Raymond James & Associates Acquires 83,867 Shares of First Majestic Silver Corp. (NYSE:AG)

Raymond James & Associates boosted its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 17.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 558,096 shares of the mining company’s stock after acquiring an additional 83,867 shares during the quarter. Raymond James & Associates owned 0.19% of First Majestic Silver worth $3,349,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after buying an additional 2,253 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of First Majestic Silver during the 1st quarter worth approximately $62,000. Dark Forest Capital Management LP bought a new position in shares of First Majestic Silver during the 2nd quarter worth approximately $70,000. Creative Planning bought a new position in shares of First Majestic Silver during the 3rd quarter worth approximately $72,000. Finally, International Assets Investment Management LLC lifted its position in shares of 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 worth $83,000 after buying an additional 3,960 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

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

First Majestic Silver Trading Down 2.7 %

NYSE:AG opened at $7.18 on Monday. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.17 billion, a PE ratio of -26.59 and a beta of 1.31. The firm’s 50 day moving average is $6.31 and its 200 day moving average is $6.36. First Majestic Silver Corp. has a 12 month low of $4.17 and a 12 month high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. The business had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $129.74 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. Sell-side analysts expect that First Majestic Silver Corp. will post -0.13 earnings per share for the current year.

First Majestic Silver Company 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.