Bank of Nova Scotia Takes Position in First Majestic Silver Corp. (NYSE:AG)

Bank of Nova Scotia purchased a new position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,316 shares of the mining company’s stock, valued at approximately $57,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its stake in First Majestic Silver by 805.4% in the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after purchasing an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in First Majestic Silver in the 4th quarter worth about $55,000. Y Intercept Hong Kong Ltd bought a new stake in First Majestic Silver during the 3rd quarter valued at about $70,000. Kingswood Wealth Advisors LLC purchased a new stake in First Majestic Silver in the 4th quarter valued at about $82,000. Finally, Fiduciary Family Office LLC bought a new position in First Majestic Silver in the 4th quarter worth about $86,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AG shares. Scotiabank reaffirmed a “sector perform” rating and set a $6.00 price target on shares of First Majestic Silver in a research note on Wednesday, April 2nd. TD Securities upgraded First Majestic Silver to a “hold” rating in a report on Monday, March 10th. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.50.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $6.61 on Wednesday. The company has a market capitalization of $3.20 billion, a PE ratio of -18.87 and a beta of 0.97. The company has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $6.18. First Majestic Silver Corp. has a one year low of $4.43 and a one year high of $8.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56.

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

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.0057 per share. This represents a $0.02 annualized dividend and a yield of 0.35%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. First Majestic Silver’s payout ratio 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.