First Majestic Silver Corp. (AG): A Technical View

As of Wednesday close, First Majestic Silver Corp.’s (NYSE:AG) stock was up $0.4, moving up 4.50 percent to $9.28. The average number of shares traded per day over the past five days has been 5,956,480 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.01 fall in that time frame. In the last twenty days, the average volume was 6,156,305, while in the previous 50 days, it was 7,421,368.

Since last month, AG stock rose 2.77%. Shares of the company fell to $8.71 on 11/28/22, the lowest level in the past month. A 52-week high of $14.59 was reached on 04/18/22 after having rallying from a 52-week low of $6.31. Since the beginning of this year, AG’s stock price has dropped by -16.47% or -$1.83, and marked a new high 12 times. However, the stock has declined by -36.39% since its 52-week high.

Valuation Metrics

Right now, First Majestic Silver Corp. (AG) has a P/E ratio of about 4640.00. Besides these, the trailing price-to-sales (P/S) ratio of 3.62, the price-to-book (PB) ratio of 1.81.

The latest dividend of $0.0061 per share was paid out, remained unchanged from last year’s $0.0061. On Friday August 5 2022, a $0.0001 dividend increase was announced.

Financial Health

Based on annual data, AG earned $218.03 million in gross profit and brought in $584.12 million in revenue.

In First Majestic Silver Corp.’s quarter-end financial report for June 29, it reported total debt of $4.68 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. AG’s revenue rose 100.0% during the quarter, while net income inched up to $363.94 million. While analysts expected First Majestic Silver Corp. to report $0.02 quarterly earnings, the actual figure was -$0.02 per share. During the quarter, the company generated $20.85 million in EBITDA. The liabilities of First Majestic Silver Corp. were 708.53 million at the end of its most recent quarter ended June 29, and its total debt was $225.87 million.

Technical Picture

This quick technical analysis looks at First Majestic Silver Corp.’s (AG) price momentum. With a historical volatility rate of 63.93%, the RSI 9-day stood at 52.78% on 07 December.

With respect to its five-day moving average, the current First Majestic Silver Corp. price is down by -0.11% percent or -$0.01. At present, AG shares trade -1.38% below its 20-day simple moving average and +31.26% percent above its 100-day simple moving average. However, the stock is currently trading approximately +41.03% above its SMA50 and -18.60% below its SMA200.

Stochastic coefficient K was 34.48% and Stochastic coefficient D was 44.17%, while ATR was 0.48. Given the Stochastic reading of 59.37% for the 14-day period, the RSI (14) reading has been calculated as 53.46%. As of today, the MACD Oscillator reading stands at -0.14, while the 14-day reading stands at -0.17.

With a median target price of $9.22, the current consensus forecast for the stock is $7.18 – $12.50. Based on these forecasts, analysts predict First Majestic Silver Corp. (AG) will achieve an average price target of $9.54.

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