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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities research analysts at Cormark cut their Q2 2024 EPS estimates for shares of First Majestic Silver in a note issued to investors on Wednesday, July 31st. Cormark analyst R. Gray now forecasts that the mining company will earn $0.00 per share for the quarter, down from their previous estimate 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 released its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $136.20 million during the quarter, compared to the consensus estimate of $129.74 million. First Majestic Silver had a negative return on equity of 4.41% and a negative net margin of 15.37%. First Majestic Silver’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share.

Several other equities research analysts have also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research note on Friday, August 2nd. Scotiabank upped their target price on shares of 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 Up 3.5 %

Shares of NYSE:AG opened at $4.99 on Monday. The firm has a market capitalization of $1.45 billion, a P/E ratio of -31.19 and a beta of 1.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.33. The stock has a 50 day moving average price of $6.27 and a 200-day moving average price of $6.06. First Majestic Silver has a 52-week low of $4.17 and a 52-week high of $8.44.

First Majestic Silver Announces Dividend

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

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds have recently added to or reduced their stakes in AG. Creekmur Asset Management LLC bought a new stake in shares of First Majestic Silver during the fourth quarter valued at approximately $43,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Majestic Silver in the 1st quarter worth $48,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of First Majestic Silver in the 1st quarter worth $62,000. Capstone Investment Advisors LLC purchased a new position in shares of First Majestic Silver in the fourth quarter worth $69,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of First Majestic Silver by 39.5% during the second quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock valued at $83,000 after purchasing an additional 3,960 shares in the last quarter. 27.16% of the stock is owned by institutional investors.

About First Majestic Silver

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.