IHT Wealth Management LLC Trims Position in First Majestic Silver Corp. (NYSE:AG)

IHT Wealth Management LLC lowered its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 15.8% in the third quarter, HoldingsChannel reports. The firm owned 13,761 shares of the mining company’s stock after selling 2,580 shares during the period. IHT Wealth Management LLC’s holdings in First Majestic Silver were worth $83,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of First Majestic Silver by 2.7% in the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock valued at $173,478,000 after purchasing an additional 764,790 shares during the last quarter. Marshall Wace LLP purchased a new stake in First Majestic Silver in the 2nd quarter valued at about $3,904,000. Quantbot Technologies LP acquired a new position in First Majestic Silver in the third quarter valued at about $2,057,000. Seven Eight Capital LP purchased a new position in First Majestic Silver during the second quarter worth about $1,025,000. Finally, &PARTNERS acquired a new stake in shares of First Majestic Silver during the second quarter valued at about $661,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Stock Up 4.4 %

Shares of NYSE AG opened at $6.68 on Thursday. First Majestic Silver Corp. has a 12-month low of $4.17 and a 12-month high of $8.44. The stock has a market cap of $2.02 billion, a P/E ratio of -24.74 and a beta of 1.25. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $6.66 and its 200-day simple moving average is $6.23.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The company had revenue of $146.09 million for the quarter. As a group, equities analysts predict that First Majestic Silver Corp. will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.0048 per share. The ex-dividend date was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.29%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is presently -3.70%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. HC Wainwright reissued a “buy” rating and issued a $8.50 price objective on shares of First Majestic Silver in a research note on Friday, October 18th.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.