First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) – HC Wainwright issued their FY2023 earnings per share (EPS) estimates for First Majestic Silver in a note issued to investors on Wednesday, March 22nd. HC Wainwright analyst H. Ihle expects that the mining company will post earnings of $0.03 per share for the year. HC Wainwright has a "Buy" rating and a $10.50 price objective on the stock. The consensus estimate for First Majestic Silver's current full-year earnings is $0.11 per share.
Get First Majestic Silver alerts:A number of other analysts have also issued reports on the company. TD Securities cut their target price on First Majestic Silver from C$11.00 to C$9.00 in a research report on Tuesday. National Bank Financial dropped their price target on shares of First Majestic Silver from C$14.50 to C$11.00 in a research note on Tuesday, February 14th. Finally, BMO Capital Markets dropped their price target on shares of First Majestic Silver from C$10.50 to C$9.00 in a research note on Friday, January 20th.
First Majestic Silver Stock Up 3.7 %
Shares of NYSE AG opened at $6.47 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -15.05 and a beta of 1.00. The company has a quick ratio of 1.83, a current ratio of 2.21 and a debt-to-equity ratio of 0.17. First Majestic Silver has a 52-week low of $5.53 and a 52-week high of $14.59. The business's 50 day moving average is $7.22 and its two-hundred day moving average is $8.04.
First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last announced its earnings results on Thursday, February 23rd. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). The firm had revenue of $148.20 million during the quarter, compared to analysts' expectations of $197.59 million. First Majestic Silver had a negative net margin of 18.31% and a negative return on equity of 3.73%. During the same period in the previous year, the firm earned $0.02 EPS.
Hedge Funds Weigh In On First Majestic Silver
A number of institutional investors and hedge funds have recently modified their holdings of AG. Moors & Cabot Inc. boosted its stake in First Majestic Silver by 10.4% in the third quarter. Moors & Cabot Inc. now owns 14,090 shares of the mining company's stock valued at $107,000 after acquiring an additional 1,325 shares in the last quarter. National Bank of Canada FI boosted its stake in First Majestic Silver by 2.6% in the third quarter. National Bank of Canada FI now owns 68,260 shares of the mining company's stock valued at $519,000 after acquiring an additional 1,708 shares in the last quarter. Franklin Resources Inc. boosted its stake in First Majestic Silver by 9.0% in the fourth quarter. Franklin Resources Inc. now owns 20,763 shares of the mining company's stock valued at $173,000 after acquiring an additional 1,717 shares in the last quarter. LGT Group Foundation boosted its stake in First Majestic Silver by 18.3% in the third quarter. LGT Group Foundation now owns 11,958 shares of the mining company's stock valued at $91,000 after acquiring an additional 1,848 shares in the last quarter. Finally, BerganKDV Wealth Management LLC boosted its stake in First Majestic Silver by 94.4% in the third quarter. BerganKDV Wealth Management LLC now owns 4,000 shares of the mining company's stock valued at $30,000 after acquiring an additional 1,942 shares in the last quarter. Institutional investors and hedge funds own 30.40% of the company's stock.
First Majestic Silver Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be paid a dividend of $0.005 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.31%. First Majestic Silver's payout ratio is currently -4.65%.
About First Majestic Silver
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First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including the La Encantada Silver Mine, La Parrilla Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, Del Toro Silver Mine, Santa Elena Silver & Gold Mine, and San Dimas Silver & Gold Mine.
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