Public Employees Retirement System of Ohio Increases Stake in First Majestic Silver Corp. $AG

Public Employees Retirement System of Ohio grew its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,021 shares of the mining company’s stock after acquiring an additional 10,907 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in First Majestic Silver were worth $1,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AG. Parallel Advisors LLC raised its stake in shares of First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock valued at $25,000 after acquiring an additional 3,506 shares during the period. RFG Advisory LLC purchased a new stake in shares of First Majestic Silver in the first quarter valued at $527,000. Focus Financial Network Inc. purchased a new stake in shares of First Majestic Silver in the first quarter valued at $67,000. Tcfg Wealth Management LLC purchased a new stake in shares of First Majestic Silver in the first quarter valued at $86,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of First Majestic Silver in the first quarter valued at $79,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AG shares. National Bank Financial raised shares of First Majestic Silver to a “hold” rating in a research note on Thursday, June 12th. Wall Street Zen raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Friday. Scotiabank raised their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. HC Wainwright reaffirmed a “buy” rating and issued a $12.75 price target on shares of First Majestic Silver in a research note on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.63.

First Majestic Silver Stock Up 0.4%

NYSE:AG opened at $12.11 on Friday. First Majestic Silver Corp. has a fifty-two week low of $5.09 and a fifty-two week high of $13.00. The stock has a market capitalization of $5.92 billion, a P/E ratio of -1,209.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. The company’s 50-day simple moving average is $9.67 and its 200-day simple moving average is $7.99.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The firm had revenue of $264.20 million during the quarter, compared to the consensus estimate of $387.25 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. The firm’s quarterly revenue was up 94.0% on a year-over-year basis. On average, equities analysts anticipate that First Majestic Silver Corp. will post 0.54 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 Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.0048 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. First Majestic Silver’s dividend payout ratio (DPR) is -200.00%.

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.