Quantbot Technologies LP Buys Shares of 62,210 First Majestic Silver Corp. $AG

Quantbot Technologies LP bought a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 62,210 shares of the mining company’s stock, valued at approximately $1,055,000.

Several other large investors also recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in First Majestic Silver by 14.0% in the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock valued at $258,273,000 after purchasing an additional 2,581,023 shares during the last quarter. Vanguard Group Inc. increased its position in First Majestic Silver by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock worth $316,914,000 after buying an additional 945,067 shares during the last quarter. Arrowstreet Capital Limited Partnership raised 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 valued at $250,821,000 after buying an additional 12,081,688 shares during the period. Alps Advisors Inc. raised its stake in shares of First Majestic Silver by 33.6% in the fourth quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock valued at $160,298,000 after buying an additional 2,418,513 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of First Majestic Silver by 92.3% during 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 buying an additional 2,919,008 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Trading Up 1.9%

Shares of AG opened at $21.23 on Wednesday. First Majestic Silver Corp. has a twelve month low of $8.72 and a twelve month high of $32.03. The stock has a market cap of $10.47 billion, a PE ratio of 29.91 and a beta of 0.94. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $17.50 and its 200-day moving average price is $20.34.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate 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 net margin of 21.18% and a return on equity of 13.36%. First Majestic Silver’s revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, equities analysts forecast that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

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

Wall Street Analyst Weigh In

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

About First Majestic Silver

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.