FY2024 EPS Estimate for First Majestic Silver Cut by Analyst

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

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

First Majestic Silver Stock Down 0.8 %

First Majestic Silver stock opened at $5.35 on Thursday. The company has a 50 day moving average of $5.68 and a 200-day moving average of $6.01. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. First Majestic Silver has a twelve month low of $4.28 and a twelve month high of $8.44. The stock has a market capitalization of $1.67 billion, a PE ratio of -19.80 and a beta of 1.24.

Institutional Trading of First Majestic Silver

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its position in First Majestic Silver by 135.2% during the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock valued at $74,647,000 after purchasing an additional 7,816,177 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of First Majestic Silver by 897.8% in 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. Two Sigma Investments LP grew its stake in shares of First Majestic Silver by 46.8% in the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock valued at $24,463,000 after buying an additional 1,420,937 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in First Majestic Silver by 115.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 1,520,359 shares of the mining company’s stock worth $8,347,000 after buying an additional 814,153 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in First Majestic Silver by 2.7% during the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after acquiring an additional 764,790 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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.