Oxbow Advisors LLC Makes New $686,000 Investment in First Majestic Silver Corp. $AG

Oxbow Advisors LLC bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 40,472 shares of the mining company’s stock, valued at approximately $686,000.

A number of other hedge funds have also modified their holdings of AG. Arrowstreet Capital Limited Partnership lifted its stake in shares of First Majestic Silver by 408.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after buying an additional 12,081,688 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in First Majestic Silver during the 1st quarter valued at about $62,760,000. Bank of America Corp DE raised its holdings in First Majestic Silver by 92.3% in the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after acquiring an additional 2,919,008 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in First Majestic Silver in the 4th quarter valued at about $45,898,000. Finally, Tidal Investments LLC raised its holdings in First Majestic Silver by 14.0% in the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock valued at $258,273,000 after acquiring an additional 2,581,023 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AG shares. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. HC Wainwright lifted their price objective on First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Scotiabank lowered their price objective on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $18.49 on Wednesday. First Majestic Silver Corp. has a 12-month low of $8.34 and a 12-month high of $32.03. The stock has a market cap of $9.11 billion, a P/E ratio of 26.04 and a beta of 0.94. The company has a 50-day moving average price of $17.16 and a 200 day moving average price of $20.38. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.First Majestic Silver’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Sell-side analysts anticipate that First Majestic Silver Corp. will post 0.81 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.0152 per share. The ex-dividend date is Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is currently 8.45%.

First Majestic Silver Company 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.