First Majestic Silver Corp. $AG Shares Bought by Abbington Investment Group

Abbington Investment Group grew its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 207,098 shares of the mining company’s stock after purchasing an additional 35,458 shares during the quarter. First Majestic Silver makes up about 2.4% of Abbington Investment Group’s portfolio, making the stock its 17th biggest holding. Abbington Investment Group’s holdings in First Majestic Silver were worth $3,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AG. Moors & Cabot Inc. boosted its position in First Majestic Silver by 2.8% during the third quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock worth $434,000 after acquiring an additional 945 shares during the last quarter. AdvisorNet Financial Inc boosted its position in First Majestic Silver by 33.2% during the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after acquiring an additional 971 shares during the last quarter. Signaturefd LLC boosted its position in First Majestic Silver by 4.7% during the third quarter. Signaturefd LLC now owns 22,275 shares of the mining company’s stock worth $274,000 after acquiring an additional 1,008 shares during the last quarter. Choreo LLC boosted its position in First Majestic Silver by 1.7% during the fourth quarter. Choreo LLC now owns 72,628 shares of the mining company’s stock worth $1,230,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Mariner LLC boosted its position in First Majestic Silver by 2.7% during the third quarter. Mariner LLC now owns 51,588 shares of the mining company’s stock worth $634,000 after acquiring an additional 1,366 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

AG has been the topic of a number of recent research reports. Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. HC Wainwright boosted their price target on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Wall Street Zen upgraded shares of First Majestic Silver from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.00.

First Majestic Silver Trading Up 3.7%

Shares of AG stock opened at $21.54 on Wednesday. The company’s 50-day moving average price is $23.45 and its 200-day moving average price is $18.48. The company has a current ratio of 2.60, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 61.54 and a beta of 0.97. First Majestic Silver Corp. has a twelve month low of $5.49 and a twelve month high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. The firm had revenue of $463.92 million for the quarter, compared to analysts’ expectations of $561.30 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s revenue was up 169.2% compared to the same quarter last year. As a group, equities analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $0.0083 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.03 annualized dividend 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.