The Manufacturers Life Insurance Company Grows Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

The Manufacturers Life Insurance Company grew its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 1.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 238,618 shares of the mining company’s stock after buying an additional 3,980 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in First Majestic Silver were worth $1,411,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of First Majestic Silver by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock valued at $61,456,000 after acquiring an additional 186,570 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of First Majestic Silver during the 2nd quarter valued at $3,904,000. Virtu Financial LLC acquired a new position in shares of First Majestic Silver during the 1st quarter valued at $1,373,000. Dimensional Fund Advisors LP lifted its holdings in shares of First Majestic Silver by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock valued at $18,701,000 after acquiring an additional 103,232 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of First Majestic Silver by 145.4% during the 1st quarter. SG Americas Securities LLC now owns 424,917 shares of the mining company’s stock valued at $2,499,000 after acquiring an additional 251,741 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AG. HC Wainwright restated a “buy” rating and set a $8.50 target price on shares of First Majestic Silver in a report on Friday, September 6th. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, September 6th.

First Majestic Silver Stock Performance

Shares of AG stock opened at $6.52 on Friday. First Majestic Silver Corp. has a 12 month low of $4.17 and a 12 month high of $8.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.05 and a quick ratio of 2.44. The firm has a market capitalization of $1.89 billion, a P/E ratio of -40.72 and a beta of 1.36. The company’s fifty day moving average price is $5.69 and its two-hundred day moving average price is $6.33.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data 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 firm had revenue of $136.20 million during the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS. On average, research analysts anticipate that First Majestic Silver Corp. will post -0.13 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.0046 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. First Majestic Silver’s dividend payout ratio (DPR) is presently -6.25%.

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.