First Majestic Silver Corp. (NYSE:AG – Free Report) (TSE:FR) – Investment analysts at Scotiabank increased their FY2027 earnings per share (EPS) estimates for First Majestic Silver in a report released on Tuesday, August 4th. Scotiabank analyst E. Winmill now anticipates that the mining company will earn $0.91 per share for the year, up from their previous forecast of $0.90. Scotiabank currently has a “Sector Perform” rating and a $22.50 target price on the stock. The consensus estimate for First Majestic Silver’s current full-year earnings is $0.83 per share.
A number of other analysts also recently issued reports on AG. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. HC Wainwright raised their target price on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.83.
First Majestic Silver Trading Up 7.1%
NYSE:AG opened at $17.65 on Thursday. First Majestic Silver has a twelve month low of $8.28 and a twelve month high of $32.03. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $17.26 and a two-hundred day moving average price of $20.71. The company has a market cap of $8.70 billion, a P/E ratio of 24.87 and a beta of 0.94.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last announced its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The firm’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS.
First Majestic Silver Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.0152 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver’s payout ratio is 9.86%.
Institutional Trading of First Majestic Silver
Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC increased its holdings in shares of First Majestic Silver by 14.0% during the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock worth $258,273,000 after acquiring an additional 2,581,023 shares during the last quarter. Vanguard Group Inc. boosted its position in First Majestic Silver by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock worth $316,914,000 after purchasing an additional 945,067 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of First Majestic Silver by 408.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock valued at $250,821,000 after purchasing an additional 12,081,688 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of First Majestic Silver by 33.6% in the fourth quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock valued at $160,298,000 after purchasing an additional 2,418,513 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of First Majestic Silver by 92.3% in the first quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after purchasing an additional 2,919,008 shares during the period. 27.16% of the stock is owned by institutional investors and hedge funds.
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.
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