Quadrature Capital Ltd Makes New Investment in First Majestic Silver Corp. (NYSE:AG)

Posted by Defense World Staff on Mar 12th, 2023

Quadrature Capital Ltd bought a new stake in First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 65,300 shares of the mining company’s stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AG. Moors & Cabot Inc. grew its position in First Majestic Silver by 10.4% in the third quarter. Moors & Cabot Inc. now owns 14,090 shares of the mining company’s stock valued at $107,000 after acquiring an additional 1,325 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of First Majestic Silver by 2.6% during the 3rd quarter. National Bank of Canada FI now owns 68,260 shares of the mining company’s stock valued at $519,000 after purchasing an additional 1,708 shares during the last quarter. LGT Group Foundation increased its position in First Majestic Silver by 18.3% during the 3rd quarter. LGT Group Foundation now owns 11,958 shares of the mining company’s stock worth $91,000 after purchasing an additional 1,848 shares in the last quarter. BerganKDV Wealth Management LLC lifted its stake in First Majestic Silver by 94.4% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 4,000 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,942 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its stake in First Majestic Silver by 7.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 30,700 shares of the mining company’s stock valued at $234,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 30.40% of the company’s stock.

First Majestic Silver Stock Up 1.2 %

Shares of AG opened at $6.10 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of -14.19 and a beta of 1.00. The stock’s 50-day moving average price is $7.57 and its two-hundred day moving average price is $8.09. The company has a current ratio of 2.21, a quick ratio of 1.83 and a debt-to-equity ratio of 0.17. First Majestic Silver Corp. has a 12 month low of $5.85 and a 12 month high of $14.59.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last announced its earnings results on Thursday, February 23rd. The mining company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. On average, analysts anticipate that First Majestic Silver Corp. will post 0.11 EPS for the current year.

First Majestic Silver Cuts Dividend

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

Analyst Upgrades and Downgrades

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

First Majestic Silver Company Profile

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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.

Institutional Ownership by Quarter for First Majestic Silver (NYSE:AG)

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