AG FY2024 EPS Estimate Increased by National Bank Financial

First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR - Analysts at National Bank Financial lifted their FY2024 earnings per share estimates for First Majestic Silver in a research report issued to clients and investors on Monday, February 10th. National Bank Financial analyst D. Demarco now expects that the mining company will earn ($0.11) per share for the year, up from their prior estimate of ($0.12). The consensus estimate for First Majestic Silver's current full-year earnings is ($0.16) per share. National Bank Financial also issued estimates for First Majestic Silver's Q4 2024 earnings at $0.06 EPS.

A number of other brokerages also recently issued reports on AG. Scotiabank cut their price objective on shares of First Majestic Silver from $6.50 to $6.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 15th. HC Wainwright reaffirmed a "buy" rating and set a $11.00 price target on shares of First Majestic Silver in a research report on Friday, January 10th.

First Majestic Silver Trading Down 4.6 %

AG stock traded down $0.27 during mid-day trading on Thursday, reaching $5.44. The company had a trading volume of 26,144,654 shares, compared to its average volume of 17,703,598. The company has a market capitalization of $1.70 billion, a PE ratio of -20.13 and a beta of 1.24. The firm has a 50 day moving average of $5.75 and a 200 day moving average of $6.01. First Majestic Silver has a 12 month low of $4.28 and a 12 month high of $8.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45.

Hedge Funds Weigh In On First Majestic Silver

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in First Majestic Silver by 897.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company's stock valued at $20,638,000 after purchasing an additional 3,382,443 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of First Majestic Silver by 115.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 1,520,359 shares of the mining company's stock worth $8,347,000 after purchasing an additional 814,153 shares during the period. Van ECK Associates Corp boosted its position in First Majestic Silver by 2.7% in the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company's stock valued at $173,478,000 after buying an additional 764,790 shares during the last quarter. Trexquant Investment LP increased its holdings in First Majestic Silver by 161.0% in the 4th quarter. Trexquant Investment LP now owns 1,026,729 shares of the mining company's stock worth $5,637,000 after buying an additional 633,413 shares during the period. Finally, Vanguard Group Inc. raised its position in First Majestic Silver by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company's stock worth $62,784,000 after buying an additional 598,996 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.