National Bank Financial Weighs in on First Majestic Silver Corp.’s Q3 2018 Earnings (AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities researchers at National Bank Financial raised their Q3 2018 earnings estimates for shares of First Majestic Silver in a research report issued to clients and investors on Monday, October 15th. National Bank Financial analyst D. Demarco now anticipates that the mining company will earn $0.00 per share for the quarter, up from their previous forecast of ($0.03). National Bank Financial has a “Sector Perform Market Weight” rating on the stock. National Bank Financial also issued estimates for First Majestic Silver’s FY2018 earnings at ($0.12) EPS and FY2019 earnings at $0.15 EPS.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Monday, August 13th. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.40% and a negative net margin of 39.42%. The firm had revenue of $79.70 million for the quarter, compared to analyst estimates of $111.49 million. During the same period in the previous year, the company earned ($0.01) earnings per share. First Majestic Silver’s revenue for the quarter was up 32.6% compared to the same quarter last year.

AG has been the topic of a number of other reports. ValuEngine lowered First Majestic Silver from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Zacks Investment Research lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. HC Wainwright lowered their target price on First Majestic Silver from $11.50 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, July 17th. Roth Capital set a $8.00 target price on First Majestic Silver and gave the stock a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Monday, August 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.75.

Shares of NYSE:AG opened at $6.27 on Thursday. The company has a current ratio of 3.20, a quick ratio of 2.74 and a debt-to-equity ratio of 0.20. First Majestic Silver has a twelve month low of $4.93 and a twelve month high of $8.48. The company has a market cap of $1.10 billion, a PE ratio of -154.00 and a beta of 0.08.

A number of institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in First Majestic Silver by 17.0% during the second quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock worth $182,461,000 after buying an additional 3,471,408 shares in the last quarter. Global X Management Co LLC grew its holdings in First Majestic Silver by 5.3% during the second quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock worth $18,765,000 after buying an additional 123,287 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in First Majestic Silver by 5.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,326,757 shares of the mining company’s stock worth $10,116,000 after buying an additional 62,901 shares in the last quarter. Alps Advisors Inc. grew its holdings in First Majestic Silver by 8.3% during the second quarter. Alps Advisors Inc. now owns 1,054,560 shares of the mining company’s stock worth $7,108,000 after buying an additional 80,767 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in First Majestic Silver by 121.7% during the second quarter. CIBC Asset Management Inc now owns 516,348 shares of the mining company’s stock worth $3,940,000 after buying an additional 283,464 shares in the last quarter. Institutional investors and hedge funds own 25.83% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Earnings History and Estimates for First Majestic Silver (NYSE:AG)

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