Scotiabank Expects Lower Earnings for First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Scotiabank reduced their FY2027 EPS estimates for First Majestic Silver in a research report issued to clients and investors on Tuesday, October 13th. Scotiabank analyst E. Winmill now anticipates that the mining company will earn $0.90 per share for the year, down from their previous estimate of $0.91. Scotiabank has a “Sector Perform” rating and a $22.50 price objective on the stock. The consensus estimate for First Majestic Silver’s current full-year earnings is $0.80 per share.

A number of other equities research analysts have also recently weighed in on AG. HC Wainwright lowered their price target on First Majestic Silver from $27.00 to $25.50 and set a “buy” rating on the stock in a report on Friday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

First Majestic Silver Price Performance

AG stock opened at $16.08 on Friday. The firm has a 50 day moving average of $19.17 and a 200-day moving average of $18.97. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 22.65 and a beta of 0.97. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. First Majestic Silver has a 12-month low of $10.19 and a 12-month high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $496.00 million. During the same period last year, the business posted $0.11 earnings per share. The company’s quarterly revenue was up 57.3% on a year-over-year basis.

Institutional Trading of First Majestic Silver

Institutional investors and hedge funds have recently modified their holdings of the business. Harbor Investment Advisory LLC acquired a new stake in shares of First Majestic Silver in the first quarter valued at approximately $32,000. PNC Financial Services Group Inc. increased its stake in shares of First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after purchasing an additional 978 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after purchasing an additional 560 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of First Majestic Silver during the 3rd quarter worth approximately $39,000. Finally, Bard Associates Inc. acquired a new position in shares of First Majestic Silver during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.0152 per share. The ex-dividend date was Friday, August 14th. This is a decrease from First Majestic Silver’s previous quarterly dividend of $0.0171. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. First Majestic Silver’s dividend payout ratio (DPR) is presently 8.45%.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.