First Majestic Silver (TSE:AG) Stock Price Down 12.6% - Here's Why

Key Points

• Shares fell 12.6% to C$37.76 on Tuesday, trading as low as C$37.76 with only ~315,508 shares changing hands — about 87% below the average daily volume, so the drop occurred on unusually light volume.
• Analysts still show a consensus "Buy" rating, but the consensus target price is C$30.60 (below the current price); individual actions included Cormark raising its rating to "moderate buy" and TD Securities lifting its target to C$36.
• Recent fundamentals: quarterly EPS of C$0.41 and revenue of C$621M, a market cap of C$18.36B and a high P/E of 109.5, while the 50‑day and 200‑day moving averages (C$30.40 and C$21.77) indicate a longer-term upward trend.

First Majestic Silver Corp. (TSE:AG - Get Free Report)'s share price was down 12.6% during trading on Tuesday . The company traded as low as C$37.76 and last traded at C$37.76. Approximately 315,508 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,402,375 shares. The stock had previously closed at C$43.19.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AG shares. Cormark raised shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Thursday, November 6th. TD Securities boosted their target price on shares of First Majestic Silver from C$22.00 to C$36.00 in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$30.60.

First Majestic Silver Stock Down 13.8%

The business has a 50-day moving average price of C$30.40 and a two-hundred day moving average price of C$21.77. The company has a market capitalization of C$18.36 billion, a price-to-earnings ratio of 109.50 and a beta of 2.10.

First Majestic Silver (TSE:AG - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported C$0.41 earnings per share (EPS) for the quarter. First Majestic Silver had a net margin of 13.14% and a return on equity of 6.49%. The business had revenue of C$621.00 million during the quarter. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post 0.4623323 EPS for the current fiscal year.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.