Hsbc Holdings PLC Sells 217,765 Shares of First Majestic Silver Corp. $AG

Hsbc Holdings PLC trimmed its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 75.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 69,512 shares of the mining company’s stock after selling 217,765 shares during the quarter. Hsbc Holdings PLC’s holdings in First Majestic Silver were worth $1,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AG. Vanguard Group Inc. grew its holdings in shares of First Majestic Silver by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock valued at $316,914,000 after buying an additional 945,067 shares during the last quarter. PKO Investment Management Joint Stock Co raised its holdings in First Majestic Silver by 50.5% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 238,500 shares of the mining company’s stock worth $3,986,000 after acquiring an additional 80,000 shares during the last quarter. SG Americas Securities LLC raised its holdings in First Majestic Silver by 194.6% in the 4th quarter. SG Americas Securities LLC now owns 131,267 shares of the mining company’s stock worth $2,187,000 after acquiring an additional 86,715 shares during the last quarter. Artemis Investment Management LLP bought a new position in First Majestic Silver in the 4th quarter valued at approximately $45,898,000. Finally, Tudor Investment Corp ET AL lifted its position in First Majestic Silver by 891.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock valued at $3,008,000 after acquiring an additional 220,056 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Price Performance

NYSE AG opened at $16.19 on Tuesday. The company has a 50-day moving average price of $17.78 and a 200-day moving average price of $20.87. First Majestic Silver Corp. has a 52 week low of $7.74 and a 52 week high of $32.03. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $7.98 billion, a P/E ratio of 26.99 and a beta of 0.91.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $476.67 million during the quarter, compared to analysts’ expectations of $522.00 million. First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The business’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. Equities research analysts anticipate that First Majestic Silver Corp. will post 0.8 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were given a $0.0171 dividend. The ex-dividend date was Wednesday, May 20th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a yield of 0.4%. First Majestic Silver’s payout ratio is 11.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AG shares. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. HC Wainwright decreased their target price on shares of First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a research note on Friday, July 10th. ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Finally, Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.