International Assets Investment Management LLC Lowers Position in First Majestic Silver Corp. (NYSE:AG)

International Assets Investment Management LLC lessened its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 58.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 10,035 shares of the mining company’s stock after selling 14,055 shares during the quarter. International Assets Investment Management LLC’s holdings in First Majestic Silver were worth $62,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AG. Toronto Dominion Bank grew its stake in First Majestic Silver by 5.8% in the third quarter. Toronto Dominion Bank now owns 71,753 shares of the mining company’s stock worth $368,000 after purchasing an additional 3,924 shares during the period. Quadrature Capital Ltd grew its stake in First Majestic Silver by 22.5% in the third quarter. Quadrature Capital Ltd now owns 591,700 shares of the mining company’s stock worth $3,055,000 after purchasing an additional 108,600 shares during the period. AXQ Capital LP grew its stake in First Majestic Silver by 63.2% in the third quarter. AXQ Capital LP now owns 17,300 shares of the mining company’s stock worth $89,000 after purchasing an additional 6,700 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of First Majestic Silver by 46.7% in the third quarter. Moneta Group Investment Advisors LLC now owns 81,588 shares of the mining company’s stock worth $419,000 after acquiring an additional 25,973 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of First Majestic Silver by 17.1% in the third quarter. Public Sector Pension Investment Board now owns 619,920 shares of the mining company’s stock worth $3,191,000 after acquiring an additional 90,526 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Up 0.2 %

Shares of AG opened at $5.95 on Friday. The business’s 50 day moving average is $6.82 and its 200 day moving average is $6.00. The company has a market capitalization of $1.73 billion, a PE ratio of -37.19 and a beta of 1.43. First Majestic Silver Corp. has a 12-month low of $4.17 and a 12-month high of $8.44. The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Wednesday, May 8th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $106.01 million for the quarter. First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. Research analysts expect that First Majestic Silver Corp. will post -0.03 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a $0.004 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Thursday, May 16th. First Majestic Silver’s dividend payout ratio (DPR) is -6.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AG shares. HC Wainwright reissued a “buy” rating and issued a $8.50 target price on shares of First Majestic Silver in a research note on Thursday, May 9th. Scotiabank increased their price objective on First Majestic Silver from $5.50 to $6.50 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd.

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.