First Majestic Silver Corp. (NYSE:AG) Short Interest Update

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 30,410,000 shares, a growth of 7.0% from the September 30th total of 28,420,000 shares. Based on an average daily trading volume, of 9,260,000 shares, the short-interest ratio is presently 3.3 days.

First Majestic Silver Stock Down 0.8 %

Shares of First Majestic Silver stock traded down $0.06 during trading on Friday, reaching $7.32. The company’s stock had a trading volume of 4,994,397 shares, compared to its average volume of 8,232,626. The firm’s 50-day moving average is $6.28 and its two-hundred day moving average is $6.37. First Majestic Silver has a 52-week low of $4.17 and a 52-week high of $8.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.05 and a quick ratio of 2.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. The company had revenue of $136.20 million during the quarter, compared to the consensus estimate of $129.74 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, research analysts predict that First Majestic Silver will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its stake in First Majestic Silver by 15.5% in the first quarter. Geneos Wealth Management Inc. now owns 78,327 shares of the mining company’s stock worth $461,000 after buying an additional 10,500 shares in the last quarter. Oxbow Advisors LLC purchased a new position in shares of First Majestic Silver in the 1st quarter valued at approximately $111,000. Quantbot Technologies LP boosted its position in shares of First Majestic Silver by 43.2% during the first quarter. Quantbot Technologies LP now owns 183,864 shares of the mining company’s stock valued at $1,081,000 after purchasing an additional 55,453 shares in the last quarter. SG Americas Securities LLC grew its stake in First Majestic Silver by 145.4% in the first quarter. SG Americas Securities LLC now owns 424,917 shares of the mining company’s stock worth $2,499,000 after purchasing an additional 251,741 shares during the period. Finally, Vanguard Group Inc. raised its holdings in First Majestic Silver by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock worth $61,456,000 after purchasing an additional 186,570 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AG has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $8.50 price objective on shares of First Majestic Silver in a research note on Friday, October 18th. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th.

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.