Vanguard Group Inc. Increases Stake in First Majestic Silver Corp. (NYSE:AG)

Vanguard Group Inc. boosted its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,423,691 shares of the mining company's stock after purchasing an additional 598,996 shares during the quarter. Vanguard Group Inc. owned approximately 3.66% of First Majestic Silver worth $62,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of First Majestic Silver by 805.4% in the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company's stock valued at $29,000 after acquiring an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in First Majestic Silver in the 4th quarter worth approximately $55,000. Y Intercept Hong Kong Ltd bought a new position in First Majestic Silver in the 3rd quarter valued at $70,000. Kingswood Wealth Advisors LLC bought a new position in First Majestic Silver in the 4th quarter valued at $82,000. Finally, Fiduciary Family Office LLC purchased a new position in shares of First Majestic Silver during the 4th quarter valued at $86,000. Hedge funds and other institutional investors own 27.16% of the company's stock.

Analyst Upgrades and Downgrades

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

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First Majestic Silver Price Performance

Shares of NYSE AG traded down $0.05 during trading hours on Tuesday, reaching $6.61. 18,714,790 shares of the stock traded hands, compared to its average volume of 11,680,071. The company's 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $6.17. The company has a market capitalization of $3.20 billion, a P/E ratio of -18.87 and a beta of 0.97. First Majestic Silver Corp. has a 52-week low of $4.43 and a 52-week high of $8.09. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly 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 business had revenue of $172.34 million for the quarter, compared to analysts' expectations of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. Equities research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid 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 annualized dividend and a yield of 0.35%. First Majestic Silver's payout ratio is currently -5.71%.

About First Majestic Silver

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.