Hsbc Holdings PLC Has $4.79 Million Stock Position in First Majestic Silver Corp. $AG

Hsbc Holdings PLC reduced its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 61.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 287,277 shares of the mining company’s stock after selling 464,674 shares during the quarter. Hsbc Holdings PLC’s holdings in First Majestic Silver were worth $4,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in First Majestic Silver by 408.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock valued at $250,821,000 after acquiring an additional 12,081,688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of First Majestic Silver by 38.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock worth $232,539,000 after purchasing an additional 5,265,612 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of First Majestic Silver during the 4th quarter worth $45,898,000. Tidal Investments LLC raised its holdings in shares of First Majestic Silver by 14.0% during the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock valued at $258,273,000 after purchasing an additional 2,581,023 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of First Majestic Silver by 33.6% during the 4th quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock valued at $160,298,000 after purchasing an additional 2,418,513 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AG shares. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. Finally, HC Wainwright increased their price objective on First Majestic Silver to $30.75 and gave the company a “buy” rating in a report 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.25.

First Majestic Silver Trading Up 8.8%

Shares of NYSE:AG opened at $17.19 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. The stock’s 50-day moving average is $18.96 and its 200-day moving average is $20.92. The company has a market cap of $8.47 billion, a P/E ratio of 28.65 and a beta of 0.91. First Majestic Silver Corp. has a 52-week low of $7.74 and a 52-week high of $32.03.

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 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 for the quarter, compared to analyst estimates of $522.00 million. During the same period in the prior year, the firm posted $0.05 EPS. First Majestic Silver’s revenue for the quarter was up 95.3% on a year-over-year basis. Equities research analysts predict that First Majestic Silver Corp. will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

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

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.