Abbington Investment Group Purchases Shares of 171,640 First Majestic Silver Corp. $AG

Abbington Investment Group acquired a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 171,640 shares of the mining company’s stock, valued at approximately $2,109,000. First Majestic Silver makes up 1.8% of Abbington Investment Group’s portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of First Majestic Silver by 74.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock worth $112,880,000 after purchasing an additional 5,821,751 shares during the last quarter. Jump Financial LLC increased its stake in First Majestic Silver by 10,224.3% in the 2nd quarter. Jump Financial LLC now owns 2,438,392 shares of the mining company’s stock worth $20,166,000 after acquiring an additional 2,414,774 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of First Majestic Silver by 30.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 9,013,216 shares of the mining company’s stock worth $74,539,000 after acquiring an additional 2,126,803 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of First Majestic Silver by 964.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,334,147 shares of the mining company’s stock valued at $19,303,000 after acquiring an additional 2,114,874 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of First Majestic Silver by 355.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock valued at $7,985,000 after purchasing an additional 931,690 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AG. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research report on Tuesday, October 7th. Scotiabank increased their price target on shares of First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. National Bankshares set a $22.00 price objective on First Majestic Silver and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Majestic Silver presently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Price Performance

Shares of AG stock opened at $17.89 on Friday. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 127.77 and a beta of 0.77. First Majestic Silver Corp. has a twelve month low of $5.09 and a twelve month high of $18.73. 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 fifty day simple moving average of $14.65 and a two-hundred day simple moving average of $11.69.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced 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). First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The company had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. During the same period last year, the business posted ($0.09) EPS. The firm’s revenue was up 95.3% compared to the same quarter last year. On average, analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a $0.0052 dividend. This represents a $0.02 annualized dividend and a yield of 0.1%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 14th. First Majestic Silver’s payout ratio is presently 14.29%.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.