Short Interest in First Majestic Silver Corp. (NYSE:AG) Grows By 7.0%

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 30,410,000 shares, a growth of 7.0% from the September 30th total of 28,420,000 shares. Based on an average daily volume of 9,260,000 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AG. Cetera Advisors LLC boosted its holdings in First Majestic Silver by 3.1% in the first quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock worth $315,000 after purchasing an additional 1,601 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of First Majestic Silver by 77.3% in the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after buying an additional 2,253 shares during the last quarter. Veracity Capital LLC grew its holdings in shares of First Majestic Silver by 18.5% in the third quarter. Veracity Capital LLC now owns 17,344 shares of the mining company’s stock worth $104,000 after acquiring an additional 2,710 shares during the period. International Assets Investment Management LLC increased its position in First Majestic Silver by 39.5% during the second quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock valued at $83,000 after acquiring an additional 3,960 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in First Majestic Silver by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock valued at $1,411,000 after acquiring an additional 3,980 shares during the period. 27.16% of the stock is owned by institutional investors.

First Majestic Silver Stock Up 0.9 %

AG stock traded up $0.07 on Friday, reaching $7.45. 1,623,923 shares of the company traded hands, compared to its average volume of 8,216,728. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $6.28 and a 200-day simple moving average of $6.37. First Majestic Silver has a one year low of $4.17 and a one year high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm had revenue of $136.20 million for the quarter, compared to the consensus estimate of $129.74 million. First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) earnings per share. Sell-side analysts anticipate that First Majestic Silver will post -0.13 EPS for the current year.

Analyst Ratings Changes

AG has been the subject of a number of analyst reports. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, September 6th. HC Wainwright reiterated a “buy” rating and issued a $8.50 price objective on shares of First Majestic Silver in a research report on Friday, October 18th.

First Majestic Silver Company Profile

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.