Oxbow Advisors LLC Buys New Shares in First Majestic Silver Corp. (NYSE:AG)

Oxbow Advisors LLC purchased a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,952 shares of the mining company’s stock, valued at approximately $111,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of First Majestic Silver during the 4th quarter valued at about $43,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Majestic Silver in the 1st quarter valued at about $48,000. Capstone Investment Advisors LLC purchased a new position in First Majestic Silver in the 4th quarter valued at about $69,000. Capital Management Associates Inc purchased a new position in First Majestic Silver in the 4th quarter valued at about $92,000. Finally, Aigen Investment Management LP purchased a new position in First Majestic Silver in the 4th quarter worth approximately $118,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Price Performance

Shares of AG stock remained flat at $6.66 during trading on Friday. 1,375,977 shares of the stock traded hands, compared to its average volume of 7,854,684. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.33. The firm’s 50-day moving average price is $6.71 and its two-hundred day moving average price is $6.01. First Majestic Silver Corp. has a 1 year low of $4.17 and a 1 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 the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $106.01 million for the quarter. First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. On average, equities research 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 declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were given a dividend of $0.004 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, May 16th. First Majestic Silver’s payout ratio is presently -6.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AG shares. Scotiabank raised 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 research note on Thursday, May 23rd. HC Wainwright reissued a “buy” rating and issued a $8.50 target price on shares of First Majestic Silver in a research note on Thursday, May 9th.

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.