Virtu Financial LLC Boosts Stake in First Majestic Silver Corp. (NYSE:AG)

Virtu Financial LLC lifted its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 95.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 136,356 shares of the mining company’s stock after acquiring an additional 66,750 shares during the period. Virtu Financial LLC’s holdings in First Majestic Silver were worth $818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in First Majestic Silver by 2.7% during the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock valued at $173,478,000 after purchasing an additional 764,790 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of First Majestic Silver during the 2nd quarter valued at about $3,904,000. Barclays PLC purchased a new position in shares of First Majestic Silver during the 3rd quarter valued at about $2,419,000. Quantbot Technologies LP bought a new stake in First Majestic Silver in the 3rd quarter worth approximately $2,057,000. Finally, XTX Topco Ltd boosted its stake in First Majestic Silver by 1,510.1% in the third quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock worth $1,630,000 after buying an additional 254,870 shares in the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AG has been the subject of a number of recent research 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 target price on shares of First Majestic Silver in a research report on Friday, October 18th.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $6.03 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45. First Majestic Silver Corp. has a one year low of $4.17 and a one year high of $8.44. The business’s 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $6.23. The stock has a market capitalization of $1.82 billion, a P/E ratio of -22.33 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The firm had revenue of $146.09 million for the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. Analysts forecast that First Majestic Silver Corp. will post -0.17 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.0048 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, November 15th. First Majestic Silver’s dividend payout ratio (DPR) is currently -7.41%.

First Majestic Silver 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.