First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities researchers at B. Riley raised their FY2019 earnings estimates for shares of First Majestic Silver in a research report issued to clients and investors on Monday, June 24th, Zacks Investment Research reports. B. Riley analyst A. Graf now anticipates that the mining company will earn $0.03 per share for the year, up from their previous forecast of ($0.01). B. Riley also issued estimates for First Majestic Silver’s Q4 2019 earnings at $0.02 EPS and FY2021 earnings at $0.41 EPS.
First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, May 9th. The mining company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $86.80 million during the quarter, compared to the consensus estimate of $124.73 million. First Majestic Silver had a negative return on equity of 4.63% and a negative net margin of 59.46%. The firm’s revenue was up 48.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS.
Shares of AG traded up $0.61 during trading hours on Wednesday, reaching $9.92. 11,470,091 shares of the company’s stock traded hands, compared to its average volume of 3,258,366. The company has a market capitalization of $1.88 billion, a PE ratio of -47.24 and a beta of 0.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.78 and a current ratio of 3.24. The firm’s 50 day simple moving average is $7.20. First Majestic Silver has a 12 month low of $4.59 and a 12 month high of $9.98.
Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of First Majestic Silver during the fourth quarter valued at approximately $15,705,000. Deutsche Bank AG increased its stake in shares of First Majestic Silver by 3,672.1% during the fourth quarter. Deutsche Bank AG now owns 980,638 shares of the mining company’s stock valued at $5,775,000 after buying an additional 954,641 shares during the period. ETF Managers Group LLC increased its stake in shares of First Majestic Silver by 3.5% during the first quarter. ETF Managers Group LLC now owns 943,272 shares of the mining company’s stock valued at $6,207,000 after buying an additional 31,738 shares during the period. Alps Advisors Inc. increased its stake in shares of First Majestic Silver by 57.4% during the first quarter. Alps Advisors Inc. now owns 921,133 shares of the mining company’s stock valued at $6,061,000 after buying an additional 335,918 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of First Majestic Silver by 66.2% during the first quarter. Bank of Montreal Can now owns 671,560 shares of the mining company’s stock valued at $4,419,000 after buying an additional 267,372 shares during the period. 25.78% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Vinita Lee Piper purchased 22,055 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average cost of $5.93 per share, with a total value of $130,786.15. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.85% of the company’s stock.
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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