Seven Eight Capital LP Takes $1.03 Million Position in First Majestic Silver Corp. (NYSE:AG)

Seven Eight Capital LP purchased a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 173,107 shares of the mining company’s stock, valued at approximately $1,025,000. Seven Eight Capital LP owned about 0.06% of First Majestic Silver as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AG. BNP Paribas Financial Markets lifted its position in First Majestic Silver by 108.7% in the fourth quarter. BNP Paribas Financial Markets now owns 444,848 shares of the mining company’s stock valued at $2,736,000 after purchasing an additional 231,690 shares during the period. Trexquant Investment LP lifted its holdings in shares of First Majestic Silver by 1.8% in the 4th quarter. Trexquant Investment LP now owns 178,151 shares of the mining company’s stock valued at $1,096,000 after buying an additional 3,069 shares during the period. Aigen Investment Management LP purchased a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $118,000. TD Asset Management Inc grew its holdings in First Majestic Silver by 2.0% during the fourth quarter. TD Asset Management Inc now owns 757,732 shares of the mining company’s stock worth $4,672,000 after acquiring an additional 14,848 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in First Majestic Silver in the fourth quarter worth $69,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Price Performance

Shares of NYSE:AG opened at $6.19 on Friday. First Majestic Silver Corp. has a one year low of $4.17 and a one year high of $8.44. The stock has a market cap of $1.80 billion, a PE ratio of -38.69 and a beta of 1.35. The business’s fifty day moving average price is $5.64 and its two-hundred day moving average price is $6.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $136.20 million for the quarter, compared to analysts’ expectations of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) EPS. On average, analysts forecast that First Majestic Silver Corp. will post -0.11 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.0046 per share. The ex-dividend date was Friday, August 16th. This represents a $0.02 annualized dividend and a yield of 0.30%. First Majestic Silver’s dividend payout ratio (DPR) is presently -6.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AG shares. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th. HC Wainwright reissued a “buy” rating and issued a $8.50 price objective on shares of First Majestic Silver in a research note on Friday, September 6th.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.