Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Buys 51,200 Shares of First Majestic Silver Corp. $AG

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 120.8% during the third quarter, Holdings Channel.com reports. The fund owned 93,600 shares of the mining company’s stock after buying an additional 51,200 shares during the period. First Majestic Silver accounts for approximately 2.8% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings, making the stock its 15th largest holding. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings in First Majestic Silver were worth $1,150,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AG. Bogart Wealth LLC bought a new position in First Majestic Silver in the third quarter valued at approximately $28,000. Sound Income Strategies LLC boosted its holdings in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of First Majestic Silver by 33.2% in the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock valued at $48,000 after buying an additional 971 shares in the last quarter. CWM LLC grew its stake in shares of First Majestic Silver by 57.2% in the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after buying an additional 1,860 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in First Majestic Silver by 7,831.6% during the third quarter. Global Retirement Partners LLC now owns 6,028 shares of the mining company’s stock worth $74,000 after buying an additional 5,952 shares during the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AG. Scotiabank lifted their price objective on shares of First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. HC Wainwright lifted their price target on First Majestic Silver from $17.50 to $24.50 and gave the stock a “buy” rating in a report on Friday, January 16th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. Finally, National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Sunday, October 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

First Majestic Silver Stock Up 5.0%

First Majestic Silver stock opened at $25.43 on Friday. The company’s 50-day moving average price is $16.77 and its two-hundred day moving average price is $12.70. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The stock has a market cap of $12.49 billion, a P/E ratio of 181.61 and a beta of 0.77. First Majestic Silver Corp. has a twelve month low of $5.09 and a twelve month high of $25.47.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The firm had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue was up 95.3% on a year-over-year basis. As a group, analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.0052 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently 14.29%.

First Majestic Silver Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.