Cormark Research Analysts Reduce Earnings Estimates for First Majestic Silver Corp. (AG)

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First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities researchers at Cormark reduced their Q3 2019 earnings per share estimates for shares of First Majestic Silver in a note issued to investors on Tuesday, October 16th, Zacks Investment Research reports. Cormark analyst R. Gray now anticipates that the mining company will earn $0.05 per share for the quarter, down from their prior forecast of $0.06. Cormark also issued estimates for First Majestic Silver’s Q4 2019 earnings at $0.05 EPS.

Several other equities analysts have also weighed in on AG. Zacks Investment Research upgraded shares of First Majestic Silver from a “strong sell” rating to a “hold” rating in a research report on Friday, October 26th. HC Wainwright set a $9.00 price target on shares of First Majestic Silver and gave the company a “buy” rating in a research report on Thursday. TD Securities restated a “buy” rating on shares of First Majestic Silver in a research report on Thursday. National Bank Financial restated a “sector perform market weight” rating on shares of First Majestic Silver in a research report on Monday, August 13th. Finally, Credit Suisse Group lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. First Majestic Silver has a consensus rating of “Buy” and a consensus price target of $8.75.

AG traded down $0.14 during trading on Wednesday, hitting $5.40. 2,589,378 shares of the company traded hands, compared to its average volume of 2,691,904. The firm has a market cap of $1.07 billion, a P/E ratio of -135.00 and a beta of 0.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.74 and a current ratio of 3.20. First Majestic Silver has a one year low of $4.93 and a one year high of $8.48.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Wednesday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 33.27% and a negative return on equity of 5.36%. The firm had revenue of $88.50 million during the quarter, compared to analyst estimates of $126.56 million. The company’s revenue was up 43.0% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AG. Van ECK Associates Corp lifted its holdings in First Majestic Silver by 17.0% during the second quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock valued at $182,461,000 after purchasing an additional 3,471,408 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in First Majestic Silver by 121.7% during the second quarter. CIBC Asset Management Inc now owns 516,348 shares of the mining company’s stock valued at $3,940,000 after purchasing an additional 283,464 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in First Majestic Silver during the second quarter valued at about $1,920,000. Global X Management Co LLC lifted its holdings in First Majestic Silver by 5.3% during the second quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock valued at $18,765,000 after purchasing an additional 123,287 shares during the last quarter. Finally, Fosun International Ltd purchased a new stake in First Majestic Silver during the third quarter valued at about $551,000. 25.78% 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 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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Earnings History and Estimates for First Majestic Silver (NYSE:AG)

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