HC Wainwright Brokers Decrease Earnings Estimates for First Majestic Silver Corp. (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Investment analysts at HC Wainwright cut their FY2023 earnings per share (EPS) estimates for shares of First Majestic Silver in a research note issued on Monday, November 6th. HC Wainwright analyst H. Ihle now forecasts that the mining company will earn ($0.52) per share for the year, down from their prior forecast of ($0.39). HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.11) per share.

A number of other brokerages also recently issued reports on AG. StockNews.com assumed coverage on First Majestic Silver in a research note on Friday, October 6th. They issued a “sell” rating for the company. TD Securities cut their price target on First Majestic Silver from C$10.50 to C$10.00 in a research note on Friday, August 4th. Finally, BMO Capital Markets initiated coverage on First Majestic Silver in a research note on Thursday, September 14th. They set a “market perform” rating for the company.

First Majestic Silver Stock Down 0.6 %

Shares of NYSE:AG opened at $4.75 on Wednesday. The company has a market capitalization of $1.36 billion, a PE ratio of -8.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.97 and a quick ratio of 2.37. The business has a fifty day moving average price of $5.32 and a two-hundred day moving average price of $5.85. First Majestic Silver has a 1 year low of $4.38 and a 1 year high of $9.81.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in shares of First Majestic Silver by 3.8% in the 3rd quarter. Van ECK Associates Corp now owns 29,631,966 shares of the mining company’s stock valued at $152,012,000 after acquiring an additional 1,079,150 shares in the last quarter. Swiss National Bank raised its holdings in shares of First Majestic Silver by 2.1% during the 3rd quarter. Swiss National Bank now owns 617,900 shares of the mining company’s stock valued at $3,193,000 after buying an additional 12,700 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of First Majestic Silver during the 3rd quarter valued at about $145,000. Quantbot Technologies LP purchased a new position in shares of First Majestic Silver during the 3rd quarter valued at about $471,000. Finally, Monaco Asset Management SAM purchased a new position in shares of First Majestic Silver during the 3rd quarter valued at about $513,000. Institutional investors own 31.43% of the company’s stock.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be paid a $0.0046 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.02 annualized dividend and a yield of 0.39%. First Majestic Silver’s dividend payout ratio is currently -3.51%.

About First Majestic Silver

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 that consists of 119 individual concessions covering an area of 71,839 hectares located in Durango and Sinaloa States, México; the Santa Elena comprising 32 individual concessions that covers an area of 102,172 hectares located in Sonora State, México; and the La Encantada consists of 22 exploitation concessions covering an area of 4,076 hectares located in Coahuila State, México.