Stifel Financial Corp Cuts Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

Stifel Financial Corp cut its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 28.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,962 shares of the mining company’s stock after selling 6,350 shares during the period. Stifel Financial Corp’s holdings in First Majestic Silver were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in shares of First Majestic Silver by 8.3% in the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company’s stock valued at $128,000 after acquiring an additional 1,776 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of First Majestic Silver by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company’s stock worth $2,030,000 after purchasing an additional 2,288 shares in the last quarter. Rathbones Group PLC grew its holdings in shares of First Majestic Silver by 4.3% during the fourth quarter. Rathbones Group PLC now owns 56,852 shares of the mining company’s stock worth $312,000 after buying an additional 2,325 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of First Majestic Silver by 19.6% during the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company’s stock worth $94,000 after buying an additional 2,800 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of First Majestic Silver by 23.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 21,419 shares of the mining company’s stock worth $118,000 after buying an additional 4,009 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AG. National Bankshares reiterated a “sector perform” rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. HC Wainwright upped their target price on First Majestic Silver from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Friday, May 9th. TD Securities upgraded First Majestic Silver to a “hold” rating in a report on Monday, March 10th. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Scotiabank restated a “sector perform” rating and set a $6.00 price objective 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 issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.75.

First Majestic Silver Stock Up 0.4%

Shares of NYSE AG opened at $5.65 on Friday. The stock has a fifty day moving average price of $6.30 and a 200 day moving average price of $6.08. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.74 billion, a P/E ratio of -16.14 and a beta of 0.81. First Majestic Silver Corp. has a 12-month low of $4.43 and a 12-month high of $8.09.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The company had revenue of $241.12 million for the quarter, compared to the consensus estimate of $358.65 million. During the same period in the previous year, the business posted ($0.05) EPS. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. Research analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $0.0045 per share. The ex-dividend date is Friday, May 16th. This represents a dividend yield of 0.32%. First Majestic Silver’s dividend payout ratio is presently -3.45%.

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.