestic Silver in the 1st quarter worth $142,000. 30.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. HC Wainwright reduced their price target on First Majestic Silver from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Friday, January 20th. National Bank Financial dropped their price objective on First Majestic Silver from C$14.50 to C$11.00 in a research note on Tuesday, February 14th. BMO Capital Markets dropped their price objective on First Majestic Silver from C$10.50 to C$9.00 in a research note on Friday, January 20th. Finally, TD Securities dropped their price objective on First Majestic Silver from C$12.00 to C$11.00 in a research note on Monday, February 27th.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $6.15 on Wednesday. The company has a market capitalization of $1.69 billion, a PE ratio of -14.30 and a beta of 1.00. First Majestic Silver Corp. has a 12 month low of $5.90 and a 12 month high of $14.59. The company has a current ratio of 2.21, a quick ratio of 1.83 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $7.72 and its 200 day simple moving average is $8.13.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last released its quarterly earnings results on Thursday, February 23rd. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). First Majestic Silver had a negative net margin of 18.31% and a negative return on equity of 3.73%. The firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same period in the prior year, the business earned $0.02 EPS. On average, research analysts predict that First Majestic Silver Corp. will post 0.11 EPS for the current year.

First Majestic Silver Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a $0.005 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Thursday, March 9th. First Majestic Silver’s dividend payout ratio is -4.65%.

First Majestic Silver Company 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.