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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Analysts at Cormark reduced their Q2 2024 EPS estimates for shares of First Majestic Silver in a research note issued to investors on Wednesday, July 31st. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.09. 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 FY2024 earnings at $0.11 EPS.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data 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 ($0.05). 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 firm posted ($0.02) EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year.

A number of other brokerages have also recently commented on AG. HC Wainwright restated a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a research note on Friday, August 2nd. Scotiabank raised their target price on First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd.

First Majestic Silver Stock Performance

AG opened at $4.99 on Monday. The stock has a market cap of $1.45 billion, a PE ratio of -31.19 and a beta of 1.32. First Majestic Silver has a 1 year low of $4.17 and a 1 year high of $8.44. The stock’s 50 day simple moving average is $6.27 and its 200-day simple moving average is $6.06. The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18.

First Majestic Silver Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.0046 dividend. This represents a $0.02 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, August 16th. First Majestic Silver’s dividend payout ratio is -6.25%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AG. Caprock Group LLC bought a new position in shares of First Majestic Silver in the 2nd quarter worth $503,000. Oxbow Advisors LLC grew its position in shares of First Majestic Silver by 83.5% during the 2nd quarter. Oxbow Advisors LLC now owns 34,777 shares of the mining company’s stock worth $206,000 after buying an additional 15,825 shares during the period. TD Asset Management Inc increased its stake in shares of First Majestic Silver by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 774,530 shares of the mining company’s stock valued at $4,585,000 after acquiring an additional 5,868 shares during the last quarter. CIBC Asset Management Inc increased its stake in First Majestic Silver by 7.7% in the second quarter. CIBC Asset Management Inc now owns 356,769 shares of the mining company’s stock valued at $2,111,000 after purchasing an additional 25,463 shares in the last quarter. Finally, Capital Management Associates Inc raised its holdings in First Majestic Silver by 73.3% in the second quarter. Capital Management Associates Inc now owns 26,000 shares of the mining company’s stock worth $154,000 after purchasing an additional 11,000 shares during the period. Institutional investors own 27.16% of the company’s stock.

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.