Alliancebernstein L.P. Grows Stake in First Majestic Silver Corp. (NYSE:AG)

Alliancebernstein L.P. lifted its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,223 shares of the mining company’s stock after buying an additional 12,520 shares during the period. Alliancebernstein L.P.’s holdings in First Majestic Silver were worth $462,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AG. Allworth Financial LP boosted its position 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 valued at $29,000 after buying an additional 4,591 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in First Majestic Silver during the 4th quarter valued at approximately $55,000. Kingswood Wealth Advisors LLC purchased a new stake in First Majestic Silver during the 4th quarter worth approximately $82,000. Fiduciary Family Office LLC acquired a new position in shares of First Majestic Silver in the 4th quarter valued at approximately $86,000. Finally, Moors & Cabot Inc. boosted its stake in shares of First Majestic Silver by 19.6% during the 4th quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company’s stock valued at $94,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Down 2.8 %

NYSE:AG opened at $6.52 on Monday. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $6.13 and a 200-day moving average of $6.18. The firm has a market capitalization of $3.15 billion, a PE ratio of -18.61 and a beta of 0.97. First Majestic Silver Corp. has a 52 week low of $4.43 and a 52 week high of $8.09.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The company had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. Analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.0057 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.35%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. First Majestic Silver’s payout ratio is presently -5.71%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AG shares. Scotiabank reissued a “sector perform” rating and set a $6.00 price objective on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities upgraded First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. Finally, National Bankshares reissued a “sector perform” rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.50.

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.