Connor Clark & Lunn Investment Management Ltd. Makes New Investment in First Majestic Silver Corp. (NYSE:AG)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 178,700 shares of the mining company’s stock, valued at approximately $981,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of First Majestic Silver as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after buying an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in First Majestic Silver during the fourth quarter worth $55,000. Y Intercept Hong Kong Ltd purchased a new stake in First Majestic Silver during the third quarter worth $70,000. Kingswood Wealth Advisors LLC purchased a new stake in First Majestic Silver during the fourth quarter worth $82,000. Finally, Fiduciary Family Office LLC purchased a new stake in First Majestic Silver during the fourth quarter worth $86,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on AG shares. TD Securities upgraded First Majestic Silver to a “hold” rating in a report on Monday, March 10th. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a report on Friday, February 21st. Finally, Scotiabank decreased their price objective on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.50.

First Majestic Silver Stock Performance

Shares of AG stock opened at $7.05 on Friday. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -20.15 and a beta of 1.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The business has a fifty day moving average of $5.83 and a 200 day moving average of $6.09. First Majestic Silver Corp. has a 1 year low of $4.43 and a 1 year high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to analysts’ expectations of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. As a group, research analysts expect that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.0057 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.32%. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

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.