Q2 2024 Earnings Estimate for First Majestic Silver Corp. Issued By Cormark (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Analysts at Cormark decreased their Q2 2024 earnings per share (EPS) estimates for shares of First Majestic Silver in a report issued on Wednesday, April 17th. Cormark analyst R. Gray now anticipates that the mining company will earn $0.03 per share for the quarter, down from their previous estimate of $0.04. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.06) per share.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 22nd. The mining company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $136.95 million during the quarter. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. During the same quarter in the previous year, the firm posted ($0.07) earnings per share.

Several other equities analysts have also issued reports on the company. HC Wainwright decreased their price target on First Majestic Silver from $12.00 to $6.75 and set a “buy” rating on the stock in a research note on Friday, January 19th. StockNews.com upgraded First Majestic Silver to a “sell” rating in a research report on Monday, February 26th.

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $6.77 on Thursday. The company’s 50 day simple moving average is $5.66 and its 200 day simple moving average is $5.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04. First Majestic Silver has a 1 year low of $4.17 and a 1 year high of $8.44. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -14.10 and a beta of 1.43.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is presently -4.17%.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds have recently modified their holdings of AG. Coppell Advisory Solutions LLC acquired a new stake in First Majestic Silver during the 2nd quarter worth approximately $27,000. CWM LLC lifted its holdings in shares of First Majestic Silver by 59.7% during the third quarter. CWM LLC now owns 5,433 shares of the mining company’s stock worth $28,000 after purchasing an additional 2,030 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of First Majestic Silver by 19,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,000 shares of the mining company’s stock worth $33,000 after purchasing an additional 3,980 shares during the last quarter. Money Concepts Capital Corp acquired a new stake in First Majestic Silver in the fourth quarter valued at $33,000. Finally, Coppell Advisory Solutions Corp. bought a new position in First Majestic Silver during the 4th quarter worth $42,000. Institutional investors and hedge funds 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.