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

CIBC Asset Management Inc boosted its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 370,255 shares of the mining company’s stock after purchasing an additional 2,288 shares during the period. CIBC Asset Management Inc owned about 0.12% of First Majestic Silver worth $2,030,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after acquiring an additional 4,591 shares during the period. Principal Securities Inc. lifted its holdings in First Majestic Silver by 30.3% during the 4th quarter. Principal Securities Inc. now owns 21,500 shares of the mining company’s stock valued at $118,000 after purchasing an additional 5,000 shares during the last quarter. Realta Investment Advisors boosted its position in First Majestic Silver by 16.8% in the fourth quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock valued at $2,882,000 after buying an additional 71,456 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of First Majestic Silver during the fourth quarter worth approximately $82,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of First Majestic Silver in the fourth quarter valued at approximately $126,000. 27.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

First Majestic Silver Stock Down 3.7 %

NYSE:AG opened at $5.55 on Friday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -20.54 and a beta of 1.24. 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 stock has a 50-day moving average price of $5.68 and a two-hundred day moving average price of $6.01. First Majestic Silver Corp. has a 1 year low of $4.28 and a 1 year high of $8.44.

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). The business had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. As a group, equities analysts expect that First Majestic Silver Corp. will post -0.18 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.0057 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.41%. 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. First Majestic Silver’s dividend payout ratio (DPR) is presently -7.41%.

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.