Y Intercept Hong Kong Ltd Has $6.77 Million Stake in First Majestic Silver Corp. $AG

Y Intercept Hong Kong Ltd boosted its holdings in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 650.6% in the second quarter, HoldingsChannel reports. The firm owned 818,442 shares of the mining company’s stock after acquiring an additional 709,403 shares during the period. Y Intercept Hong Kong Ltd’s holdings in First Majestic Silver were worth $6,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new stake in First Majestic Silver during the 1st quarter valued at $29,000. CWM LLC increased its holdings in First Majestic Silver by 57.2% during the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after purchasing an additional 1,860 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in First Majestic Silver during the 1st quarter valued at $46,000. American National Bank & Trust acquired a new stake in First Majestic Silver during the 2nd quarter valued at $66,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in First Majestic Silver during the 1st quarter valued at $79,000. 27.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AG has been the subject of a number of recent research reports. National Bankshares set a $22.00 target price on First Majestic Silver and gave the stock an “outperform” rating in a research report on Monday, October 6th. National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Wall Street Zen upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research report on Tuesday, October 7th. Finally, HC Wainwright set a $17.50 target price on First Majestic Silver in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Stock Performance

AG stock opened at $12.44 on Tuesday. The business’s 50-day moving average price is $11.28 and its two-hundred day moving average price is $8.81. The company has a current ratio of 3.27, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $6.10 billion, a PE ratio of -1,242.76 and a beta of 0.76. First Majestic Silver Corp. has a 1-year low of $5.09 and a 1-year high of $15.69.

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

First Majestic Silver Cuts Dividend

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

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.