First Majestic Silver Corp. $AG Holdings Raised by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in First Majestic Silver Corp. by 153.5% in Q1, owning approximately 0.06% of the company valued at $1.88 million.
• First Majestic Silver reported $0.04 earnings per share, missing analysts' estimates of $0.06, with a revenue of $264.2 million, significantly below the anticipated $387.25 million.
• The company recently declared a quarterly dividend of $0.0048, reflecting a 0.2% yield and a payout ratio of -200.00%.

Hsbc Holdings PLC grew its position in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 153.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,750 shares of the mining company's stock after acquiring an additional 168,770 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of First Majestic Silver worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of First Majestic Silver by 1,221.6% in the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock valued at $25,000 after acquiring an additional 3,506 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in First Majestic Silver during the 1st quarter worth $46,000. Captrust Financial Advisors bought a new position in First Majestic Silver during the 4th quarter worth $58,000. Focus Financial Network Inc. bought a new position in First Majestic Silver during the 1st quarter worth $67,000. Finally, Littlejohn Financial Services Inc. bought a new position in First Majestic Silver during the 1st quarter worth $68,000. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Trading Up 0.7%

Shares of AG stock opened at $9.08 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. First Majestic Silver Corp. has a 1 year low of $4.59 and a 1 year high of $9.48. The stock has a fifty day moving average of $8.54 and a two-hundred day moving average of $7.10. The firm has a market capitalization of $4.42 billion, a PE ratio of -906.79 and a beta of 0.72.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. During the same quarter last year, the firm posted ($0.07) EPS. The company's revenue was up 94.0% compared to the same quarter last year. As a group, research analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.0048 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. First Majestic Silver's dividend payout ratio is -200.00%.

Analyst Ratings Changes

A number of brokerages recently commented on AG. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. Scotiabank upped their price objective on First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Finally, HC Wainwright restated a "buy" rating and set a $12.75 price objective on shares of First Majestic Silver in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $9.63.

First Majestic Silver Company 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.

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