First Majestic Silver Corp. (NYSE:AG) Position Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 17.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 374,573 shares of the mining company's stock after selling 76,549 shares during the quarter. Pictet Asset Management Holding SA owned 0.12% of First Majestic Silver worth $2,057,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of First Majestic Silver by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company's stock worth $62,784,000 after buying an additional 598,996 shares during the last quarter. LPL Financial LLC lifted its position in First Majestic Silver by 92.9% in the fourth quarter. LPL Financial LLC now owns 592,683 shares of the mining company's stock valued at $3,254,000 after acquiring an additional 285,488 shares during the last quarter. Fox Run Management L.L.C. boosted its stake in First Majestic Silver by 18.0% in the fourth quarter. Fox Run Management L.L.C. now owns 30,121 shares of the mining company's stock valued at $165,000 after acquiring an additional 4,596 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of First Majestic Silver by 28.0% during the fourth quarter. Virtu Financial LLC now owns 174,527 shares of the mining company's stock worth $958,000 after purchasing an additional 38,171 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of First Majestic Silver by 38.9% during the fourth quarter. Quantbot Technologies LP now owns 475,989 shares of the mining company's stock worth $2,613,000 after purchasing an additional 133,196 shares in the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AG shares. StockNews.com raised shares of First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Scotiabank reaffirmed a "sector perform" rating and issued a $6.00 target price on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities raised First Majestic Silver to a "hold" rating in a report on Monday, March 10th. National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, First Majestic Silver presently has an average rating of "Hold" and an average price target of $8.50.

First Majestic Silver Price Performance

NYSE:AG traded up $0.68 during trading hours on Wednesday, reaching $5.92. 32,745,664 shares of the company traded hands, compared to its average volume of 11,529,950. 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 firm's 50-day moving average is $6.03 and its 200-day moving average is $6.18. The stock has a market cap of $2.87 billion, a P/E ratio of -16.91 and a beta of 0.97. First Majestic Silver Corp. has a 1-year low of $4.43 and a 1-year high of $8.44.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. Equities research analysts expect that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.0057 dividend. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, February 28th. First Majestic Silver's dividend payout ratio (DPR) is -5.71%.

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.