Cormark Research Analysts Raise Earnings Estimates for AG

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities research analysts at Cormark increased their Q4 2024 earnings per share (EPS) estimates for First Majestic Silver in a research report issued to clients and investors on Friday, November 8th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.12 per share for the quarter, up from their prior forecast of $0.09. Cormark currently has a “Moderate Buy” rating on the stock. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.13) per share.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The business had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.20%.

Separately, HC Wainwright reissued a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research report on Friday, October 18th.

First Majestic Silver Stock Down 4.0 %

NYSE:AG opened at $6.21 on Monday. First Majestic Silver has a 52 week low of $4.17 and a 52 week high of $8.44. The stock’s fifty day moving average is $6.42 and its two-hundred day moving average is $6.36. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -22.52 and a beta of 1.31. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of First Majestic Silver in the first quarter worth $62,000. Dark Forest Capital Management LP acquired a new position in shares of First Majestic Silver in the second quarter worth $70,000. Creative Planning purchased a new stake in shares of First Majestic Silver in the third quarter valued at $72,000. Finally, Corundum Trust Company INC purchased a new stake in shares of First Majestic Silver during the third quarter worth about $72,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.0048 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is presently -7.41%.

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.