CIBC Asset Management Inc Purchases 2,288 Shares of First Majestic Silver Corp. (NYSE:AG)

CIBC Asset Management Inc raised its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 370,255 shares of the mining company’s stock after buying an additional 2,288 shares during the quarter. CIBC Asset Management Inc’s holdings in First Majestic Silver were worth $2,030,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Creative Planning bought a new position in First Majestic Silver during the third quarter worth $72,000. Blue Trust Inc. raised its position in shares of First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after buying an additional 2,253 shares in the last quarter. Raymond James & Associates raised its position in shares of First Majestic Silver by 17.7% in the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock valued at $3,349,000 after buying an additional 83,867 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of First Majestic Silver by 136.4% in the third quarter. International Assets Investment Management LLC now owns 33,090 shares of the mining company’s stock valued at $1,990,000 after buying an additional 19,095 shares during the period. Finally, J.W. Cole Advisors Inc. acquired a new stake in First Majestic Silver during the third quarter worth approximately $295,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AG shares. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of First Majestic Silver in a research note on Friday. Scotiabank reduced their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday.

First Majestic Silver Stock Performance

First Majestic Silver stock opened at $5.55 on Friday. The business has a 50 day moving average of $5.68 and a 200-day moving average of $6.01. The company has a market capitalization of $1.73 billion, a P/E ratio of -20.54 and a beta of 1.24. First Majestic Silver Corp. has a 1 year low of $4.28 and a 1 year high of $8.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The company had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. On average, equities research analysts predict that First Majestic Silver Corp. will post -0.18 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.0057 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.02 annualized dividend and a yield of 0.41%. First Majestic Silver’s dividend payout ratio (DPR) is presently -7.41%.

First Majestic Silver Company Profile

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.