First Majestic Silver Corp. $AG Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 9.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 437,608 shares of the mining company’s stock after buying an additional 37,302 shares during the quarter. CIBC Asset Management Inc owned approximately 0.09% of First Majestic Silver worth $5,367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bogart Wealth LLC acquired a new stake in First Majestic Silver during the third quarter worth about $28,000. Sound Income Strategies LLC grew its holdings in shares of First Majestic Silver by 29,900.0% during the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after purchasing an additional 2,990 shares during the last quarter. CWM LLC raised its position 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 purchasing an additional 1,860 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of First Majestic Silver by 33.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after purchasing an additional 971 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of First Majestic Silver by 7,831.6% in the 3rd quarter. Global Retirement Partners LLC now owns 6,028 shares of the mining company’s stock worth $74,000 after purchasing an additional 5,952 shares during the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Stock Performance

Shares of AG opened at $25.74 on Wednesday. The firm has a market capitalization of $12.65 billion, a PE ratio of 183.89 and a beta of 0.77. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $17.33 and a 200 day moving average price of $13.00. First Majestic Silver Corp. has a 52-week low of $5.09 and a 52-week high of $27.90.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The firm’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.0052 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. This is a positive change 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 currently 14.29%.

Analyst Ratings Changes

AG has been the subject of a number of recent research reports. National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Sunday, October 5th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. HC Wainwright lifted their price objective on shares of First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a research report on Friday, January 16th. Scotiabank boosted their target price on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.17.

First Majestic Silver Profile

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.