Equities Analysts Set Expectations for AG FY2024 Earnings

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Research analysts at Scotiabank issued their FY2024 EPS estimates for First Majestic Silver in a report released on Wednesday, January 8th. Scotiabank analyst O. Habib expects that the mining company will post earnings of ($0.15) per share for the year. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.17) per share. Scotiabank also issued estimates for First Majestic Silver’s FY2025 earnings at $0.18 EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, January 10th.

First Majestic Silver Stock Up 5.2 %

AG stock opened at $5.84 on Monday. First Majestic Silver has a 1-year low of $4.17 and a 1-year high of $8.44. The business has a fifty day moving average price of $6.04 and a 200-day moving average price of $6.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45. The stock has a market capitalization of $1.76 billion, a P/E ratio of -21.63 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The firm had revenue of $146.09 million during the quarter.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.0048 dividend. This represents a $0.02 annualized dividend and a yield of 0.33%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 15th. First Majestic Silver’s payout ratio is presently -3.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of First Majestic Silver by 2.7% during the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock valued at $173,478,000 after buying an additional 764,790 shares during the period. Marshall Wace LLP purchased a new stake in First Majestic Silver in the second quarter valued at approximately $3,904,000. Barclays PLC purchased a new stake in First Majestic Silver in the third quarter valued at approximately $2,419,000. Quantbot Technologies LP purchased a new stake in First Majestic Silver in the third quarter valued at approximately $2,057,000. Finally, XTX Topco Ltd raised its position in First Majestic Silver by 1,510.1% in the third quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock valued at $1,630,000 after purchasing an additional 254,870 shares during the period. 27.16% 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 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.