First Majestic Silver Corp. (TSE:FR) (NYSE:AG) – Analysts at Cormark cut their Q1 2019 earnings per share estimates for shares of First Majestic Silver in a research note issued on Tuesday, August 14th. Cormark analyst R. Gray now anticipates that the mining company will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.12. Cormark currently has a “C$9.03” rating and a $13.00 target price on the stock. Cormark also issued estimates for First Majestic Silver’s Q2 2019 earnings at $0.07 EPS, Q3 2019 earnings at $0.08 EPS and Q4 2019 earnings at $0.08 EPS.
A number of other research analysts have also recently issued reports on FR. Roth Capital reissued a “buy” rating on shares of First Majestic Silver in a report on Wednesday, April 25th. TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$11.00 to C$14.00 in a report on Tuesday, May 15th. National Bank Financial lifted their price objective on First Majestic Silver from C$9.75 to C$11.50 in a report on Saturday, July 14th. Finally, BMO Capital Markets cut their price objective on First Majestic Silver from C$9.25 to C$8.75 and set a “market perform” rating for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$10.94.
In other news, insider Martin Ernesto Palacios sold 46,600 shares of the firm’s stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of C$10.01, for a total value of C$466,466.00. Also, insider Raymond L. Polman sold 125,000 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of C$10.04, for a total value of C$1,255,000.00. Over the last 90 days, insiders bought 14,101 shares of company stock valued at $117,494 and sold 180,900 shares valued at $1,810,647.
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 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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