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

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC increased its position in shares of First Majestic Silver by 14.0% during the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock valued at $258,273,000 after buying an additional 2,581,023 shares during the period. Vanguard Group Inc. lifted its holdings in First Majestic Silver by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock worth $316,914,000 after buying an additional 945,067 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in First Majestic Silver by 408.1% during the 4th 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 in the last quarter. Alps Advisors Inc. boosted its position in 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 acquiring an additional 2,418,513 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of First Majestic Silver by 9.8% during the 4th quarter. Teacher Retirement System of Texas now owns 4,918,000 shares of the mining company’s stock worth $81,934,000 after acquiring an additional 437,000 shares during the period. 27.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AG. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Scotiabank dropped their price target on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday. Finally, HC Wainwright decreased their price objective on First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, First Majestic Silver presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

First Majestic Silver Price Performance

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

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

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.0171 per share. The ex-dividend date was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. 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 presently 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.