Raymond James & Associates Increases Position in First Majestic Silver Corp. (NYSE:AG)

Raymond James & Associates increased its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 17.7% in the 3rd quarter, according to its most recent disclosure 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 period. Raymond James & Associates’ holdings in First Majestic Silver were worth $3,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cetera Advisors LLC grew its position in First Majestic Silver by 3.1% in the first quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock worth $315,000 after acquiring an additional 1,601 shares in the last quarter. Blue Trust Inc. grew its position in First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after acquiring an additional 2,253 shares in the last quarter. International Assets Investment Management LLC grew its position in First Majestic Silver by 39.5% in the second 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 in the last quarter. The Manufacturers Life Insurance Company grew its position in First Majestic Silver by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock worth $1,411,000 after acquiring an additional 3,980 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Majestic Silver by 6.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,320 shares of the mining company’s stock worth $493,000 after purchasing an additional 4,797 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on AG shares. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th. HC Wainwright reissued a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research note on Friday, October 18th.

First Majestic Silver Stock Performance

First Majestic Silver stock opened at $7.18 on Monday. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.17 billion, a PE ratio of -26.59 and a beta of 1.31. The firm has a fifty day simple moving average of $6.31 and a two-hundred day simple moving average of $6.36. First Majestic Silver Corp. has a twelve month low of $4.17 and a twelve month high of $8.44.

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 the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $136.20 million for the quarter, compared to the consensus estimate 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 revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted ($0.02) earnings per share. Research analysts expect that First Majestic Silver Corp. will post -0.13 EPS for the current year.

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.