BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 5,872 Shares of First Majestic Silver Corp. (NYSE:AG)

Posted by on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,856 shares of the mining company’s stock after acquiring an additional 5,872 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in First Majestic Silver were worth $849,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AG. Captrust Financial Advisors raised its stake in First Majestic Silver by 589.5% in the second quarter. Captrust Financial Advisors now owns 8,515 shares of the mining company’s stock worth $61,000 after buying an additional 7,280 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of First Majestic Silver by 5,383.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock worth $63,000 after purchasing an additional 4,737 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in shares of First Majestic Silver during the 3rd quarter worth about $81,000. Bluefin Capital Management LLC acquired a new stake in First Majestic Silver in the 3rd quarter valued at about $83,000. Finally, Ethos Financial Group LLC purchased a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $84,000. Institutional investors own 30.40% of the company’s stock.

First Majestic Silver Stock Performance

NYSE:AG opened at $5.93 on Friday. The firm has a 50 day simple moving average of $6.79 and a 200-day simple moving average of $7.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.81. First Majestic Silver Corp. has a 1-year low of $5.53 and a 1-year high of $9.81.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.006 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.02 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, May 17th. First Majestic Silver’s payout ratio is currently -2.41%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AG. StockNews.com raised shares of First Majestic Silver to a “sell” rating in a research report on Thursday. National Bank Financial reduced their price objective on shares of First Majestic Silver from C$14.50 to C$11.00 in a report on Tuesday, February 14th. HC Wainwright lowered their price objective on shares of First Majestic Silver from $11.00 to $10.00 in a research report on Friday, May 5th. Finally, TD Securities lowered their target price on shares of First Majestic Silver from C$11.00 to C$9.00 in a report on Tuesday, March 21st.

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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