TD Asset Management Inc Sells 912,473 Shares of First Majestic Silver Corp. $AG

TD Asset Management Inc decreased its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 31.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,008,398 shares of the mining company’s stock after selling 912,473 shares during the period. TD Asset Management Inc owned about 0.41% of First Majestic Silver worth $24,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AG. Bogart Wealth LLC purchased a new stake in shares of First Majestic Silver during the third quarter valued at $28,000. Sound Income Strategies LLC boosted its holdings in shares of First Majestic Silver by 29,900.0% during the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after acquiring 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 worth $48,000 after acquiring an additional 971 shares during the period. 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 worth $42,000 after acquiring an additional 1,860 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of 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 valued at $74,000 after purchasing an additional 5,952 shares during the last quarter. 27.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AG shares. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. BMO Capital Markets reissued a “market perform” rating on shares of First Majestic Silver in a report on Friday, January 16th. Zacks Research upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Finally, HC Wainwright increased their target price on First Majestic Silver to $30.00 and gave the company a “buy” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver currently has an average rating of “Moderate Buy” and an average target price of $25.00.

First Majestic Silver Trading Up 3.0%

Shares of First Majestic Silver stock opened at $32.02 on Friday. First Majestic Silver Corp. has a 1-year low of $5.09 and a 1-year high of $32.04. The company’s fifty day simple moving average is $21.89 and its 200-day simple moving average is $15.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The stock has a market capitalization of $15.79 billion, a PE ratio of 91.50 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $463.92 million for the quarter, compared to analysts’ expectations of $561.30 million. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.First Majestic Silver’s revenue for the quarter was up 169.2% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. As a group, equities analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.0083 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.03 annualized dividend and a yield of 0.1%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s payout ratio is currently 5.71%.

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.