First Majestic Silver Corp. (NYSE:AG) Short Interest Up 48.2% in September

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 24,860,000 shares, a growth of 48.2% from the August 31st total of 16,780,000 shares. Based on an average trading volume of 7,250,000 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On First Majestic Silver

Several large investors have recently made changes to their positions in AG. Cetera Advisors LLC increased its stake in First Majestic Silver by 3.1% during the 1st quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock valued at $315,000 after purchasing an additional 1,601 shares in the last quarter. Trexquant Investment LP raised its holdings in First Majestic Silver by 1.8% in the 4th quarter. Trexquant Investment LP now owns 178,151 shares of the mining company’s stock worth $1,096,000 after acquiring an additional 3,069 shares during the last quarter. International Assets Investment Management LLC raised its holdings in First Majestic Silver by 39.5% in the 2nd quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock worth $83,000 after acquiring an additional 3,960 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in First Majestic Silver by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock valued at $1,411,000 after purchasing an additional 3,980 shares during the last quarter. Finally, Sprott Inc. boosted its stake in First Majestic Silver by 0.5% during the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock valued at $4,838,000 after purchasing an additional 4,257 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AG. Cormark raised shares of 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 target price on shares of First Majestic Silver in a research note on Friday, September 6th.

First Majestic Silver Stock Down 3.7 %

Shares of NYSE:AG traded down $0.24 during trading on Friday, hitting $6.30. The stock had a trading volume of 8,297,020 shares, compared to its average volume of 7,957,618. 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 has a 12 month low of $4.17 and a 12 month high of $8.44. The company has a market capitalization of $1.83 billion, a PE ratio of -39.38 and a beta of 1.35. The firm’s fifty day moving average is $5.63 and its 200 day moving average is $6.27.

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

First Majestic Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.0046 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Friday, August 16th. First Majestic Silver’s dividend payout ratio (DPR) is presently -6.25%.

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.