Arrowstreet Capital Limited Partnership Decreases Stock Holdings in First Majestic Silver Corp. $AG

Arrowstreet Capital Limited Partnership reduced its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,967,831 shares of the mining company’s stock after selling 422,849 shares during the period. Arrowstreet Capital Limited Partnership owned 1.22% of First Majestic Silver worth $49,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AG. SBI Securities Co. Ltd. lifted its position in First Majestic Silver by 6.1% during the second quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company’s stock worth $185,000 after buying an additional 1,282 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of First Majestic Silver by 7.3% in the 2nd quarter. Harbour Investments Inc. now owns 23,696 shares of the mining company’s stock worth $196,000 after acquiring an additional 1,620 shares during the last quarter. CWM LLC raised its holdings in shares of First Majestic Silver by 57.2% during the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock worth $42,000 after acquiring an additional 1,860 shares during the period. Rathbones Group PLC raised its holdings in shares of First Majestic Silver by 3.3% during the 1st quarter. Rathbones Group PLC now owns 58,732 shares of the mining company’s stock worth $393,000 after acquiring an additional 1,880 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of First Majestic Silver by 9.2% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 23,703 shares of the mining company’s stock valued at $196,000 after acquiring an additional 2,001 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Trading Down 4.2%

Shares of NYSE AG opened at $15.03 on Friday. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.38 billion, a PE ratio of 107.36 and a beta of 0.84. First Majestic Silver Corp. has a twelve month low of $5.09 and a twelve month high of $16.28. The stock has a fifty day simple moving average of $12.90 and a 200-day simple moving average of $10.06.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). The firm had revenue of $285.10 million for the quarter, compared to analyst estimates of $429.78 million. First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.First Majestic Silver’s revenue was up 95.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. On average, equities analysts forecast 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, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.0052 per share. This represents a $0.02 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, November 14th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently 14.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AG shares. Scotiabank raised their price objective on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. HC Wainwright set a $17.50 price target on shares of First Majestic Silver in a research note on Friday, October 10th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a report on Tuesday, October 7th. National Bank Financial raised shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.33.

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.