Scotiabank Cuts Earnings Estimates for First Majestic Silver

Key Points

• Scotiabank cut First Majestic Silver’s FY2026 EPS estimate to $0.69 from $0.75, below the $0.83 analyst consensus, while maintaining a “Sector Perform” rating and $22.50 price target.
• First Majestic’s latest quarterly results missed expectations, with EPS of $0.21 versus $0.25 expected and revenue of $415.5 million versus $496 million estimated, despite revenue rising 57.3% year over year.
• Analyst sentiment remains moderately positive overall, with an average “Moderate Buy” rating and $23.83 price target; the company also declared a quarterly dividend of $0.0152 per share, yielding approximately 0.4%.

First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR - Stock analysts at Scotiabank decreased their FY2026 EPS estimates for shares of First Majestic Silver in a report released on Tuesday, August 4th. Scotiabank analyst E. Winmill now anticipates that the mining company will earn $0.69 per share for the year, down from their prior forecast of $0.75. Scotiabank has a "Sector Perform" rating and a $22.50 price target on the stock. The consensus estimate for First Majestic Silver's current full-year earnings is $0.83 per share.

Several other brokerages have also recently issued reports on AG. ATB Cormark Capital Markets upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 10th. HC Wainwright increased their price objective on First Majestic Silver from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings downgraded First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, June 5th. Finally, Wall Street Zen lowered First Majestic Silver from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, First Majestic Silver has an average rating of "Moderate Buy" and an average price target of $23.83.

First Majestic Silver Price Performance

Shares of AG opened at $17.32 on Friday. First Majestic Silver has a fifty-two week low of $8.28 and a fifty-two week high of $32.03. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 24.39 and a beta of 0.94. The firm has a 50-day simple moving average of $17.19 and a 200-day simple moving average of $20.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The company's revenue for the quarter was up 57.3% compared to the same quarter last year.

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in AG. Royal Bank of Canada lifted its holdings in shares of First Majestic Silver by 77.4% in the 1st quarter. Royal Bank of Canada now owns 604,186 shares of the mining company's stock valued at $4,042,000 after buying an additional 263,688 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in First Majestic Silver by 355.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company's stock worth $7,985,000 after acquiring an additional 931,690 shares during the period. Geode Capital Management LLC raised its position in First Majestic Silver by 12.4% in the second quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company's stock worth $1,994,000 after acquiring an additional 26,553 shares in the last quarter. Creative Planning raised its position in First Majestic Silver by 25.3% in the second quarter. Creative Planning now owns 28,837 shares of the mining company's stock worth $238,000 after acquiring an additional 5,828 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in First Majestic Silver by 12.8% in the second quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company's stock valued at $215,000 after acquiring an additional 2,936 shares during the period. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, August 14th. First Majestic Silver's payout ratio is currently 8.45%.

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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