Oxbow Advisors LLC Invests $111,000 in First Majestic Silver Corp. (NYSE:AG)

Oxbow Advisors LLC bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,952 shares of the mining company’s stock, valued at approximately $111,000.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board increased its stake in First Majestic Silver by 17.1% in the third quarter. Public Sector Pension Investment Board now owns 619,920 shares of the mining company’s stock valued at $3,191,000 after purchasing an additional 90,526 shares in the last quarter. Vanguard Group Inc. increased its stake in First Majestic Silver by 1.2% in the third quarter. Vanguard Group Inc. now owns 9,785,103 shares of the mining company’s stock valued at $50,198,000 after purchasing an additional 113,236 shares in the last quarter. Financial Sense Advisors Inc. increased its stake in First Majestic Silver by 146.1% in the fourth quarter. Financial Sense Advisors Inc. now owns 33,330 shares of the mining company’s stock valued at $205,000 after purchasing an additional 19,788 shares in the last quarter. SG Americas Securities LLC increased its stake in First Majestic Silver by 123.3% in the fourth quarter. SG Americas Securities LLC now owns 173,176 shares of the mining company’s stock valued at $1,065,000 after purchasing an additional 95,613 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of First Majestic Silver by 4.7% during the fourth quarter. Raymond James & Associates now owns 463,196 shares of the mining company’s stock worth $2,849,000 after acquiring an additional 20,778 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AG shares. HC Wainwright restated a “buy” rating and set a $8.50 target price on shares of First Majestic Silver in a report on Thursday, May 9th. Scotiabank increased their price target on shares of First Majestic Silver from $5.50 to $6.50 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd.

First Majestic Silver Stock Performance

Shares of NYSE AG remained flat at $6.66 during mid-day trading on Friday. 1,375,977 shares of the stock were exchanged, compared to its average volume of 7,854,684. The firm’s fifty day moving average is $6.71 and its 200-day moving average is $6.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.33. First Majestic Silver Corp. has a one year low of $4.17 and a one year high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Wednesday, May 8th. The mining company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). First Majestic Silver had a negative return on equity of 3.28% and a negative net margin of 9.18%. The business had revenue of $106.01 million for the quarter. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post -0.03 EPS for the current year.

First Majestic Silver Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were issued a $0.004 dividend. This represents a $0.02 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Thursday, May 16th. First Majestic Silver’s dividend payout ratio is currently -6.25%.

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.