Dixon Mitchell Investment Counsel Inc. Takes $48,000 Position in First Majestic Silver Corp. (NYSE:AG)

Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the first quarter, HoldingsChannel reports. The firm acquired 8,120 shares of the mining company’s stock, valued at approximately $48,000.

Several other hedge funds also recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of First Majestic Silver by 2.4% during the fourth quarter. Van ECK Associates Corp now owns 30,341,845 shares of the mining company’s stock valued at $186,600,000 after acquiring an additional 709,879 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in First Majestic Silver by 4.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,985,680 shares of the mining company’s stock valued at $43,071,000 after purchasing an additional 266,864 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of First Majestic Silver by 108.7% in the 4th quarter. BNP Paribas Financial Markets now owns 444,848 shares of the mining company’s stock worth $2,736,000 after buying an additional 231,690 shares during the period. Realta Investment Advisors bought a new position in shares of First Majestic Silver during the 4th quarter worth $1,357,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of First Majestic Silver during the fourth quarter valued at $1,266,000. Institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AG shares. Scotiabank upped their price objective on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research note 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 research report on Thursday, May 9th.

First Majestic Silver Stock Up 1.5 %

Shares of AG traded up $0.08 during trading hours on Tuesday, hitting $5.85. The company had a trading volume of 4,799,792 shares, compared to its average volume of 8,021,646. The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.70 billion, a PE ratio of -36.53 and a beta of 1.32. First Majestic Silver Corp. has a one year low of $4.17 and a one year high of $8.44. The company’s fifty day moving average price is $6.77 and its two-hundred day moving average price is $6.00.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Wednesday, May 8th. The mining company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. The firm had revenue of $106.01 million during the quarter. As a group, equities analysts forecast that First Majestic Silver Corp. will post -0.03 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently declared 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 0.27%. The ex-dividend date was Thursday, May 16th. First Majestic Silver’s dividend payout ratio is currently -6.25%.

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.