Entropy Technologies LP Purchases Shares of 120,702 First Majestic Silver Corp. $AG

Entropy Technologies LP acquired a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 120,702 shares of the mining company’s stock, valued at approximately $2,593,000.

Other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its position in First Majestic Silver by 77.4% in the first quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock valued at $4,042,000 after buying an additional 263,688 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First Majestic Silver by 355.7% during the 1st 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 worth $7,985,000 after buying an additional 931,690 shares during the last quarter. Geode Capital Management LLC raised its position in First Majestic Silver by 12.4% during the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock worth $1,994,000 after buying an additional 26,553 shares during the last quarter. Creative Planning lifted its stake in First Majestic Silver by 25.3% during the 2nd quarter. Creative Planning now owns 28,837 shares of the mining company’s stock valued at $238,000 after acquiring an additional 5,828 shares during the period. Finally, Franklin Resources Inc. lifted its stake in First Majestic Silver by 12.8% during the 2nd quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock valued at $215,000 after acquiring an additional 2,936 shares during the period. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AG. Weiss Ratings downgraded shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. HC Wainwright lowered their price target on shares of First Majestic Silver from $30.75 to $26.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Scotiabank cut their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

First Majestic Silver Stock Down 0.0%

AG opened at $16.30 on Monday. The company has a fifty day moving average of $17.85 and a two-hundred day moving average of $20.89. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 27.18 and a beta of 0.91. First Majestic Silver Corp. has a fifty-two week low of $7.74 and a fifty-two week high of $32.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The firm had revenue of $476.67 million for the quarter, compared to analysts’ expectations of $522.00 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s revenue was up 95.3% compared to the same quarter last year. On average, research analysts expect that First Majestic Silver Corp. will post 0.8 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were given a $0.0171 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 20th. First Majestic Silver’s dividend payout ratio (DPR) is presently 11.67%.

First Majestic Silver Company 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.