First Majestic Silver Corp Stock Price Down 5.9% Following Weak Earnings (AG)
Shares of First Majestic Silver Corp (NYSE:AG) fell 5.9% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings, AnalystRatingsNetwork reports. The stock traded as low as $10.20 and last traded at $10.28, with a volume of 1,382,449 shares. The stock had previously closed at $10.93.
The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.05. The company had revenue of $66.90 million for the quarter, compared to the consensus estimate of $65.67 million.
A number of analysts have recently weighed in on AG shares. Analysts at Dundee Securities reiterated a “buy” rating on shares of First Majestic Silver Corp in a research note on Monday, August 4th. Separately, analysts at TD Securities raised their price target on shares of First Majestic Silver Corp from C$13.00 to C$13.50 in a research note on Thursday, July 10th. They now have a “hold” rating on the stock. Finally, analysts at TD Securities cut their price target on shares of First Majestic Silver Corp from C$15.50 to C$13.00 in a research note on Thursday, May 15th. They now have a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. First Majestic Silver Corp currently has a consensus rating of “Buy” and an average target price of $13.48.
The stock’s 50-day moving average is $10.55 and its 200-day moving average is $10.20. The company’s market cap is $1.211 billion.
First Majestic Silver Corp. (NYSE:AG) is engaged in acquiring, exploring and developing silver properties and producing silver in Mexico.
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