Arrowstreet Capital Limited Partnership Sells 2,875,324 Shares of First Majestic Silver Corp. $AG

Arrowstreet Capital Limited Partnership trimmed its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,166,588 shares of the mining company’s stock after selling 2,875,324 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.47% of First Majestic Silver worth $261,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new stake in shares of First Majestic Silver in the fourth quarter valued at $25,000. Harbor Investment Advisory LLC purchased a new stake in First Majestic Silver during the first quarter valued at about $32,000. EFG International AG bought a new position in First Majestic Silver during the fourth quarter worth about $25,000. PNC Financial Services Group Inc. boosted its position in First Majestic Silver by 184.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after purchasing an additional 978 shares during the period. Finally, Spire Wealth Management bought a new position in First Majestic Silver during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AG. Scotiabank lowered their price target on shares of 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. Zacks Research cut shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Weiss Ratings lowered First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.50.

First Majestic Silver Stock Performance

Shares of AG opened at $16.30 on Friday. First Majestic Silver Corp. has a 12-month low of $7.74 and a 12-month high of $32.03. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. The company has a market cap of $8.04 billion, a PE ratio of 27.18 and a beta of 0.91. The stock has a 50-day moving average price of $17.85 and a 200-day moving average price of $20.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $476.67 million during the quarter, compared to the consensus estimate of $522.00 million. First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The firm’s revenue for the quarter was up 95.3% on a year-over-year basis. During the same quarter last year, the company posted $0.05 earnings per share. As a group, equities analysts forecast that First Majestic Silver Corp. will post 0.8 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

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

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.