Hsbc Holdings PLC Purchases 55,068 Shares of First Majestic Silver Corp. (NYSE:AG)

Hsbc Holdings PLC raised its stake in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 100.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 109,980 shares of the mining company's stock after purchasing an additional 55,068 shares during the period. Hsbc Holdings PLC's holdings in First Majestic Silver were worth $604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of First Majestic Silver by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company's stock worth $19,060,000 after purchasing an additional 121,892 shares during the last quarter. Entruity Wealth LLC bought a new stake in shares of First Majestic Silver during the 4th quarter valued at about $141,000. Capital Fund Management S.A. bought a new stake in shares of First Majestic Silver during the 4th quarter valued at about $2,486,000. Raymond James Financial Inc. bought a new stake in shares of First Majestic Silver during the 4th quarter valued at about $2,442,000. Finally, Renaissance Technologies LLC grew its position in shares of First Majestic Silver by 897.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company's stock valued at $20,638,000 after buying an additional 3,382,443 shares during the last quarter. Institutional investors own 27.16% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AG. HC Wainwright boosted their price objective on shares of First Majestic Silver from $11.00 to $11.50 and gave the company a "buy" rating in a research report on Friday. StockNews.com upgraded shares of First Majestic Silver from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. TD Securities upgraded shares of First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. Scotiabank restated a "sector perform" rating and issued a $6.00 target price on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Finally, National Bankshares restated a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $8.75.

First Majestic Silver Price Performance

Shares of NYSE:AG traded up $0.39 during trading on Friday, reaching $5.90. The company had a trading volume of 21,696,526 shares, compared to its average volume of 12,564,470. The firm's fifty day moving average is $6.31 and its 200 day moving average is $6.11. The firm has a market capitalization of $2.86 billion, a PE ratio of -16.86 and a beta of 0.81. First Majestic Silver Corp. has a twelve month low of $4.43 and a twelve month high of $8.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm's revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.0057 dividend. This represents a $0.02 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's dividend payout ratio is currently -3.45%.

About First Majestic Silver

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.