Bank of New York Mellon Corp Acquires Shares of 12,508 First Majestic Silver Corp. (NYSE:AG)

Bank of New York Mellon Corp acquired a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,508 shares of the mining company’s stock, valued at approximately $84,000.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of First Majestic Silver by 1,221.6% during the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,506 shares in the last quarter. Bank of Nova Scotia purchased a new position in First Majestic Silver during the fourth quarter valued at $57,000. Captrust Financial Advisors purchased a new position in First Majestic Silver during the fourth quarter valued at $58,000. Focus Financial Network Inc. bought a new stake in shares of First Majestic Silver during the 1st quarter valued at $67,000. Finally, Littlejohn Financial Services Inc. purchased a new stake in shares of First Majestic Silver in the 1st quarter worth about $68,000. 27.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AG has been the topic of a number of recent research reports. National Bank Financial raised First Majestic Silver to a “hold” rating in a research note on Thursday, June 12th. HC Wainwright upped their price target on shares of First Majestic Silver from $11.50 to $12.75 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Finally, Scotiabank raised their price objective on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 9th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Majestic Silver presently has an average rating of “Hold” and an average target price of $9.63.

First Majestic Silver Trading Up 0.5%

AG stock opened at $8.39 on Thursday. The firm has a market cap of $4.09 billion, a PE ratio of -28.93 and a beta of 0.72. The firm has a fifty day moving average price of $8.24 and a 200 day moving average price of $6.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19. First Majestic Silver Corp. has a fifty-two week low of $4.59 and a fifty-two week high of $9.48.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $241.12 million for the quarter, compared to analysts’ expectations of $358.65 million. First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. Sell-side analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a $0.0045 dividend. This represents a yield of 32.0%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver’s dividend payout ratio is -6.90%.

First Majestic Silver 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.