Research Analysts Set Expectations for AG FY2024 Earnings

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – National Bank Financial boosted their FY2024 earnings per share estimates for First Majestic Silver in a report released on Monday, February 10th. National Bank Financial analyst D. Demarco now forecasts that the mining company will post earnings per share of ($0.11) for the year, up from their previous estimate of ($0.12). The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.16) per share. National Bank Financial also issued estimates for First Majestic Silver’s Q4 2024 earnings at $0.06 EPS.

Other research analysts also recently issued reports about the company. Scotiabank cut their target price on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. 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 Price Performance

Shares of NYSE:AG opened at $5.79 on Thursday. The firm has a market cap of $1.81 billion, a PE ratio of -21.44 and a beta of 1.24. 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 $5.79 and its 200-day moving average is $6.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03.

Hedge Funds Weigh In On First Majestic Silver

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its stake in shares of First Majestic Silver by 2.7% in the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after acquiring an additional 764,790 shares in the last quarter. Vanguard Group Inc. boosted its holdings in First Majestic Silver by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock worth $62,784,000 after purchasing an additional 598,996 shares during the last quarter. Tidal Investments LLC grew its position in First Majestic Silver by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock worth $34,684,000 after purchasing an additional 99,640 shares in the last quarter. Trexquant Investment LP increased its stake in First Majestic Silver by 161.0% in the 4th quarter. Trexquant Investment LP now owns 1,026,729 shares of the mining company’s stock valued at $5,637,000 after buying an additional 633,413 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of First Majestic Silver by 19.4% during the 4th quarter. National Bank of Canada FI now owns 816,288 shares of the mining company’s stock worth $4,485,000 after buying an additional 132,661 shares in the last quarter. 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.