Charles Schwab Investment Management Inc. Buys 18,219 Shares of First Majestic Silver Corp. (NYSE:AG)

Charles Schwab Investment Management Inc. raised its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,982 shares of the mining company’s stock after acquiring an additional 18,219 shares during the period. Charles Schwab Investment Management Inc.’s holdings in First Majestic Silver were worth $3,109,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of First Majestic Silver by 805.4% in the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after purchasing an additional 4,591 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in First Majestic Silver in the 3rd quarter worth about $70,000. Kingswood Wealth Advisors LLC purchased a new stake in First Majestic Silver in the 4th quarter valued at about $82,000. Fiduciary Family Office LLC bought a new position in shares of First Majestic Silver during the 4th quarter worth approximately $86,000. Finally, Principal Securities Inc. lifted its position in shares of First Majestic Silver by 30.3% during the 4th quarter. Principal Securities Inc. now owns 21,500 shares of the mining company’s stock worth $118,000 after buying an additional 5,000 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AG. TD Securities raised First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. Scotiabank reduced their price objective on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, First Majestic Silver presently has an average rating of “Hold” and a consensus target price of $8.50.

First Majestic Silver Stock Up 2.6 %

Shares of NYSE:AG opened at $6.97 on Friday. The firm has a fifty day moving average of $5.95 and a 200 day moving average of $6.15. First Majestic Silver Corp. has a 52-week low of $4.43 and a 52-week high of $8.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56. The firm has a market capitalization of $3.37 billion, a PE ratio of -19.90 and a beta of 1.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The business had revenue of $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. As a group, research analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.0057 per share. This represents a $0.02 annualized dividend and a yield of 0.33%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, February 28th. First Majestic Silver’s dividend payout ratio is presently -5.71%.

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.