Mirae Asset Global Investments Co. Ltd. Has $28.43 Million Holdings in First Majestic Silver Corp. (NYSE:AG)

Mirae Asset Global Investments Co. Ltd. trimmed its position in First Majestic Silver Corp. (NYSE:AGFree Report) (TSE:FR) by 30.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,834,698 shares of the mining company’s stock after selling 2,150,982 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 1.68% of First Majestic Silver worth $28,428,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in First Majestic Silver in the 4th quarter worth about $43,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Majestic Silver in the 1st quarter valued at about $48,000. Capstone Investment Advisors LLC purchased a new stake in shares of First Majestic Silver in the fourth quarter worth approximately $69,000. AXQ Capital LP boosted its holdings in shares of First Majestic Silver by 63.2% during the third quarter. AXQ Capital LP now owns 17,300 shares of the mining company’s stock worth $89,000 after purchasing an additional 6,700 shares during the period. Finally, Capital Management Associates Inc purchased a new position in First Majestic Silver during the fourth quarter valued at approximately $92,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AG shares. Scotiabank increased their target price on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research note on Thursday, May 9th.

Check Out Our Latest Stock Analysis on First Majestic Silver

First Majestic Silver Trading Up 2.7 %

NYSE:AG opened at $6.40 on Friday. The stock’s 50 day moving average price is $6.73 and its 200 day moving average price is $6.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.33. First Majestic Silver Corp. has a 52 week low of $4.17 and a 52 week high of $8.44.

First Majestic Silver (NYSE:AGGet Free Report) (TSE:FR) last announced its quarterly earnings results on Wednesday, May 8th. The mining company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $106.01 million for the quarter. First Majestic Silver had a negative return on equity of 3.28% and a negative net margin of 9.18%. On average, analysts forecast that First Majestic Silver Corp. will post -0.03 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were issued a dividend of $0.004 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.02 annualized dividend and a yield of 0.25%. First Majestic Silver’s dividend payout ratio (DPR) is currently -6.25%.

First Majestic Silver Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for First Majestic Silver (NYSE:AG)

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