First Majestic Silver Corp. $AG Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in First Majestic Silver by 61.8% in the fourth quarter, selling 464,674 shares and leaving it with 287,277 shares worth about $4.8 million.
• Analysts remain cautiously positive overall, with a consensus rating of “Moderate Buy” and an average price target of $25.25, though several firms recently downgraded the stock to hold.
• First Majestic reported mixed quarterly results, missing EPS and revenue estimates, but revenue still jumped 95.3% year over year; the company also increased its quarterly dividend to $0.0171 per share.

Hsbc Holdings PLC cut its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 61.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,277 shares of the mining company's stock after selling 464,674 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of First Majestic Silver worth $4,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AG. Lodestone Wealth Management LLC bought a new stake in shares of First Majestic Silver in the 4th quarter worth approximately $25,000. EFG International AG acquired a new position in First Majestic Silver in the fourth quarter worth approximately $25,000. Spire Wealth Management bought a new position in shares of First Majestic Silver in the fourth quarter valued at $35,000. Aventura Private Wealth LLC bought a new position in shares of First Majestic Silver in the fourth quarter valued at $42,000. Finally, Trust Co. of Vermont acquired a new stake in shares of First Majestic Silver during the 4th quarter valued at $43,000. 27.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AG. Zacks Research lowered First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. HC Wainwright boosted their target price on First Majestic Silver to $30.75 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Scotiabank raised First Majestic Silver to a "hold" rating in a report on Thursday, April 23rd. BMO Capital Markets upgraded First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. Finally, Wall Street Zen cut First Majestic Silver from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.25.

First Majestic Silver Trading Up 8.8%

Shares of NYSE AG opened at $17.19 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a one year low of $7.74 and a one year high of $32.03. The business has a 50-day moving average price of $18.96 and a two-hundred day moving average price of $20.92. The firm has a market capitalization of $8.47 billion, a PE ratio of 28.65 and a beta of 0.91.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The business had revenue of $476.67 million during the quarter, compared to analyst estimates 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 prior year, the company earned $0.05 EPS. As a group, analysts predict that First Majestic Silver Corp. will post 0.74 earnings per share 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 $0.0171 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.07 annualized dividend and a yield of 0.4%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.