Confluence Investment Management LLC Takes $1.51 Million Position in First Majestic Silver Corp. $AG

Confluence Investment Management LLC bought a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 90,903 shares of the mining company’s stock, valued at approximately $1,514,000.

Several other large investors have also added to or reduced their stakes in AG. Bogart Wealth LLC purchased a new position in First Majestic Silver during the 3rd quarter valued at $28,000. Sound Income Strategies LLC lifted its position in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock worth $37,000 after purchasing an additional 2,990 shares during the period. AdvisorNet Financial Inc lifted its position 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 period. Quarry LP bought a new stake in shares of First Majestic Silver during the 3rd quarter valued at about $57,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Majestic Silver by 12,500.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,040 shares of the mining company’s stock valued at $62,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

Wall Street Analysts Forecast Growth

AG has been the subject of a number of research reports. BMO Capital Markets reissued a “market perform” rating on shares of First Majestic Silver in a research note on Friday, January 16th. Scotiabank lifted their price objective on First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Wall Street Zen upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. HC Wainwright increased their target price on First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Zacks Research upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

First Majestic Silver Price Performance

AG opened at $18.26 on Friday. The firm has a market cap of $9.00 billion, a PE ratio of 52.17 and a beta of 0.76. The stock has a 50-day moving average price of $24.04 and a 200-day moving average price of $17.13. First Majestic Silver Corp. has a 1 year low of $5.18 and a 1 year high of $32.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. First Majestic Silver’s revenue for the quarter was up 169.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a dividend of $0.0083 per share. The ex-dividend date was Friday, February 27th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.2%. First Majestic Silver’s dividend payout ratio is currently 8.57%.

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.