First Majestic Silver Corp. (NYSE:AG) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 374,573 shares of the mining company’s stock after selling 76,549 shares during the period. Pictet Asset Management Holding SA owned about 0.12% of First Majestic Silver worth $2,057,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in shares of First Majestic Silver by 805.4% in the 4th 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 last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in First Majestic Silver in the fourth quarter valued at about $55,000. Y Intercept Hong Kong Ltd acquired a new stake in First Majestic Silver during the third quarter valued at approximately $70,000. Kingswood Wealth Advisors LLC bought a new position in First Majestic Silver during the 4th quarter worth approximately $82,000. Finally, Fiduciary Family Office LLC acquired a new position in shares of First Majestic Silver in the 4th quarter worth approximately $86,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $5.57 on Friday. 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 firm has a market capitalization of $2.70 billion, a PE ratio of -15.91 and a beta of 1.16. First Majestic Silver Corp. has a 1-year low of $4.43 and a 1-year high of $8.44. The business’s fifty day moving average price is $6.04 and its two-hundred day moving average price is $6.20.

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

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.0057 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a dividend yield of 0.41%. First Majestic Silver’s payout ratio is currently -5.71%.

Wall Street Analysts Forecast Growth

AG has been the topic of several research reports. Scotiabank reissued a “sector perform” rating and set a $6.00 price target on shares of First Majestic Silver in a research report on Wednesday. StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. TD Securities raised shares of First Majestic Silver to a “hold” rating in a report on Monday, March 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.50.

First Majestic Silver Company 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.