Q2 2024 EPS Estimates for First Majestic Silver Corp. Reduced by Cormark (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Investment analysts at Cormark reduced their Q2 2024 EPS estimates for First Majestic Silver in a research report issued to clients and investors on Wednesday, April 17th. Cormark analyst R. Gray now anticipates that the mining company will earn $0.03 per share for the quarter, down from their previous estimate of $0.04. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.06) per share.

A number of other research firms have also recently weighed in on AG. HC Wainwright dropped their price target on First Majestic Silver from $12.00 to $6.75 and set a “buy” rating on the stock in a research note on Friday, January 19th. StockNews.com raised shares of First Majestic Silver to a “sell” rating in a research report on Monday, February 26th.

First Majestic Silver Stock Performance

AG opened at $6.85 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.57 and a debt-to-equity ratio of 0.18. First Majestic Silver has a 12-month low of $4.17 and a 12-month high of $8.44. The business has a 50 day moving average of $5.62 and a 200-day moving average of $5.48. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -14.26 and a beta of 1.43.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $136.95 million during the quarter. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. During the same quarter last year, the business posted ($0.07) earnings per share.

Institutional Trading of First Majestic Silver

Institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of First Majestic Silver by 105,048.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 47,055,036 shares of the mining company’s stock worth $392,439,000 after buying an additional 47,010,285 shares in the last quarter. Van ECK Associates Corp increased its position in First Majestic Silver by 2.4% during the fourth quarter. Van ECK Associates Corp now owns 30,341,845 shares of the mining company’s stock worth $186,600,000 after acquiring an additional 709,879 shares during the period. Vanguard Group Inc. raised its stake in First Majestic Silver by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 10,265,051 shares of the mining company’s stock worth $63,130,000 after purchasing an additional 479,948 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in First Majestic Silver by 4.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,985,680 shares of the mining company’s stock valued at $43,071,000 after purchasing an additional 266,864 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of First Majestic Silver by 17.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,820,270 shares of the mining company’s stock worth $17,345,000 after purchasing an additional 409,050 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.0048 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -4.17%.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.