Moors & Cabot Inc. Buys 2,800 Shares of First Majestic Silver Corp. (NYSE:AG)

Moors & Cabot Inc. boosted its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 19.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,100 shares of the mining company’s stock after acquiring an additional 2,800 shares during the quarter. Moors & Cabot Inc.’s holdings in First Majestic Silver were worth $94,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of First Majestic Silver in the 4th quarter valued at about $55,000. Raymond James Financial Inc. bought a new position in shares of First Majestic Silver in the 4th quarter valued at about $2,442,000. Aigen Investment Management LP bought a new position in shares of First Majestic Silver in the 4th quarter valued at about $161,000. Charles Schwab Investment Management Inc. boosted its stake in shares of First Majestic Silver by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company’s stock valued at $3,109,000 after purchasing an additional 18,219 shares during the last quarter. Finally, Sprott Inc. boosted its stake in shares of First Majestic Silver by 26.3% in the 4th quarter. Sprott Inc. now owns 655,445 shares of the mining company’s stock valued at $3,600,000 after purchasing an additional 136,348 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $6.69 on Monday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -19.10 and a beta of 1.16. The firm’s 50 day simple moving average is $5.72 and its 200 day simple moving average is $6.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. First Majestic Silver Corp. has a fifty-two week low of $4.43 and a fifty-two week high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its 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). 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, sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.0057 per share. This is an increase 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 was Friday, February 28th. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

Wall Street Analysts Forecast Growth

AG has been the topic of several recent research reports. StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. TD Securities raised shares of First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a research report on Friday, February 21st. Finally, Scotiabank cut their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, First Majestic Silver presently has an average rating of “Hold” and an average 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.