Blue Trust Inc. Grows Position in First Majestic Silver Corp. (NYSE:AG)

Blue Trust Inc. increased its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 77.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,166 shares of the mining company’s stock after purchasing an additional 2,253 shares during the quarter. Blue Trust Inc.’s holdings in First Majestic Silver were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of First Majestic Silver in the 1st quarter valued at approximately $62,000. Dark Forest Capital Management LP purchased a new position in shares of First Majestic Silver in the 2nd quarter valued at approximately $70,000. Creative Planning bought a new position in First Majestic Silver during the 3rd quarter valued at approximately $72,000. International Assets Investment Management LLC increased its position in First Majestic Silver by 39.5% during the 2nd quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock valued at $83,000 after buying an additional 3,960 shares in the last quarter. Finally, Oxbow Advisors LLC bought a new position in First Majestic Silver during the 1st quarter valued at approximately $111,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AG shares. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price objective on shares of First Majestic Silver in a research report on Friday, October 18th.

First Majestic Silver Stock Performance

AG stock opened at $7.18 on Friday. The business has a 50 day moving average of $6.31 and a 200 day moving average of $6.37. First Majestic Silver Corp. has a twelve month low of $4.17 and a twelve month high of $8.44. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results 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 business had revenue of $136.20 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. Analysts predict that First Majestic Silver Corp. will post -0.13 EPS for the current fiscal year.

First Majestic Silver Profile

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.