Kestra Private Wealth Services LLC Acquires Shares of 25,867 First Majestic Silver Corp. (NYSE:AG)

Posted by on Apr 21st, 2023

Kestra Private Wealth Services LLC acquired a new stake in shares of First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,867 shares of the mining company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of First Majestic Silver by 5,383.0% in the first quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock worth $63,000 after buying an additional 4,737 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of First Majestic Silver by 52.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 46,051 shares of the mining company’s stock worth $606,000 after buying an additional 15,787 shares during the period. Citigroup Inc. purchased a new stake in shares of First Majestic Silver in the first quarter worth approximately $87,000. Dimensional Fund Advisors LP raised its holdings in shares of First Majestic Silver by 127.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company’s stock worth $17,408,000 after buying an additional 740,867 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in shares of First Majestic Silver in the first quarter worth approximately $142,000. 30.40% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Stock Up 2.3 %

Shares of NYSE AG opened at $7.24 on Friday. 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 stock has a market capitalization of $1.99 billion, a PE ratio of -16.84 and a beta of 1.06. The stock’s fifty day simple moving average is $6.91 and its two-hundred day simple moving average is $8.01. First Majestic Silver Corp. has a 12-month low of $5.53 and a 12-month high of $12.93.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last announced its earnings results on Thursday, February 23rd. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $148.20 million for the quarter, compared to the consensus estimate of $197.59 million. First Majestic Silver had a negative net margin of 18.31% and a negative return on equity of 3.73%. During the same period last year, the business posted $0.02 EPS. As a group, analysts expect that First Majestic Silver Corp. will post 0.09 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were given a dividend of $0.005 per share. The ex-dividend date was Thursday, March 9th. This represents a $0.02 annualized dividend and a yield of 0.28%. First Majestic Silver’s dividend payout ratio (DPR) is presently -4.65%.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Securities reduced their price objective on First Majestic Silver from C$11.00 to C$9.00 in a report on Tuesday, March 21st. HC Wainwright reduced their price objective on First Majestic Silver from $12.00 to $10.50 and set a “buy” rating on the stock in a report on Wednesday, March 22nd. BMO Capital Markets reduced their price objective on First Majestic Silver from C$10.50 to C$9.00 in a report on Friday, January 20th. Finally, National Bank Financial reduced their price objective on First Majestic Silver from C$14.50 to C$11.00 in a report on Tuesday, February 14th.

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

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