Research Analysts Issue Forecasts for AG FY2024 Earnings

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities researchers at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for shares of First Majestic Silver in a report released on Monday, February 10th. National Bank Financial analyst D. Demarco now anticipates that the mining company will post earnings of ($0.11) per share for the year, up from their previous forecast of ($0.12). The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.16) per share. National Bank Financial also issued estimates for First Majestic Silver’s Q4 2024 earnings at $0.06 EPS.

Several other analysts have also recently issued reports on AG. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, January 10th. Scotiabank decreased their price objective on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th.

First Majestic Silver Stock Down 1.6 %

AG stock opened at $5.70 on Thursday. The stock has a market capitalization of $1.78 billion, a P/E ratio of -21.09 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. First Majestic Silver has a one year low of $4.18 and a one year high of $8.44. The company has a 50 day moving average price of $5.78 and a two-hundred day moving average price of $6.02.

Hedge Funds Weigh In On First Majestic Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of First Majestic Silver by 2.7% during the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock valued at $173,478,000 after purchasing an additional 764,790 shares in the last quarter. Vanguard Group Inc. grew its stake in First Majestic Silver by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock valued at $62,784,000 after acquiring an additional 598,996 shares in the last quarter. Tidal Investments LLC grew its stake in First Majestic Silver by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock valued at $34,684,000 after acquiring an additional 99,640 shares in the last quarter. Renaissance Technologies LLC grew its stake in First Majestic Silver by 897.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock valued at $20,638,000 after acquiring an additional 3,382,443 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in First Majestic Silver by 161.0% during the 4th quarter. Trexquant Investment LP now owns 1,026,729 shares of the mining company’s stock valued at $5,637,000 after acquiring an additional 633,413 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.