Two Sigma Advisers LP increased its position in First Majestic Silver (NYSE:AG) (TSE:FR) by 95.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,222 shares of the mining company’s stock after purchasing an additional 86,422 shares during the period. Two Sigma Advisers LP’s holdings in First Majestic Silver were worth $1,194,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Scotia Capital Inc. grew its stake in First Majestic Silver by 23.8% in the fourth quarter. Scotia Capital Inc. now owns 78,364 shares of the mining company’s stock worth $528,000 after purchasing an additional 15,060 shares during the period. Aperio Group LLC grew its stake in First Majestic Silver by 17.8% in the fourth quarter. Aperio Group LLC now owns 114,506 shares of the mining company’s stock worth $772,000 after purchasing an additional 17,315 shares during the period. Virtu Financial LLC grew its stake in First Majestic Silver by 36.4% in the fourth quarter. Virtu Financial LLC now owns 66,442 shares of the mining company’s stock worth $448,000 after purchasing an additional 17,733 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of First Majestic Silver by 170.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock worth $215,000 after acquiring an additional 20,064 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of First Majestic Silver by 133.4% in the fourth quarter. First Republic Investment Management Inc. now owns 51,000 shares of the mining company’s stock worth $344,000 after acquiring an additional 29,150 shares during the last quarter. 29.46% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on AG. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of First Majestic Silver in a research note on Tuesday, January 16th. ValuEngine raised First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research cut First Majestic Silver from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. BMO Capital Markets cut First Majestic Silver from a “market perform” rating to an “underperform” rating in a research note on Saturday, December 30th. Finally, TheStreet cut First Majestic Silver from a “c-” rating to a “d” rating in a research note on Friday, March 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. First Majestic Silver has an average rating of “Hold” and a consensus target price of $9.83.
NYSE AG opened at $6.66 on Friday. First Majestic Silver has a 12 month low of $4.93 and a 12 month high of $9.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.14 and a quick ratio of 2.79.
First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Wednesday, February 28th. The mining company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). First Majestic Silver had a negative return on equity of 1.00% and a negative net margin of 21.12%. The company had revenue of $61.17 million during the quarter, compared to analysts’ expectations of $65.00 million. sell-side analysts predict that First Majestic Silver will post 0.04 earnings per share for the current fiscal year.
First Majestic Silver announced that its board has approved a share repurchase program on Monday, March 19th that authorizes the company to repurchase 8,290,000 outstanding shares. This repurchase authorization authorizes the mining company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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First Majestic Silver Profile
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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