Analysts Set Expectations for AG FY2024 Earnings

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Research analysts at Scotiabank issued their FY2024 earnings per share estimates for First Majestic Silver in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Habib anticipates that the mining company will earn ($0.15) per share for the year. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.17) per share. Scotiabank also issued estimates for First Majestic Silver’s FY2025 earnings at $0.18 EPS.

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a research note on Friday.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $5.84 on Monday. The firm has a market cap of $1.76 billion, a P/E ratio of -21.63 and a beta of 1.25. First Majestic Silver has a twelve month low of $4.17 and a twelve month high of $8.44. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $6.09 and a 200 day moving average of $6.10.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12). The firm had revenue of $146.09 million during the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%.

Institutional Investors Weigh In On First Majestic Silver

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in shares of First Majestic Silver in the third quarter worth $2,419,000. Marshall Wace LLP purchased a new position in First Majestic Silver in the second quarter worth about $3,904,000. National Bank of Canada FI grew its stake in shares of First Majestic Silver by 18.0% during the 3rd quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock valued at $4,102,000 after purchasing an additional 104,092 shares during the period. Dimensional Fund Advisors LP increased its position in shares of First Majestic Silver by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock valued at $18,701,000 after purchasing an additional 103,232 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of First Majestic Silver by 17.7% in the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock worth $3,349,000 after purchasing an additional 83,867 shares during the period. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.0048 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.02 annualized dividend and a yield of 0.33%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is currently -3.70%.

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.