Q2 2024 Earnings Forecast for First Majestic Silver Corp. Issued By Cormark (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Investment analysts at Cormark reduced their Q2 2024 EPS estimates for shares of 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 post earnings per share of $0.03 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.

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

Several other brokerages have also recently weighed in on AG. StockNews.com raised shares of First Majestic Silver to a “sell” rating in a research report on Monday, February 26th. HC Wainwright increased their price target on shares of First Majestic Silver from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Friday.

First Majestic Silver Price Performance

AG stock opened at $6.74 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.04 and a current ratio of 2.57. First Majestic Silver has a 52 week low of $4.17 and a 52 week high of $8.44. The firm’s fifty day moving average is $5.71 and its 200 day moving average is $5.50. The firm has a market cap of $1.94 billion, a P/E ratio of -14.04 and a beta of 1.43.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its position in shares of First Majestic Silver by 105,048.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 47,055,036 shares of the mining company’s stock worth $392,439,000 after purchasing an additional 47,010,285 shares during the period. Van ECK Associates Corp lifted its position in shares of First Majestic Silver by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 30,341,845 shares of the mining company’s stock worth $186,600,000 after purchasing an additional 709,879 shares during the period. Vanguard Group Inc. lifted its position in shares of 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 during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 worth $43,071,000 after purchasing an additional 266,864 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of First Majestic Silver by 17.0% in 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 during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.0048 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.02 annualized dividend and a yield of 0.28%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is presently -2.08%.

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 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.