Hsbc Holdings PLC Sells 464,674 Shares of First Majestic Silver Corp. $AG

Hsbc Holdings PLC lowered its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 61.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 287,277 shares of the mining company’s stock after selling 464,674 shares during the period. Hsbc Holdings PLC’s holdings in First Majestic Silver were worth $4,786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AG. Lodestone Wealth Management LLC purchased a new position in shares of First Majestic Silver in the 4th quarter valued at $25,000. EFG International AG bought a new stake in First Majestic Silver during the fourth quarter valued at about $25,000. Spire Wealth Management bought a new stake in First Majestic Silver during the fourth quarter valued at about $35,000. Aventura Private Wealth LLC purchased a new position in First Majestic Silver in the fourth quarter valued at about $42,000. Finally, Trust Co. of Vermont bought a new position in First Majestic Silver in the fourth quarter worth about $43,000. Institutional investors own 27.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AG shares. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, HC Wainwright raised their target price on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.25.

First Majestic Silver Trading Up 2.6%

Shares of NYSE:AG opened at $16.93 on Friday. The business’s 50-day moving average is $19.61 and its 200 day moving average is $20.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. First Majestic Silver Corp. has a 1 year low of $7.74 and a 1 year high of $32.03. The firm has a market capitalization of $8.35 billion, a P/E ratio of 28.21 and a beta of 0.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The business had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. During the same period in the prior year, the business posted $0.05 EPS. First Majestic Silver’s revenue was up 95.3% compared to the same quarter last year. On average, research analysts predict that First Majestic Silver Corp. will post 0.74 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were paid a $0.0171 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 20th. This represents a $0.07 dividend on an annualized basis and a yield of 0.4%. First Majestic Silver’s dividend payout ratio (DPR) is 11.67%.

First Majestic Silver Profile

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.