First Majestic Silver Corp. (NYSE:AG) to Post FY2020 Earnings of $0.09 Per Share, Cormark Forecasts

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Stock analysts at Cormark reduced their FY2020 EPS estimates for shares of First Majestic Silver in a research note issued to investors on Wednesday, January 22nd. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.09 per share for the year, down from their previous forecast of $0.17.

AG has been the subject of several other reports. Zacks Investment Research raised shares of First Majestic Silver from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and issued a $11.50 price objective on shares of First Majestic Silver in a report on Friday, November 8th. Finally, ValuEngine downgraded shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.57.

AG traded up $0.07 during trading on Friday, reaching $10.26. 256,826 shares of the stock traded hands, compared to its average volume of 4,365,431. The company has a quick ratio of 3.14, a current ratio of 3.69 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.12 billion, a PE ratio of -11.93 and a beta of 0.19. The stock’s 50-day moving average is $11.14 and its 200 day moving average is $10.32. First Majestic Silver has a 12 month low of $5.13 and a 12 month high of $12.69.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, November 7th. The mining company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $97.00 million for the quarter, compared to the consensus estimate of $134.54 million. First Majestic Silver had a negative return on equity of 0.81% and a negative net margin of 48.30%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS.

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in First Majestic Silver by 35,738.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 22,220 shares of the mining company’s stock valued at $202,000 after acquiring an additional 22,158 shares during the period. Creative Planning increased its stake in shares of First Majestic Silver by 4.4% during the third quarter. Creative Planning now owns 30,777 shares of the mining company’s stock worth $280,000 after buying an additional 1,295 shares during the period. Millennium Management LLC increased its stake in First Majestic Silver by 175.6% in the third quarter. Millennium Management LLC now owns 278,440 shares of the mining company’s stock valued at $2,531,000 after purchasing an additional 177,402 shares during the last quarter. Nomura Holdings Inc. purchased a new position in First Majestic Silver in the third quarter valued at approximately $264,000. Finally, Voloridge Investment Management LLC increased its stake in First Majestic Silver by 6.6% in the third quarter. Voloridge Investment Management LLC now owns 150,945 shares of the mining company’s stock valued at $1,372,000 after purchasing an additional 9,345 shares during the last quarter. Institutional investors and hedge funds own 29.95% of the company’s stock.

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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Earnings History and Estimates for First Majestic Silver (NYSE:AG)

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