Veracity Capital LLC Decreases Position in First Majestic Silver Corp. (NYSE:AG)

Veracity Capital LLC trimmed its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 12.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,634 shares of the mining company’s stock after selling 2,028 shares during the quarter. Veracity Capital LLC’s holdings in First Majestic Silver were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of First Majestic Silver by 5.1% in the first quarter. Van ECK Associates Corp now owns 31,876,555 shares of the mining company’s stock valued at $187,433,000 after purchasing an additional 1,534,710 shares in the last quarter. Vanguard Group Inc. grew its holdings in First Majestic Silver by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock valued at $61,456,000 after buying an additional 186,570 shares in the last quarter. Tidal Investments LLC increased its position in shares of First Majestic Silver by 6,929.4% during the first quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company’s stock valued at $30,406,000 after buying an additional 5,101,271 shares during the period. Sprott Inc. lifted its holdings in shares of First Majestic Silver by 0.5% in the fourth quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock worth $4,838,000 after buying an additional 4,257 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of First Majestic Silver by 2.0% in the fourth quarter. TD Asset Management Inc now owns 757,732 shares of the mining company’s stock valued at $4,672,000 after acquiring an additional 14,848 shares during the period. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Price Performance

Shares of NYSE AG traded up $0.09 during mid-day trading on Wednesday, reaching $5.85. 4,856,266 shares of the company were exchanged, compared to its average volume of 7,608,190. The stock has a market capitalization of $1.70 billion, a PE ratio of -36.00 and a beta of 1.32. The company has a quick ratio of 1.77, a current ratio of 2.33 and a debt-to-equity ratio of 0.18. First Majestic Silver Corp. has a 52 week low of $4.17 and a 52 week high of $8.44. The company’s 50 day moving average price is $5.92 and its 200 day moving average price is $6.10.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $129.74 million. First Majestic Silver had a negative return on equity of 4.41% and a negative net margin of 15.37%. First Majestic Silver’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Sell-side analysts forecast that First Majestic Silver Corp. will post -0.03 earnings per share for the current fiscal year.

First Majestic Silver Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.0046 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%. First Majestic Silver’s dividend payout ratio (DPR) is currently -6.25%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AG. Scotiabank upped their target price on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a report on Friday, August 2nd.

About First Majestic Silver

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.