Renaissance Technologies LLC Increases Stock Position in First Majestic Silver Corp. (NYSE:AG)

Renaissance Technologies LLC increased its stake in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 897.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,759,181 shares of the mining company's stock after acquiring an additional 3,382,443 shares during the quarter. Renaissance Technologies LLC owned approximately 1.20% of First Majestic Silver worth $20,638,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. HighTower Advisors LLC lifted its stake in shares of First Majestic Silver by 14.2% in the third quarter. HighTower Advisors LLC now owns 131,877 shares of the mining company's stock valued at $793,000 after buying an additional 16,424 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in First Majestic Silver during the 3rd quarter worth approximately $70,000. Public Employees Retirement System of Ohio purchased a new stake in shares of First Majestic Silver in the third quarter worth approximately $504,000. Barclays PLC bought a new position in shares of First Majestic Silver in the third quarter valued at approximately $2,419,000. Finally, Geode Capital Management LLC lifted its holdings in shares of First Majestic Silver by 9.8% in the third quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company's stock valued at $825,000 after purchasing an additional 12,171 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AG. Scotiabank restated a "sector perform" rating and set a $6.00 price objective on shares of First Majestic Silver in a research note on Wednesday, April 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $11.00 price objective on shares of First Majestic Silver in a research report on Friday, February 21st. TD Securities raised shares of First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. StockNews.com raised First Majestic Silver from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Finally, National Bankshares reissued a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.50.

First Majestic Silver Stock Performance

AG stock traded down $0.05 during mid-day trading on Tuesday, hitting $6.61. The company had a trading volume of 18,714,790 shares, compared to its average volume of 11,683,047. First Majestic Silver Corp. has a 12 month low of $4.43 and a 12 month high of $8.09. The stock's fifty day moving average price is $6.06 and its two-hundred day moving average price is $6.17. The firm has a market cap of $3.20 billion, a PE ratio of -18.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56.

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 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm had revenue of $172.34 million during the quarter, compared to analysts' expectations of $227.77 million. On average, analysts forecast 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 declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.0057 per share. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date was Friday, February 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.35%. First Majestic Silver's dividend payout ratio is presently -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.