Raymond James & Associates Trims Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

Raymond James & Associates lowered its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 2.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 474,229 shares of the mining company’s stock after selling 13,267 shares during the period. Raymond James & Associates’ holdings in First Majestic Silver were worth $2,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cetera Advisors LLC boosted its holdings 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 valued at $315,000 after purchasing an additional 1,601 shares during the last quarter. Trexquant Investment LP boosted its holdings in First Majestic Silver by 1.8% in the fourth quarter. Trexquant Investment LP now owns 178,151 shares of the mining company’s stock valued at $1,096,000 after purchasing an additional 3,069 shares during the last quarter. Sprott Inc. lifted its holdings in First Majestic Silver by 0.5% during the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock worth $4,838,000 after buying an additional 4,257 shares during the last quarter. Creekmur Asset Management LLC bought a new position in First Majestic Silver during the 4th quarter worth approximately $43,000. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in First Majestic Silver by 59.1% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 20,200 shares of the mining company’s stock worth $124,000 after buying an additional 7,500 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $5.59 on Monday. 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 business’s 50 day simple moving average is $5.85 and its 200-day simple moving average is $6.16. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -34.94 and a beta of 1.32. 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 announced its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $136.20 million for 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 firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities research analysts forecast that First Majestic Silver Corp. will post -0.11 earnings per share for the current year.

First Majestic Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.0046 dividend. This represents a $0.02 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, August 16th. First Majestic Silver’s dividend payout ratio is currently -12.50%.

Wall Street Analysts Forecast Growth

AG has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $8.50 target price on shares of First Majestic Silver in a report on Friday, August 2nd. Scotiabank increased their price target on First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd.

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.