First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities research analysts at National Bank Financial cut their FY2020 earnings per share (EPS) estimates for First Majestic Silver in a research note issued on Monday, October 15th. National Bank Financial analyst D. Demarco now expects that the mining company will earn $0.21 per share for the year, down from their previous estimate of $0.30. National Bank Financial has a “Sector Perform Market Weight” rating on the stock.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Monday, August 13th. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.05). The firm had revenue of $79.70 million for the quarter, compared to analyst estimates of $111.49 million. First Majestic Silver had a negative net margin of 39.42% and a negative return on equity of 4.40%. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share.

Several other equities research analysts have also issued reports on AG. ValuEngine upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Zacks Investment Research upgraded First Majestic Silver from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a report on Tuesday, July 10th. HC Wainwright reduced their price target on First Majestic Silver from $11.50 to $10.00 and set a “buy” rating for the company in a report on Tuesday, July 17th. Finally, BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.75.

Shares of First Majestic Silver stock opened at $6.27 on Wednesday. The stock has a market cap of $1.10 billion, a PE ratio of -154.00 and a beta of 0.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.20 and a quick ratio of 2.74. First Majestic Silver has a 52-week low of $4.93 and a 52-week high of $8.48.

Several hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of First Majestic Silver by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock valued at $182,461,000 after acquiring an additional 3,471,408 shares in the last quarter. Global X Management Co LLC raised its stake in shares of First Majestic Silver by 5.3% in the 2nd quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock valued at $18,765,000 after acquiring an additional 123,287 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of First Majestic Silver by 5.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,326,757 shares of the mining company’s stock valued at $10,116,000 after acquiring an additional 62,901 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of First Majestic Silver by 8.3% in the 2nd quarter. Alps Advisors Inc. now owns 1,054,560 shares of the mining company’s stock valued at $7,108,000 after acquiring an additional 80,767 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of First Majestic Silver by 121.7% in the 2nd quarter. CIBC Asset Management Inc now owns 516,348 shares of the mining company’s stock valued at $3,940,000 after acquiring an additional 283,464 shares in the last quarter. 25.83% of the stock is currently owned by institutional investors and hedge funds.

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 production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Earnings History and Estimates for First Majestic Silver (NYSE:AG)

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