First Majestic Silver (NYSE:AG) Shares Down 10.3% – Should You Sell?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price was down 10.3% during trading on Thursday . The stock traded as low as $20.36 and last traded at $20.1170. Approximately 8,055,602 shares traded hands during trading, a decline of 73% from the average daily volume of 29,610,988 shares. The stock had previously closed at $22.43.

Analyst Ratings Changes

Several analysts recently weighed in on AG shares. BMO Capital Markets reiterated a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. Scotiabank boosted their price objective on First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. HC Wainwright lifted their target price on First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.17.

First Majestic Silver Trading Down 7.6%

The stock has a market capitalization of $10.18 billion, a P/E ratio of 148.31 and a beta of 0.85. The business has a 50 day simple moving average of $18.64 and a 200-day simple moving average of $13.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The firm had revenue of $285.10 million during the quarter, compared to the consensus estimate of $429.78 million. During the same period in the prior year, the firm posted ($0.09) EPS. The firm’s quarterly revenue was up 95.3% on a year-over-year basis. On average, analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current year.

Institutional Trading of First Majestic Silver

A number of large investors have recently added to or reduced their stakes in the business. Lodestone Wealth Management LLC acquired a new position in shares of First Majestic Silver during the 4th quarter worth $25,000. Bogart Wealth LLC bought a new stake in First Majestic Silver in the third quarter worth $28,000. Spire Wealth Management acquired a new position in First Majestic Silver during the fourth quarter worth $35,000. Sound Income Strategies LLC raised its holdings in First Majestic Silver by 29,900.0% during the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares in the last quarter. Finally, CWM LLC raised its holdings in First Majestic Silver by 57.2% during the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after buying an additional 1,860 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.