The Manufacturers Life Insurance Company Has $59.61 Million Holdings in First Majestic Silver Corp. $AG

The Manufacturers Life Insurance Company grew its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 63.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,516,832 shares of the mining company’s stock after buying an additional 1,371,189 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in First Majestic Silver were worth $59,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Tidal Investments LLC raised its stake in shares of 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 acquiring an additional 2,581,023 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in First Majestic Silver by 408.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after acquiring an additional 12,081,688 shares during the last quarter. Alps Advisors Inc. increased its holdings in First Majestic Silver by 33.6% during the 4th quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock valued at $160,298,000 after purchasing an additional 2,418,513 shares in the last quarter. Bank of America Corp DE raised its position 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 purchasing an additional 2,919,008 shares during the last quarter. Finally, Morgan Stanley raised its position in First Majestic Silver by 63.2% in the 4th quarter. Morgan Stanley now owns 3,809,109 shares of the mining company’s stock valued at $63,460,000 after purchasing an additional 1,474,412 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Down 3.0%

NYSE:AG opened at $19.55 on Friday. The stock’s fifty day moving average price is $18.41 and its two-hundred day moving average price is $20.15. First Majestic Silver Corp. has a 52-week low of $9.68 and a 52-week high of $32.03. 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 company has a market cap of $9.64 billion, a price-to-earnings ratio of 27.54 and a beta of 1.00.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its 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 firm had revenue of $415.50 million during 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 firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. On average, analysts anticipate that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. 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 reiterated a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. HC Wainwright upped their price target on shares of First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Scotiabank decreased 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. Finally, Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.83.

About First Majestic Silver

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.