Synovus Financial Corp Invests $452,000 in First Majestic Silver Corp. (NYSE:AG)

Synovus Financial Corp bought a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 75,400 shares of the mining company’s stock, valued at approximately $452,000.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of First Majestic Silver by 2.7% during the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after acquiring an additional 764,790 shares during the last quarter. Marshall Wace LLP purchased a new position in First Majestic Silver during the second quarter valued at $3,904,000. Barclays PLC purchased a new stake in First Majestic Silver in the third quarter worth about $2,419,000. Quantbot Technologies LP purchased a new stake in First Majestic Silver in the third quarter worth about $2,057,000. Finally, XTX Topco Ltd raised its stake in shares of First Majestic Silver by 1,510.1% in the third quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock worth $1,630,000 after buying an additional 254,870 shares during the period. Institutional investors own 27.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AG. HC Wainwright reissued a “buy” rating and issued a $8.50 target price on shares of First Majestic Silver in a report on Friday, October 18th. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th.

First Majestic Silver Stock Performance

NYSE AG opened at $5.50 on Thursday. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. First Majestic Silver Corp. has a twelve month low of $4.17 and a twelve month high of $8.44. The business has a 50-day moving average price of $6.63 and a 200-day moving average price of $6.18. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -20.37 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). The business had revenue of $146.09 million during the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. As a group, equities research analysts predict that First Majestic Silver Corp. will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a yield of 0.35%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 15th. First Majestic Silver’s dividend payout ratio (DPR) is presently -3.70%.

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.