Allworth Financial LP Raises Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

Allworth Financial LP grew its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 805.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,161 shares of the mining company’s stock after buying an additional 4,591 shares during the quarter. Allworth Financial LP’s holdings in First Majestic Silver were worth $29,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of First Majestic Silver by 2.7% in the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after acquiring an additional 764,790 shares during the period. Tidal Investments LLC boosted its stake in shares of First Majestic Silver by 1.8% in the third quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock worth $34,684,000 after acquiring an additional 99,640 shares during the period. National Bank of Canada FI boosted its stake in shares of First Majestic Silver by 18.0% in the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after acquiring an additional 104,092 shares during the period. Raymond James & Associates boosted its stake in shares of First Majestic Silver by 17.7% in the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock worth $3,349,000 after acquiring an additional 83,867 shares during the period. Finally, Realta Investment Advisors boosted its stake in shares of First Majestic Silver by 16.8% in the fourth quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock worth $2,882,000 after acquiring an additional 71,456 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

AG has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, February 21st. Scotiabank dropped their price target on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. Finally, StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $5.71 on Thursday. The stock has a 50 day moving average of $5.65 and a 200 day moving average of $6.03. First Majestic Silver Corp. has a 12 month low of $4.37 and a 12 month high of $8.44. The firm has a market cap of $1.78 billion, a PE ratio of -16.30 and a beta of 1.24. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million for the quarter, compared to the consensus estimate of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. On average, research analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.0057 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.40%. First Majestic Silver’s payout ratio is -5.71%.

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.