Cubist Systematic Strategies LLC Increases Stock Holdings in First Majestic Silver Corp. (NYSE:AG)

Cubist Systematic Strategies LLC boosted its holdings in First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) by 2,412.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 403,661 shares of the mining company’s stock after purchasing an additional 387,594 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.15% of First Majestic Silver worth $3,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BerganKDV Wealth Management LLC increased its holdings in shares of First Majestic Silver by 94.4% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 4,000 shares of the mining company’s stock worth $30,000 after buying an additional 1,942 shares during the last quarter. Profund Advisors LLC increased its stake in First Majestic Silver by 17.0% during the third quarter. Profund Advisors LLC now owns 17,358 shares of the mining company’s stock worth $132,000 after acquiring an additional 2,523 shares during the last quarter. Deer Park Road Corp raised its holdings in shares of First Majestic Silver by 10.1% in the 3rd quarter. Deer Park Road Corp now owns 1,855,000 shares of the mining company’s stock worth $14,135,000 after purchasing an additional 169,442 shares during the period. PDT Partners LLC acquired a new position in shares of First Majestic Silver in the 3rd quarter valued at about $578,000. Finally, Caption Management LLC purchased a new stake in shares of First Majestic Silver during the 2nd quarter worth about $287,000. 30.40% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on AG shares. TD Securities cut their price target on shares of First Majestic Silver from C$12.00 to C$11.00 in a report on Monday, February 27th. National Bank Financial reduced their target price on shares of First Majestic Silver from C$14.50 to C$11.00 in a report on Tuesday, February 14th. BMO Capital Markets lowered their price target on First Majestic Silver from C$10.50 to C$9.00 in a report on Friday, January 20th. Finally, HC Wainwright reduced their price objective on First Majestic Silver from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Friday, January 20th.

First Majestic Silver Price Performance

Shares of AG stock opened at $6.15 on Wednesday. First Majestic Silver Corp. has a twelve month low of $5.90 and a twelve month high of $14.59. The company has a market capitalization of $1.69 billion, a PE ratio of -14.30 and a beta of 1.00. The company has a current ratio of 2.21, a quick ratio of 1.83 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $7.72 and a 200-day simple moving average of $8.13.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last posted its quarterly earnings data on Thursday, February 23rd. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). First Majestic Silver had a negative net margin of 18.31% and a negative return on equity of 3.73%. The firm had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same period in the previous year, the company earned $0.02 earnings per share. Equities research analysts anticipate that First Majestic Silver Corp. will post 0.11 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be issued a dividend of $0.005 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.02 annualized dividend and a yield of 0.33%. First Majestic Silver’s dividend payout ratio is presently -4.65%.

About First Majestic Silver

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First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including the La Encantada Silver Mine, La Parrilla Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, Del Toro Silver Mine, Santa Elena Silver & Gold Mine, and San Dimas Silver & Gold Mine.

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