First Majestic Silver (NYSE:AG) (TSE:FR) – Equities researchers at National Bank Financial boosted their Q1 2018 earnings per share estimates for First Majestic Silver in a research note issued to investors on Monday, April 9th. National Bank Financial analyst S. Nagle now anticipates that the mining company will post earnings per share of $0.03 for the quarter, up from their previous estimate of ($0.03). National Bank Financial currently has a “Sector Perform” rating on the stock. National Bank Financial also issued estimates for First Majestic Silver’s FY2018 earnings at $0.03 EPS.
First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Wednesday, February 28th. The mining company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). First Majestic Silver had a negative net margin of 21.12% and a negative return on equity of 1.00%. The firm had revenue of $61.17 million for the quarter, compared to the consensus estimate of $65.00 million.
AG opened at $6.52 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.79 and a current ratio of 3.14. First Majestic Silver has a fifty-two week low of $4.93 and a fifty-two week high of $9.59. The stock has a market cap of $1,050.70, a P/E ratio of -163.00 and a beta of 0.20.
First Majestic Silver announced that its board has initiated a share repurchase program on Monday, March 19th that authorizes the company to buyback 8,290,000 shares. This buyback authorization authorizes the mining company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of AG. Virtu Financial LLC increased its holdings in First Majestic Silver by 176.3% during the third quarter. Virtu Financial LLC now owns 48,709 shares of the mining company’s stock worth $143,000 after buying an additional 31,080 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in First Majestic Silver during the fourth quarter worth about $215,000. Tower Research Capital LLC TRC increased its holdings in First Majestic Silver by 170.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock worth $215,000 after buying an additional 20,064 shares during the last quarter. Cypress Wealth Services LLC purchased a new stake in First Majestic Silver during the fourth quarter worth about $294,000. Finally, LPL Financial LLC purchased a new stake in First Majestic Silver during the fourth quarter worth about $311,000. Institutional investors and hedge funds own 29.46% of the company’s stock.
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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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