Bank of Nova Scotia Makes New Investment in First Majestic Silver Corp. (NYSE:AG)

Bank of Nova Scotia acquired a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,316 shares of the mining company’s stock, valued at approximately $57,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AG. Vanguard Group Inc. lifted its position in First Majestic Silver by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock valued at $62,784,000 after purchasing an additional 598,996 shares in the last quarter. Tidal Investments LLC grew its stake in shares of First Majestic Silver by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock valued at $34,684,000 after acquiring an additional 99,640 shares during the period. Trexquant Investment LP increased its holdings in First Majestic Silver by 161.0% in the 4th quarter. Trexquant Investment LP now owns 1,026,729 shares of the mining company’s stock worth $5,637,000 after acquiring an additional 633,413 shares in the last quarter. National Bank of Canada FI raised its stake in First Majestic Silver by 19.4% during the 4th quarter. National Bank of Canada FI now owns 816,288 shares of the mining company’s stock worth $4,485,000 after acquiring an additional 132,661 shares during the period. Finally, Sprott Inc. lifted its holdings in First Majestic Silver by 26.3% during the fourth quarter. Sprott Inc. now owns 655,445 shares of the mining company’s stock valued at $3,600,000 after purchasing an additional 136,348 shares in the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

NYSE:AG opened at $6.61 on Wednesday. The business’s 50-day moving average is $6.07 and its 200 day moving average is $6.18. First Majestic Silver Corp. has a 12 month low of $4.43 and a 12 month high of $8.09. The company has a market capitalization of $3.20 billion, a P/E ratio of -18.87 and a beta of 0.97. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The firm had revenue of $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. On average, equities research analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.0057 dividend. The ex-dividend date was Friday, February 28th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.35%. First Majestic Silver’s payout ratio is -5.71%.

Analyst Ratings Changes

AG has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. TD Securities upgraded First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank reissued a “sector perform” rating and issued a $6.00 price target on shares of First Majestic Silver in a report on Wednesday, April 2nd. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, First Majestic Silver presently has an average rating of “Hold” and an average target price of $8.50.

First Majestic Silver 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.