Hsbc Holdings PLC Increases Position in First Majestic Silver Corp. (NYSE:AG)

Hsbc Holdings PLC boosted its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,002 shares of the mining company’s stock after purchasing an additional 7,371 shares during the quarter. Hsbc Holdings PLC’s holdings in First Majestic Silver were worth $610,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AG. Dimensional Fund Advisors LP lifted its holdings in First Majestic Silver by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock valued at $18,701,000 after purchasing an additional 103,232 shares in the last quarter. Rathbones Group PLC boosted its holdings in First Majestic Silver by 15.9% in the 2nd quarter. Rathbones Group PLC now owns 54,107 shares of the mining company’s stock worth $320,000 after buying an additional 7,415 shares during the last quarter. Choreo LLC boosted its holdings in First Majestic Silver by 267.1% in the 2nd quarter. Choreo LLC now owns 71,796 shares of the mining company’s stock worth $414,000 after buying an additional 52,239 shares during the last quarter. Caprock Group LLC purchased a new stake in First Majestic Silver during the 2nd quarter worth approximately $503,000. Finally, Oxbow Advisors LLC raised its holdings in shares of First Majestic Silver by 83.5% during the second quarter. Oxbow Advisors LLC now owns 34,777 shares of the mining company’s stock valued at $206,000 after acquiring an additional 15,825 shares during the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Price Performance

NYSE:AG opened at $6.00 on Tuesday. First Majestic Silver Corp. has a one year low of $4.17 and a one year high of $8.44. The stock has a market cap of $1.74 billion, a PE ratio of -37.50 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. The stock has a 50 day moving average price of $5.63 and a 200 day moving average price of $6.29.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $136.20 million during the quarter, compared to analyst estimates of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business earned ($0.02) earnings per share. Equities research analysts expect that First Majestic Silver Corp. will post -0.13 EPS for the current fiscal year.

First Majestic Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.0046 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, August 16th. First Majestic Silver’s dividend payout ratio (DPR) is presently -6.25%.

Wall Street Analyst Weigh In

Several analysts recently commented on AG shares. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $8.50 target price on shares of First Majestic Silver in a report on Friday, September 6th.

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.