Cormark Research Analysts Decrease Earnings Estimates for AG

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Research analysts at Cormark decreased their FY2024 EPS estimates for shares of First Majestic Silver in a research note issued on Tuesday, February 18th. Cormark analyst R. Gray now expects that the mining company will post earnings per share of ($0.13) for the year, down from their previous forecast of ($0.06). The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.16) per share.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%.

Several other research analysts have also recently issued reports on AG. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research report on Friday, January 10th. Scotiabank lowered their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th.

First Majestic Silver Stock Up 7.4 %

First Majestic Silver stock opened at $5.77 on Thursday. First Majestic Silver has a 1-year low of $4.28 and a 1-year high of $8.44. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -21.35 and a beta of 1.24. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $5.68 and its two-hundred day moving average price is $6.01.

Institutional Trading of First Majestic Silver

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in shares of First Majestic Silver by 805.4% in the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after buying an additional 4,591 shares in the last quarter. Blue Trust Inc. increased its position in shares of First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after acquiring an additional 2,253 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of First Majestic Silver during the fourth quarter valued at approximately $55,000. Bank of Nova Scotia purchased a new stake in First Majestic Silver in the fourth quarter worth about $57,000. Finally, Captrust Financial Advisors bought a new stake in shares of First Majestic Silver during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

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.