Y Intercept Hong Kong Ltd Has $6.77 Million Stock Position in First Majestic Silver Corp. $AG

Y Intercept Hong Kong Ltd raised its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 650.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 818,442 shares of the mining company’s stock after buying an additional 709,403 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.17% of First Majestic Silver worth $6,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its holdings in First Majestic Silver by 66.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company’s stock valued at $675,000 after buying an additional 40,228 shares during the last quarter. Capital Management Associates Inc acquired a new stake in First Majestic Silver in the 2nd quarter valued at approximately $333,000. Bayforest Capital Ltd grew its holdings in First Majestic Silver by 1,978.6% in the 1st quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock valued at $1,431,000 after buying an additional 203,555 shares during the last quarter. Alps Advisors Inc. acquired a new stake in First Majestic Silver in the 1st quarter valued at approximately $1,935,000. Finally, Marotta Asset Management acquired a new stake in First Majestic Silver in the 2nd quarter valued at approximately $633,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AG. Scotiabank raised their price objective on First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, October 8th. TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. National Bankshares set a $22.00 price objective on First Majestic Silver and gave the stock an “outperform” rating in a research report on Monday, October 6th. Finally, Wall Street Zen upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $12.44 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The company has a market capitalization of $6.10 billion, a PE ratio of -1,242.76 and a beta of 0.76. First Majestic Silver Corp. has a one year low of $5.09 and a one year high of $15.69. The business has a 50 day simple moving average of $11.28 and a 200 day simple moving average of $8.81.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.First Majestic Silver’s quarterly revenue was up 94.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.07) EPS. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, August 29th. First Majestic Silver’s dividend payout ratio (DPR) is -200.00%.

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.