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First Majestic Silver Corp. (NYSE: AG) Stocks Fall -3.30% YTD; What Next For It?

First Majestic Silver Corp. (NYSE:AG)’s traded shares stood at 2.91 million during the last session. At the last check today, the stock’s price was…

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This article was originally published by The Marketing Sentinal

First Majestic Silver Corp. (NYSE:AG)’s traded shares stood at 2.91 million during the last session. At the last check today, the stock’s price was $8.06, to imply a decrease of -0.80% or -$0.07 in intraday trading. The AG share’s 52-week high remains $14.59, putting it -81.02% down since that peak but still an impressive 21.71% since price per share fell to its 52-week low of $6.31. The company has a valuation of $2.22B, with an average of 6.77 million shares in intraday trading volume over the past 10 days and average of 6.30 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for First Majestic Silver Corp. (AG), translating to a mean rating of 2.30. Of 6 analyst(s) looking at the stock, 0 analyst(s) give AG a Sell rating. 1 of those analysts rate the stock as Overweight while 4 advise Hold as 1 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.03.

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

After registering a -0.80% downside in the latest session, First Majestic Silver Corp. (AG) has traded red over the past five days. The stock hit a weekly high of 8.38 this Wednesday, 02/01/23, dropping -0.80% in its intraday price action. The 5-day price performance for the stock is -1.53%, and -4.10% over 30 days. With these gigs, the year-to-date price performance is -3.30%. Short interest in First Majestic Silver Corp. (NYSE:AG) saw shorts transact 17.29 million shares and set a 2.05 days time to cover.

Analysts on Wall Street suggest a consensus price target of $9.44, implying an increase of 14.62% to the stock’s recent value. The extremes give us $6.75 and $12.00 for target low and target high price respectively. As such, AG has been trading -48.88% off suggested target high and 16.25% from its likely low.

First Majestic Silver Corp. (AG) estimates and forecasts

Looking at statistics comparing First Majestic Silver Corp. share performance against respective industry, we note that the company has underperformed competitors. First Majestic Silver Corp. (AG) shares are 9.43% up over the last 6 months, with its year-to-date growth rate lower than industry average at -1,200.00% against -20.50%. Revenue is forecast to grow 57.10% this quarter before falling -200.00% for the next one. The rating firms project that company’s revenue will grow 10.70% compared to the previous financial year.

Revenue forecast for the current quarter as set by 2 analysts is $156 million. Meanwhile, for the quarter ending Dec 2022, a total of 1 analyst(s) estimate revenue growth to $169 million.Earnings reports from the last fiscal year show that sales brought in $124.65 million and $204.9 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 25.20% before dropping -17.50% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -33.08% for the past 5-year period. While 2023 is set for a -950.00% return in earnings, projections for the next 5 years are at 46.80% annually.

AG Dividends

First Majestic Silver Corp. has its next earnings report out between March 08 and March 13. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. First Majestic Silver Corp. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

First Majestic Silver Corp. insiders hold 9.75% of total outstanding shares, with institutional holders owning 34.85% of the shares at 38.61% float percentage. In total, 34.85% institutions holds shares in the company, led by Van Eck Associates Corporation. As of Jun 29, 2022, the company held over 26.3 million shares (or 10.00% of shares), all amounting to roughly $188.81 million.

The next major institution holding the largest number of shares is ETF Managers Group, LLC with 11.04 million shares, or about 4.20% of shares outstanding. As of the market price on Jun 29, 2022, these shares were worth $79.28 million.

We also have VanEck ETF Trust-VanEck Gold Miners ETF and ETF Managers Tr-ETFMG Prime Junior Silver ETF as the top two Mutual Funds with the largest holdings of the First Majestic Silver Corp. (AG) shares. Going by data provided on Sep 29, 2022, VanEck ETF Trust-VanEck Gold Miners ETF holds roughly 13.48 million shares. This is just over 5.13% of the total shares, with a market valuation of $102.74 million. Data from the same date shows that the other fund manager holds a little less at 11.04 million, or 4.20% of the shares, all valued at about 79.28 million.

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