First Majestic Silver Corp. to Post Q2 2024 Earnings of $0.09 Per Share, Cormark Forecasts (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities researchers at Cormark boosted their Q2 2024 EPS estimates for shares of First Majestic Silver in a note issued to investors on Friday, July 19th. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.09 per share for the quarter, up from their previous forecast of $0.05. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.04) per share.

A number of other analysts have also recently weighed in on AG. HC Wainwright reissued a “buy” rating and set a $8.50 target price on shares of First Majestic Silver in a report on Friday, July 19th. Scotiabank increased their price objective on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd.

First Majestic Silver Stock Down 0.9 %

Shares of First Majestic Silver stock opened at $6.14 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.33 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $6.58 and a 200 day moving average price of $6.03. First Majestic Silver has a fifty-two week low of $4.17 and a fifty-two week high of $8.44. The firm has a market cap of $1.78 billion, a P/E ratio of -38.34 and a beta of 1.32.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, May 8th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). First Majestic Silver had a negative return on equity of 3.28% and a negative net margin of 9.18%. The company had revenue of $106.01 million during the quarter.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new position in shares of First Majestic Silver during the 4th quarter valued at about $43,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Majestic Silver during the first quarter worth approximately $48,000. B. Riley Wealth Advisors Inc. acquired a new position in First Majestic Silver in the first quarter worth approximately $62,000. Capstone Investment Advisors LLC bought a new position in shares of First Majestic Silver in the fourth quarter valued at $69,000. Finally, Capital Management Associates Inc acquired a new stake in shares of First Majestic Silver during the 4th quarter valued at $92,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a $0.004 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Thursday, May 16th. First Majestic Silver’s dividend payout ratio is currently -6.25%.

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.