Q2 2024 Earnings Forecast for First Majestic Silver Corp. Issued By Cormark (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Investment analysts at Cormark lowered their Q2 2024 EPS estimates for First Majestic Silver in a research note issued on Wednesday, April 17th. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.04. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.06) per share.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $136.95 million during the quarter. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. During the same period in the prior year, the business earned ($0.07) EPS.

AG has been the subject of a number of other reports. StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a report on Monday, February 26th. HC Wainwright raised their price target on shares of First Majestic Silver from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Friday.

First Majestic Silver Trading Down 0.4 %

NYSE:AG opened at $6.74 on Thursday. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -14.04 and a beta of 1.43. The firm has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $5.50. First Majestic Silver has a 12 month low of $4.17 and a 12 month high of $8.44.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.0048 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, March 13th. First Majestic Silver’s dividend payout ratio (DPR) is currently -2.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AG. Coppell Advisory Solutions LLC acquired a new position in shares of First Majestic Silver during the second quarter valued at about $27,000. CWM LLC lifted its position in shares of First Majestic Silver by 59.7% during the third quarter. CWM LLC now owns 5,433 shares of the mining company’s stock valued at $28,000 after purchasing an additional 2,030 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of First Majestic Silver by 19,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,000 shares of the mining company’s stock valued at $33,000 after purchasing an additional 3,980 shares in the last quarter. Money Concepts Capital Corp bought a new position in shares of First Majestic Silver during the fourth quarter valued at about $33,000. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of First Majestic Silver during the fourth quarter valued at about $42,000. 27.16% 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 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.