TD Waterhouse Canada Inc. Purchases 29,635 Shares of First Majestic Silver Corp. $AG

TD Waterhouse Canada Inc. grew its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 142.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,422 shares of the mining company’s stock after purchasing an additional 29,635 shares during the period. TD Waterhouse Canada Inc.’s holdings in First Majestic Silver were worth $859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EFG International AG acquired a new stake in First Majestic Silver during the 4th quarter worth $25,000. Harbor Investment Advisory LLC bought a new stake in shares of First Majestic Silver in the first quarter worth about $32,000. PNC Financial Services Group Inc. increased its holdings in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after acquiring an additional 978 shares in the last quarter. Parallel Advisors LLC raised its position in shares of First Majestic Silver by 36.4% during the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after purchasing an additional 560 shares during the period. Finally, Sittner & Nelson LLC bought a new position in shares of First Majestic Silver during the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Price Performance

NYSE:AG opened at $21.19 on Thursday. First Majestic Silver Corp. has a 52-week low of $9.06 and a 52-week high of $32.03. The company has a market cap of $10.44 billion, a P/E ratio of 29.84 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. The stock’s 50-day simple moving average is $18.32 and its 200 day simple moving average is $20.20.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results 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 company had revenue of $415.50 million for the quarter, compared to analyst estimates of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. As a group, sell-side analysts forecast that First Majestic Silver Corp. will post 0.81 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.0152 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, August 14th. First Majestic Silver’s payout ratio is 8.45%.

Analyst Ratings Changes

AG has been the topic of several research analyst reports. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Scotiabank lowered their target price on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, HC Wainwright boosted their price target on First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver presently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

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.