Geode Capital Management LLC Boosts Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

Geode Capital Management LLC raised its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,901 shares of the mining company’s stock after buying an additional 12,171 shares during the period. Geode Capital Management LLC’s holdings in First Majestic Silver were worth $825,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in shares of First Majestic Silver by 2.7% during the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after purchasing an additional 764,790 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of First Majestic Silver in the 2nd quarter valued at $3,904,000. Barclays PLC purchased a new position in shares of First Majestic Silver in the 3rd quarter valued at $2,419,000. Quantbot Technologies LP purchased a new position in shares of First Majestic Silver in the 3rd quarter valued at $2,057,000. Finally, XTX Topco Ltd raised its stake in shares of First Majestic Silver by 1,510.1% in the 3rd quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock valued at $1,630,000 after acquiring an additional 254,870 shares during the period. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Stock Performance

First Majestic Silver stock opened at $5.84 on Friday. First Majestic Silver Corp. has a 12-month low of $4.17 and a 12-month high of $8.44. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -21.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45. The firm’s fifty day moving average price is $6.09 and its 200 day moving average price is $6.10.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The firm had revenue of $146.09 million for the quarter. On average, research analysts forecast that First Majestic Silver Corp. will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.0048 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is presently -3.70%.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research note on Friday.

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.