Cormark Comments on First Majestic Silver Corp.’s Q2 2024 Earnings (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities research analysts at Cormark decreased their Q2 2024 EPS estimates for shares of First Majestic Silver in a research note issued on Wednesday, April 17th. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of $0.03 for the quarter, down from their prior forecast 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 announced its quarterly 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 quarter in the previous year, the business posted ($0.07) EPS.

A number of other research analysts have also commented on the company. HC Wainwright lowered their price target on First Majestic Silver from $12.00 to $6.75 and set a “buy” rating on the stock in a report on Friday, January 19th. StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a research report on Monday, February 26th.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $6.85 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04. First Majestic Silver has a 1-year low of $4.17 and a 1-year high of $8.44. The business’s fifty day moving average price is $5.62 and its two-hundred day moving average price is $5.48. The company has a market capitalization of $1.97 billion, a P/E ratio of -14.26 and a beta of 1.43.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.0048 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Wednesday, March 13th. This represents a $0.02 annualized dividend and a dividend yield of 0.28%. First Majestic Silver’s dividend payout ratio (DPR) is -4.17%.

Institutional Investors Weigh In On First Majestic Silver

A number of large investors have recently made changes to their positions in AG. Moneta Group Investment Advisors LLC lifted its position in 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 buying an additional 47,010,285 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in shares of First Majestic Silver by 449.3% in the 4th quarter. Voloridge Investment Management LLC now owns 1,537,675 shares of the mining company’s stock valued at $9,457,000 after purchasing an additional 1,257,734 shares during the last quarter. Renaissance Technologies LLC bought a new stake in First Majestic Silver in the second quarter worth $9,005,000. Goldman Sachs Group Inc. boosted its holdings in First Majestic Silver by 231.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,614,262 shares of the mining company’s stock worth $9,928,000 after purchasing an additional 1,127,952 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in First Majestic Silver by 3.8% during the third quarter. Van ECK Associates Corp now owns 29,631,966 shares of the mining company’s stock valued at $152,012,000 after buying an additional 1,079,150 shares in the last quarter. Institutional investors and hedge funds 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.