Raymond James Financial Inc. Invests $2.44 Million in First Majestic Silver Corp. (NYSE:AG)

Raymond James Financial Inc. acquired a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 444,871 shares of the mining company’s stock, valued at approximately $2,442,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its stake in First Majestic Silver by 14.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 93,751 shares of the mining company’s stock valued at $563,000 after buying an additional 11,939 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of First Majestic Silver by 4.7% during the third quarter. The Manufacturers Life Insurance Company now owns 249,929 shares of the mining company’s stock valued at $1,502,000 after acquiring an additional 11,311 shares in the last quarter. HighTower Advisors LLC raised its position in shares of First Majestic Silver by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 131,877 shares of the mining company’s stock valued at $793,000 after purchasing an additional 16,424 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in First Majestic Silver in the 3rd quarter worth approximately $748,000. Finally, National Bank of Canada FI grew its position in First Majestic Silver by 18.0% during the 3rd quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after purchasing an additional 104,092 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Stock Down 3.1 %

NYSE:AG opened at $6.76 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The company’s fifty day moving average price is $5.96 and its 200-day moving average price is $6.18. First Majestic Silver Corp. has a 1-year low of $4.43 and a 1-year high of $8.44. The firm has a market capitalization of $3.27 billion, a P/E ratio of -19.30 and a beta of 1.16.

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

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.0057 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, February 28th. First Majestic Silver’s dividend payout ratio (DPR) is currently -5.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. TD Securities raised First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of First Majestic Silver in a research note on Friday, February 21st. Finally, 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 research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.50.

First Majestic Silver Company 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.