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

Raymond James Financial Inc. purchased a new stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 444,871 shares of the mining company's stock, valued at approximately $2,442,000. Raymond James Financial Inc. owned 0.14% of First Majestic Silver at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Toronto Dominion Bank lifted its position in First Majestic Silver by 6.7% in the third quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company's stock valued at $176,000 after buying an additional 1,855 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of First Majestic Silver by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company's stock worth $2,030,000 after acquiring an additional 2,288 shares during the last quarter. Euro Pacific Asset Management LLC boosted its position in shares of First Majestic Silver by 10.9% during the 4th quarter. Euro Pacific Asset Management LLC now owns 45,723 shares of the mining company's stock worth $262,000 after purchasing an additional 4,512 shares during the period. Allworth Financial LP increased its holdings in First Majestic Silver by 805.4% in the 4th 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. Finally, Principal Securities Inc. raised its position in First Majestic Silver by 30.3% in the fourth quarter. Principal Securities Inc. now owns 21,500 shares of the mining company's stock valued at $118,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 27.16% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on AG. TD Securities upgraded First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. HC Wainwright restated a "buy" rating and set a $11.00 target price on shares of First Majestic Silver in a report on Friday, February 21st. 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, Scotiabank reissued a "sector perform" rating and issued a $6.00 price objective on shares of First Majestic Silver in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, First Majestic Silver presently has a consensus rating of "Hold" and an average price target of $8.50.

First Majestic Silver Stock Up 0.8 %

AG traded up $0.05 on Wednesday, hitting $6.68. 16,961,017 shares of the company were exchanged, compared to its average volume of 11,404,533. The firm has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $6.20. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. First Majestic Silver Corp. has a twelve month low of $4.43 and a twelve month high of $8.44. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -19.09 and a beta of 1.16.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing analysts' consensus estimates 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%. On average, equities analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.0057 dividend. The ex-dividend date was Friday, February 28th. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.34%. First Majestic Silver's dividend payout ratio is currently -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.