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A Technical View of the First Majestic Silver Corp. (AG)

First Majestic Silver Corp. (NYSE:AG) saw a downside of -1.46% to close Friday at $9.48 after subtracting -$0.14 on the day. The 5-day average trading…

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This article was originally published by Fosters Leader

First Majestic Silver Corp. (NYSE:AG) saw a downside of -1.46% to close Friday at $9.48 after subtracting -$0.14 on the day. The 5-day average trading volume is 4,193,920 shares of the company’s common stock. It has gained $9.65 in the past week and touched a new high 3 times within the past 5 days. An average of 6,939,530 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,715,678.

AG’s 1-month performance is 9.09% or $1.10 on its low of $7.82 reached on 11/03/22. The company’s shares have touched a 52-week low of $6.31 and high of $14.59, with the stock’s rally to the 52-week high happening on 04/18/22. YTD, AG has lost -14.67% or -$1.63 and has reached a new high 12 times. However, the current price is down -35.02% from the 52-week high price.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.70 while the price-to-book (PB) in the most recent quarter is 1.85.

The firm’s gross profit as reported stood at $218.03 million against revenue of $584.12 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -404.47% to -$40.47 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected AG to announce $0.02 per share in earnings in its latest quarter, but it posted -$0.02, representing a -200.00% surprise. EBITDA for the quarter stood at more than $20.85 million. AG stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 708.53 million, with total debt at $225.87 million.

Let’s look briefly at First Majestic Silver Corp. (AG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 November was 59.63% to suggest the stock is trending Neutral, with historical volatility in this time period at 39.51%.

The stock’s 5-day moving average is $9.35, reflecting a +4.87% or $0.44 change from its current price. AG is currently trading +11.92% above its 20-day SMA, +38.39% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +22.96% and SMA200 by-11.98%.

Stochastic %K and %D was 80.16% and 80.74% and the average true range (ATR) pointed at 0.43. The RSI (14) points at 58.81%, while the 14-day stochastic is at 69.72% with the period’s ATR at 0.46. The stock’s 9-day MACD Oscillator is pointing at 0.20 and 0.21 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for First Majestic Silver Corp. (NYSE: AG), TD Securities upgraded it to a Buy rating. They previously had a Hold rating on the stock.

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