Wall Street analysts predict that First Majestic Silver Corp. (NYSE:AG) (TSE:FR) will post earnings of $0.10 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for First Majestic Silver's earnings. First Majestic Silver posted earnings of $0.12 per share during the same quarter last year, which suggests a negative year over year growth rate of 16.7%. The business is expected to report its next quarterly earnings results on Thursday, November 4th.
According to Zacks, analysts expect that First Majestic Silver will report full year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.22 to $0.42. For the next fiscal year, analysts anticipate that the company will report earnings of $0.56 per share, with EPS estimates ranging from $0.24 to $0.83. Zacks' EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for First Majestic Silver.
First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Sunday, August 15th. The mining company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). First Majestic Silver had a return on equity of 7.11% and a net margin of 16.67%. The business had revenue of $154.07 million for the quarter.
A number of research analysts recently issued reports on AG shares. Zacks Investment Research upgraded First Majestic Silver from a "sell" rating to a "hold" rating in a research note on Monday, August 16th. National Bank Financial dropped their price target on First Majestic Silver from C$21.00 to C$18.00 and set a "sector perform" rating on the stock in a research note on Friday. TD Securities dropped their price target on First Majestic Silver from C$21.00 to C$20.00 and set a "hold" rating on the stock in a research note on Tuesday, August 17th. Finally, HC Wainwright reiterated a "buy" rating and issued a $25.00 target price (up from $23.50) on shares of First Majestic Silver in a research note on Thursday, July 15th.
NYSE:AG traded up $0.15 during mid-day trading on Tuesday, reaching $12.85. 3,915,158 shares of the stock were exchanged, compared to its average volume of 6,117,101. The company has a 50 day simple moving average of $12.99 and a 200-day simple moving average of $15.29. The stock has a market capitalization of $3.30 billion, a P/E ratio of 35.69 and a beta of 0.93. The company has a quick ratio of 2.69, a current ratio of 3.08 and a debt-to-equity ratio of 0.13. First Majestic Silver has a 1 year low of $9.33 and a 1 year high of $24.01.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 16th. Investors of record on Thursday, August 26th will be paid a $0.006 dividend. The ex-dividend date is Wednesday, August 25th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.19%. First Majestic Silver's dividend payout ratio (DPR) is presently 11.11%.
A number of hedge funds have recently modified their holdings of the stock. Veracity Capital LLC raised its holdings in First Majestic Silver by 3.8% during the second quarter. Veracity Capital LLC now owns 135,867 shares of the mining company's stock worth $2,148,000 after purchasing an additional 4,950 shares during the last quarter. Morgan Stanley raised its holdings in First Majestic Silver by 7.0% during the second quarter. Morgan Stanley now owns 1,551,886 shares of the mining company's stock worth $24,535,000 after purchasing an additional 101,662 shares during the last quarter. Wells Fargo & Company MN raised its holdings in First Majestic Silver by 57.2% during the second quarter. Wells Fargo & Company MN now owns 138,112 shares of the mining company's stock worth $2,184,000 after purchasing an additional 50,278 shares during the last quarter. Invesco Ltd. acquired a new position in First Majestic Silver during the second quarter worth $354,000. Finally, Millennium Management LLC raised its holdings in First Majestic Silver by 587.0% during the second quarter. Millennium Management LLC now owns 268,539 shares of the mining company's stock worth $4,246,000 after purchasing an additional 229,451 shares during the last quarter. 30.07% of the stock is owned by hedge funds and other institutional investors.
About First Majestic Silver
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including La Encantada Silver Mine; La Parrilla Silver Mine; San Martin Silver Mine; La Guitarra Silver Mine; Del Toro Silver Mine; Santa Elena Silver & Gold Mine; and San Dimas Silver & Gold Mine.
Read More: What is the S&P/ASX 200 Index?
Get a free copy of the Zacks research report on First Majestic Silver (AG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider First Majestic Silver, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and First Majestic Silver wasn't on the list.
While First Majestic Silver currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here