LPL Financial LLC Lowers Stock Position in First Majestic Silver Corp. (NYSE:AG)

LPL Financial LLC lowered its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 568,457 shares of the mining company’s stock after selling 24,226 shares during the quarter. LPL Financial LLC’s holdings in First Majestic Silver were worth $3,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in First Majestic Silver by 8.3% in the 4th quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company’s stock worth $128,000 after buying an additional 1,776 shares in the last quarter. Signaturefd LLC increased its holdings in First Majestic Silver by 16.0% in the 1st quarter. Signaturefd LLC now owns 24,377 shares of the mining company’s stock worth $163,000 after buying an additional 3,357 shares in the last quarter. Sigma Planning Corp grew its stake in shares of First Majestic Silver by 29.0% during the 1st quarter. Sigma Planning Corp now owns 15,030 shares of the mining company’s stock valued at $101,000 after purchasing an additional 3,380 shares during the period. Veracity Capital LLC grew its stake in shares of First Majestic Silver by 18.4% during the 1st quarter. Veracity Capital LLC now owns 22,078 shares of the mining company’s stock valued at $148,000 after purchasing an additional 3,425 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of First Majestic Silver by 1,221.6% during the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,506 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AG shares. National Bank Financial upgraded First Majestic Silver to a “hold” rating in a research note on Thursday, June 12th. HC Wainwright restated a “buy” rating and set a $12.75 price target on shares of First Majestic Silver in a research note on Friday. Finally, Scotiabank boosted their price target on First Majestic Silver from $6.00 to $6.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 9th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver currently has a consensus rating of “Hold” and an average price target of $9.63.

First Majestic Silver Stock Up 0.2%

NYSE AG opened at $8.88 on Friday. The stock’s 50 day moving average is $8.47 and its 200 day moving average is $6.94. The company has a current ratio of 3.19, a quick ratio of 2.74 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a 12 month low of $4.59 and a 12 month high of $9.48. The stock has a market cap of $4.33 billion, a PE ratio of -887.11 and a beta of 0.72.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $264.20 million for the quarter, compared to analysts’ expectations of $387.25 million. First Majestic Silver had a return on equity of 1.96% and a net margin of 1.78%. The firm’s revenue was up 94.0% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. Research analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 29th. First Majestic Silver’s dividend payout ratio is -6.90%.

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.