First Majestic Silver (TSE:AG) Trading Down 4.8% – Here’s Why

First Majestic Silver Corp. (TSE:AG) shares traded down 4.8% on Wednesday . The company traded as low as C$21.84 and last traded at C$21.89. 1,705,269 shares changed hands during trading, a decline of 16% from the average session volume of 2,026,928 shares. The stock had previously closed at C$23.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank raised First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. BMO Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to an “outperform” rating and set a C$35.00 price target for the company in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$33.40.

First Majestic Silver Stock Down 4.8%

The company has a market cap of C$10.81 billion, a price-to-earnings ratio of 37.10 and a beta of 2.66. The company has a 50 day moving average price of C$28.29 and a 200-day moving average price of C$28.31.

First Majestic Silver (TSE:AG) last released its earnings results on Tuesday, May 12th. The company reported C$0.43 earnings per share for the quarter. The business had revenue of C$662.71 million during the quarter. First Majestic Silver had a net margin of 19.45% and a return on equity of 10.82%. On average, analysts forecast that First Majestic Silver Corp. will post 0.4623323 EPS for the current fiscal year.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.