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First Majestic Silver Sees Unusually High Options Volume (NYSE:AG)

kopsource · Sep 12, 2022 14:42

First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) was the target of unusually large options trading activity on Monday. Investors bought 16,850 call options on the stock. This represents an increase of approximately 20% compared to the average daily volume of 14,017 call options.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of the stock. Tobam increased its holdings in First Majestic Silver by 78.6% in the first quarter. Tobam now owns 81,949 shares of the mining company's stock valued at $1,078,000 after buying an additional 36,070 shares during the last quarter. Swiss National Bank grew its holdings in shares of First Majestic Silver by 7.7% during the 1st quarter. Swiss National Bank now owns 549,600 shares of the mining company's stock valued at $7,216,000 after acquiring an additional 39,300 shares in the last quarter. Parametrica Management Ltd bought a new stake in First Majestic Silver in the first quarter worth $242,000. HighTower Advisors LLC raised its position in shares of First Majestic Silver by 27.8% during the first quarter. HighTower Advisors LLC now owns 174,657 shares of the mining company's stock valued at $2,300,000 after buying an additional 37,950 shares during the last quarter. Finally, Seven Eight Capital LP raised its position in First Majestic Silver by 467.1% in the first quarter. Seven Eight Capital LP now owns 367,439 shares of the mining company's stock worth $4,835,000 after purchasing an additional 302,652 shares in the last quarter. Hedge funds and other institutional investors own 30.62% of the company's stock.

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First Majestic Silver Stock Up 5.1 %

AG stock traded up $0.41 during trading on Monday, reaching $8.45. 318,583 shares of the company traded hands, compared to its average volume of 5,967,809. The business has a 50 day simple moving average of $7.45 and a 200 day simple moving average of $9.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.98 and a current ratio of 2.46. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -22.79 and a beta of 1.02. First Majestic Silver has a 12 month low of $6.31 and a 12 month high of $14.67.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th were given a $0.0061 dividend. The ex-dividend date was Monday, August 15th. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.29%. First Majestic Silver's dividend payout ratio is -5.26%.

Analysts Set New Price Targets

AG has been the subject of a number of recent analyst reports. National Bank Financial cut their price target on shares of First Majestic Silver from C$18.00 to C$11.75 in a research note on Thursday, July 21st. HC Wainwright cut their price target on shares of First Majestic Silver from $19.50 to $12.50 and set a "buy" rating for the company in a research note on Monday, July 25th. Finally, BMO Capital Markets reduced their target price on shares of First Majestic Silver from C$10.00 to C$9.50 in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.44.

About First Majestic Silver

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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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.