First Majestic Silver Corp. (NYSE:AG) Expected to Post Q3 2024 Earnings of $0.09 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Cormark increased their Q3 2024 earnings per share (EPS) estimates for First Majestic Silver in a research report issued on Wednesday, July 31st. Cormark analyst R. Gray now anticipates that the mining company will post earnings of $0.09 per share for the quarter, up from their previous forecast of $0.06. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.03) per share. Cormark also issued estimates for First Majestic Silver’s Q4 2024 earnings at $0.09 EPS.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). First Majestic Silver had a negative return on equity of 4.41% and a negative net margin of 15.37%. The company had revenue of $136.20 million for the quarter, compared to the consensus estimate of $129.74 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. First Majestic Silver’s revenue was down 7.2% compared to the same quarter last year.

Several other equities research analysts have also recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 target price on shares of First Majestic Silver in a research report on Friday. Scotiabank raised their price objective on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd.

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $5.06 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $6.31 and a 200-day moving average price of $6.05. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -31.62 and a beta of 1.32. First Majestic Silver has a 12 month low of $4.17 and a 12 month high of $8.44.

Hedge Funds Weigh In On First Majestic Silver

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in First Majestic Silver by 1.2% during the third quarter. Vanguard Group Inc. now owns 9,785,103 shares of the mining company’s stock valued at $50,198,000 after purchasing an additional 113,236 shares during the period. Raymond James & Associates increased its holdings in First Majestic Silver by 4.7% in the 4th quarter. Raymond James & Associates now owns 463,196 shares of the mining company’s stock worth $2,849,000 after acquiring an additional 20,778 shares in the last quarter. International Assets Investment Management LLC raised its stake in First Majestic Silver by 446.6% during the 4th quarter. International Assets Investment Management LLC now owns 148,154 shares of the mining company’s stock worth $911,000 after acquiring an additional 121,049 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in First Majestic Silver by 4.0% during the fourth 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 in the last quarter. Finally, Capital Management Associates Inc bought a new position in shares of First Majestic Silver in the fourth quarter worth approximately $92,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.0046 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, August 16th. First Majestic Silver’s dividend payout ratio is -6.25%.

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.