Stifel Financial Corp Lowers Position in First Majestic Silver Corp. (NYSE:AG)

Stifel Financial Corp lessened its holdings in shares of First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 93.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,312 shares of the mining company's stock after selling 320,424 shares during the period. Stifel Financial Corp's holdings in First Majestic Silver were worth $134,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AG. Marshall Wace LLP bought a new position in First Majestic Silver in the 2nd quarter valued at about $3,904,000. Dimensional Fund Advisors LP raised its position in First Majestic Silver by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company's stock valued at $18,701,000 after purchasing an additional 103,232 shares in the last quarter. Raymond James & Associates lifted its stake in First Majestic Silver by 17.7% during the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company's stock worth $3,349,000 after purchasing an additional 83,867 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of First Majestic Silver in the 3rd quarter valued at $748,000. Finally, Van ECK Associates Corp increased its stake in shares of First Majestic Silver by 2.7% in the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company's stock valued at $173,478,000 after purchasing an additional 764,790 shares during the last quarter. 27.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AG shares. HC Wainwright reissued a "buy" rating and issued a $8.50 target price on shares of First Majestic Silver in a report on Friday, October 18th. Cormark raised shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, September 6th.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock traded up $0.10 during mid-day trading on Tuesday, hitting $5.49. 10,343,166 shares of the stock were exchanged, compared to its average volume of 8,488,041. The company has a market capitalization of $1.66 billion, a P/E ratio of -20.33 and a beta of 1.25. The company has a 50-day simple moving average of $6.43 and a 200 day simple moving average of $6.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. First Majestic Silver Corp. has a 12 month low of $4.17 and a 12 month high of $8.44.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.12). The company had revenue of $146.09 million during the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. Sell-side analysts anticipate that First Majestic Silver Corp. will post -0.17 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0048 per share. The ex-dividend date was Friday, November 15th. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a dividend yield of 0.35%. First Majestic Silver's dividend payout ratio (DPR) is -3.70%.

First Majestic Silver 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.