Morgan Stanley Acquires 383,398 Shares of First Majestic Silver Corp. (NYSE:AG)

Morgan Stanley boosted its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 68.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 944,449 shares of the mining company’s stock after buying an additional 383,398 shares during the period. Morgan Stanley’s holdings in First Majestic Silver Corp. were worth $7,668,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new position in First Majestic Silver Corp. during the first quarter valued at about $102,000. Geneva Advisors LLC raised its position in First Majestic Silver Corp. by 4.1% in the first quarter. Geneva Advisors LLC now owns 12,800 shares of the mining company’s stock valued at $104,000 after buying an additional 500 shares during the last quarter. Confluence Investment Management LLC acquired a new position in First Majestic Silver Corp. during the first quarter valued at about $129,000. Cobblestone Capital Advisors LLC NY acquired a new position in First Majestic Silver Corp. during the first quarter valued at about $134,000. Finally, Exane Derivatives raised its position in First Majestic Silver Corp. by 1,716,700.0% in the first quarter. Exane Derivatives now owns 17,168 shares of the mining company’s stock valued at $139,000 after buying an additional 17,167 shares during the last quarter. 26.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Majestic Silver Corp. (AG) traded down 3.26% on Friday, reaching $6.52. 5,693,198 shares of the company traded hands. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 83.59 and a beta of 0.30. The company has a 50-day moving average of $7.65 and a 200-day moving average of $8.39. First Majestic Silver Corp. has a 1-year low of $5.92 and a 1-year high of $18.18.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, August 3rd. The mining company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.07. First Majestic Silver Corp. had a net margin of 5.11% and a return on equity of 1.60%. The firm had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $77.62 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. Analysts anticipate that First Majestic Silver Corp. will post $0.02 earnings per share for the current fiscal year.

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A number of equities analysts recently weighed in on AG shares. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of First Majestic Silver Corp. in a report on Friday, August 4th. Zacks Investment Research upgraded shares of First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub upgraded shares of First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. National Bank Financial reiterated an “outperform market weight” rating on shares of First Majestic Silver Corp. in a research note on Friday, May 5th. Finally, Scotiabank reiterated a “sector perform” rating and set a $13.00 target price on shares of First Majestic Silver Corp. in a research note on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $16.20.

About First Majestic Silver Corp.

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

Institutional Ownership by Quarter for First Majestic Silver Corp. (NYSE:AG)

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