Dark Forest Capital Management LP Purchases New Position in First Majestic Silver Corp. (NYSE:AG)

Dark Forest Capital Management LP purchased a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,810 shares of the mining company’s stock, valued at approximately $70,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Campbell & CO Investment Adviser LLC bought a new position in shares of First Majestic Silver in the 4th quarter worth approximately $1,266,000. Vanguard Group Inc. raised its holdings in First Majestic Silver by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock worth $61,456,000 after purchasing an additional 186,570 shares during the period. Virtu Financial LLC purchased a new position in First Majestic Silver during the first quarter valued at $1,373,000. SG Americas Securities LLC increased its position in First Majestic Silver by 145.4% in the first quarter. SG Americas Securities LLC now owns 424,917 shares of the mining company’s stock worth $2,499,000 after buying an additional 251,741 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new position in shares of First Majestic Silver in the fourth quarter worth about $43,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Down 4.8 %

NYSE AG opened at $6.00 on Tuesday. 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 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.74 billion, a PE ratio of -37.50 and a beta of 1.35. The stock’s 50 day moving average is $5.63 and its 200 day moving average is $6.29.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm 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 company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. Research analysts predict that First Majestic Silver Corp. will post -0.13 EPS for the current fiscal year.

First Majestic Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.0046 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Friday, August 16th. First Majestic Silver’s payout ratio is -6.25%.

Analyst Upgrades and Downgrades

AG has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $8.50 price objective on shares of First Majestic Silver in a research note on Friday, September 6th. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th.

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.