Hsbc Holdings PLC Reduces Position in First Majestic Silver Corp. $AG

Hsbc Holdings PLC trimmed its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 61.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 287,277 shares of the mining company’s stock after selling 464,674 shares during the period. Hsbc Holdings PLC owned about 0.06% of First Majestic Silver worth $4,786,000 as of its most recent SEC filing.

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

First Majestic Silver Trading Up 2.6%

Shares of NYSE AG opened at $16.93 on Friday. First Majestic Silver Corp. has a twelve month low of $7.74 and a twelve month high of $32.03. The firm has a market cap of $8.35 billion, a PE ratio of 28.21 and a beta of 0.86. The business has a fifty day simple moving average of $19.61 and a two-hundred day simple moving average of $20.82. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results 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 firm had revenue of $476.67 million for the quarter, compared to the consensus estimate of $522.00 million. First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.First Majestic Silver’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. Analysts expect that First Majestic Silver Corp. will post 0.74 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Scotiabank raised First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. HC Wainwright boosted 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. Zacks Research cut shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.25.

First Majestic Silver Company 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.