Scotiabank Analysts Decrease Earnings Estimates for AG

Key Points

• Scotiabank lowered its FY2027 EPS estimate for First Majestic Silver (AG) from $0.91 to $0.84 and maintains a "Sector Perform" rating with a $23 target, while the consensus full-year EPS sits at $0.54.
• First Majestic reported quarterly EPS of $0.30, beating estimates of $0.27, but revenue missed at $463.9M versus a $561.3M consensus despite a 169% year-over-year revenue increase.
• Analyst views are mixed—several firms raised ratings/prices (BMO, HC Wainwright, Wall Street Zen) while others cut or held—resulting in an average "Moderate Buy" consensus price target of $25, and institutional investors have notably increased stakes (Arrowstreet, VanEck, others) with institutions owning ~27.2%.

First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR - Equities researchers at Scotiabank cut their FY2027 earnings per share estimates for First Majestic Silver in a research note issued to investors on Friday, April 10th. Scotiabank analyst O. Habib now anticipates that the mining company will post earnings per share of $0.84 for the year, down from their previous estimate of $0.91. Scotiabank currently has a "Sector Perform" rating and a $23.00 target price on the stock. The consensus estimate for First Majestic Silver's current full-year earnings is $0.54 per share.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The company had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm's revenue for the quarter was up 169.2% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets raised First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. HC Wainwright raised their price objective on First Majestic Silver to $30.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Wall Street Zen raised First Majestic Silver from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 4th. Zacks Research downgraded First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

First Majestic Silver Price Performance

Shares of AG stock opened at $20.59 on Monday. First Majestic Silver has a 1-year low of $5.49 and a 1-year high of $32.03. The stock's 50-day moving average is $23.45 and its 200 day moving average is $18.35. The company has a market cap of $10.15 billion, a P/E ratio of 58.84 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.60 and a quick ratio of 2.41.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a $0.0083 dividend. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, February 27th. First Majestic Silver's dividend payout ratio is 8.57%.

Institutional Investors Weigh In On First Majestic Silver

Several institutional investors have recently added to or reduced their stakes in AG. Arrowstreet Capital Limited Partnership boosted its holdings in First Majestic Silver by 408.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company's stock worth $250,821,000 after acquiring an additional 12,081,688 shares in the last quarter. Van ECK Associates Corp boosted its holdings in First Majestic Silver by 32.0% in the third quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company's stock worth $531,234,000 after acquiring an additional 10,471,543 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Majestic Silver by 38.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company's stock worth $232,539,000 after acquiring an additional 5,265,612 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in First Majestic Silver in the third quarter worth about $55,071,000. Finally, Alps Advisors Inc. boosted its holdings in First Majestic Silver by 108.7% in the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company's stock worth $88,527,000 after acquiring an additional 3,751,376 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

About First Majestic Silver

First Majestic Silver Corp. NYSE: AG engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.

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