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First Majestic Silver Corp. (NYSE: AG) Stock: Will It Keep Climbing Higher?

In the last trading session, 5.08 million shares of the First Majestic Silver Corp. (NYSE:AG) were traded. Most recently the company’s share price was…

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This article was originally published by The Marketing Sentinal

In the last trading session, 5.08 million shares of the First Majestic Silver Corp. (NYSE:AG) were traded. Most recently the company’s share price was $7.59, and it changed around -$0.13 or -1.68% from the last close, which brings the market valuation of the company to $2.00B. AG currently trades at a discount to its 52-week high of $14.67, offering almost -93.28% off that amount. The share price’s 52-week low was $6.31, which indicates that the current value has risen by an impressive 16.86% since then. We note from First Majestic Silver Corp.’s average daily trading volume that its 10-day average is 6.72 million shares, with the 3-month average coming to 6.44 million.

First Majestic Silver Corp. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 3 recommended AG as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. First Majestic Silver Corp. is expected to report earnings per share of $0.02 for the current quarter.

First Majestic Silver Corp. (NYSE:AG) trade information

Instantly AG has showed a red trend with a performance of -1.68% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 7.89 on Tuesday, 08/02/22 increased the stock’s daily price by 3.8%. The company’s shares are currently down -31.68% year-to-date, but still up 13.62% over the last five days. On the other hand, First Majestic Silver Corp. (NYSE:AG) is 2.15% up in the 30-day period. We can see from the shorts that 16.09 million shares have been sold at a short interest cover period of 2.64 day(s).

The consensus price target as assigned by Wall Street analysts is $10.03, which translates to bulls needing to increase their stock price by 24.33% from its current value. Analyst projections state that AG is forecast to be at a low of $7.40 and a high of $12.50. In order for the stock price to hit the forecast high, the stock would need to plunge -64.69% from its current level, while the stock would need to crash 2.5% from its current level to reach the projected low.

First Majestic Silver Corp. (AG) estimates and forecasts

First Majestic Silver Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -25.30 percent over the past six months and at a 900.00% annual growth rate that is well above the industry average of -14.70%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -60.00% in revenue this quarter, and will report an increase of 214.30% in the next quarter. The year-over-year growth rate is expected to be 18.90%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $173 million in revenue for the current quarter. 1 analysts expect First Majestic Silver Corp. to make $197 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $154.07 million and $124.65 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 12.30%. Forecasts for the next quarter put sales growth at 58.00%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -33.08%. First Majestic Silver Corp. earnings are expected to increase by 850.00% in 2022, but the outlook is positive 46.80% per year for the next five years.

AG Dividends

First Majestic Silver Corp.’s next quarterly earnings report is expected to be released around February 16 and February 21. The annual dividend yield of the stock is 0.26 percent and its annual dividend per share was 0.02. It is important to note, however, that the 0.26% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

First Majestic Silver Corp. (NYSE:AG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 12.49% of First Majestic Silver Corp. shares, and 33.57% of them are in the hands of institutional investors. The stock currently has a share float of 38.36%. First Majestic Silver Corp. stock is held by 303 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Mar 30, 2022, it held 9.95% of the shares, which is about 26.16 million shares worth $344.33 million.

ETF Managers Group, LLC, with 3.85% or 10.13 million shares worth $133.3 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and ETF Managers Tr-ETFMG Prime Junior Silver ETF were the top two Mutual Funds as of Jun 29, 2022. The former held 13.86 million shares worth $99.48 million, making up 5.27% of all outstanding shares. On the other hand, ETF Managers Tr-ETFMG Prime Junior Silver ETF held roughly 10.13 million shares worth around $133.3 million, which represents about 3.85% of the total shares outstanding.


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