Cormark Weighs in on First Majestic Silver Corp.'s Q2 2024 Earnings (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR - Equities research analysts at Cormark reduced their Q2 2024 earnings per share estimates for First Majestic Silver in a report issued on Wednesday, April 17th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.03 per share for the quarter, down from their prior estimate of $0.04. The consensus estimate for First Majestic Silver's current full-year earnings is ($0.06) per share.

Several other equities research analysts also recently issued reports on AG. StockNews.com upgraded First Majestic Silver to a "sell" rating in a report on Monday, February 26th. HC Wainwright lowered their price target on First Majestic Silver from $12.00 to $6.75 and set a "buy" rating for the company in a report on Friday, January 19th.

First Majestic Silver Trading Down 1.0 %

Shares of First Majestic Silver stock traded down $0.07 during trading hours on Thursday, hitting $6.77. The company's stock had a trading volume of 6,692,285 shares, compared to its average volume of 8,819,875. First Majestic Silver has a 12 month low of $4.17 and a 12 month high of $8.44. The stock has a 50 day moving average of $5.66 and a 200 day moving average of $5.48. The company has a market capitalization of $1.94 billion, a PE ratio of -14.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. The company had revenue of $136.95 million during the quarter. During the same quarter last year, the company earned ($0.07) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in First Majestic Silver by 5,383.0% during the first quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company's stock valued at $63,000 after purchasing an additional 4,737 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in First Majestic Silver by 52.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 46,051 shares of the mining company's stock valued at $606,000 after purchasing an additional 15,787 shares during the last quarter. Citigroup Inc. acquired a new position in First Majestic Silver during the first quarter valued at approximately $87,000. Dimensional Fund Advisors LP boosted its position in First Majestic Silver by 127.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company's stock valued at $17,408,000 after purchasing an additional 740,867 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in First Majestic Silver during the first quarter valued at approximately $142,000. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.0048 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. First Majestic Silver's dividend payout ratio (DPR) is presently -4.17%.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.