Geode Capital Management LLC Grows Holdings in First Majestic Silver Corp. (NYSE:AG)

Geode Capital Management LLC raised its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,011 shares of the mining company’s stock after buying an additional 7,110 shares during the period. Geode Capital Management LLC’s holdings in First Majestic Silver were worth $799,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Allworth Financial LP lifted its position in First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after purchasing an additional 4,591 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of First Majestic Silver during the 4th quarter valued at $55,000. Kingswood Wealth Advisors LLC bought a new stake in shares of First Majestic Silver during the 4th quarter worth $82,000. Fiduciary Family Office LLC purchased a new position in First Majestic Silver in the fourth quarter worth $86,000. Finally, Moors & Cabot Inc. increased its stake in First Majestic Silver by 19.6% in the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company’s stock valued at $94,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

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

First Majestic Silver Stock Performance

Shares of AG stock opened at $5.89 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $6.24 and a 200-day moving average price of $6.18. First Majestic Silver Corp. has a 52 week low of $4.43 and a 52 week high of $8.09. The firm has a market capitalization of $2.85 billion, a PE ratio of -16.81 and a beta of 0.97.

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

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.0057 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.39%. This is a boost 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 dividend payout ratio is currently -5.71%.

First Majestic Silver Company Profile

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.