First Majestic Silver Corp. (TSE:FR) (NYSE:AG) – Research analysts at Cormark cut their Q3 2018 earnings per share (EPS) estimates for First Majestic Silver in a research note issued on Tuesday, August 14th. Cormark analyst R. Gray now expects that the mining company will post earnings of ($0.01) per share for the quarter, down from their previous forecast of $0.05. Cormark has a “C$9.03” rating and a $13.00 price objective on the stock. Cormark also issued estimates for First Majestic Silver’s Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.18) EPS and FY2019 earnings at $0.29 EPS.
A number of other analysts have also weighed in on the stock. National Bank Financial restated a “sector perform market weight” rating on shares of First Majestic Silver in a research report on Monday. TD Securities cut their target price on shares of First Majestic Silver from C$13.00 to C$12.50 and set a “buy” rating on the stock in a research report on Tuesday. BMO Capital Markets cut their target price on shares of First Majestic Silver from C$9.25 to C$8.75 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, Roth Capital restated a “buy” rating on shares of First Majestic Silver in a research report on Wednesday, April 25th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. First Majestic Silver presently has a consensus rating of “Buy” and a consensus target price of C$10.94.
In other news, insider Raymond L. Polman sold 125,000 shares of First Majestic Silver stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of C$10.04, for a total transaction of C$1,255,000.00. Also, insider Todd Olson Anthony purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were acquired at an average price of C$6.75 per share, for a total transaction of C$33,750.00. In the last quarter, insiders have bought 19,101 shares of company stock worth $151,244 and have sold 180,900 shares worth $1,810,647.
About First Majestic Silver
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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