First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Analysts at National Bank Financial cut their FY2021 earnings per share estimates for shares of First Majestic Silver in a note issued to investors on Monday, May 20th. National Bank Financial analyst D. Demarco now forecasts that the mining company will post earnings of $0.18 per share for the year, down from their previous estimate of $0.27.
First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, May 9th. The mining company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). First Majestic Silver had a negative return on equity of 4.63% and a negative net margin of 59.46%. The company had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $124.73 million. During the same period last year, the firm posted ($0.03) earnings per share. First Majestic Silver’s revenue was up 48.1% compared to the same quarter last year.
Several other research analysts have also recently issued reports on AG. Zacks Investment Research cut First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. HC Wainwright set a $8.00 target price on First Majestic Silver and gave the stock a “buy” rating in a research report on Wednesday, April 17th. ValuEngine cut First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. BMO Capital Markets reissued a “hold” rating on shares of First Majestic Silver in a research report on Tuesday, April 2nd. Finally, B. Riley started coverage on First Majestic Silver in a research report on Friday, March 1st. They issued a “neutral” rating and a $6.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $7.60.
First Majestic Silver stock opened at $5.77 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.78 and a current ratio of 3.24. First Majestic Silver has a one year low of $4.59 and a one year high of $8.48. The firm has a market cap of $1.15 billion, a P/E ratio of -27.48 and a beta of -0.17.
In other news, major shareholder Vinita Lee Piper bought 22,055 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average cost of $5.93 per share, with a total value of $130,786.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.
Large investors have recently made changes to their positions in the business. Nordea Investment Management AB purchased a new position in First Majestic Silver in the first quarter worth about $27,000. Kore Private Wealth LLC purchased a new position in shares of First Majestic Silver during the 1st quarter valued at about $66,000. IHT Wealth Management LLC purchased a new position in shares of First Majestic Silver during the 4th quarter valued at about $70,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of First Majestic Silver during the 4th quarter valued at about $109,000. Finally, QCM Cayman Ltd. purchased a new position in shares of First Majestic Silver during the 1st quarter valued at about $168,000. 26.20% of the stock is currently owned by institutional investors and hedge funds.
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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