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Why Do You Need To Add First Majestic Silver Corp. (AG) To Your Portfolio?

First Majestic Silver Corp. (NYSE:AG) has seen 5.12 million shares traded in the last trading session. The company, currently valued at $2.19B, closed the last trade at $8.05 per share which meant it gained $0.14 on the day or 1.77% during that session. The AG stock price is -81.24% off its 52-week high price of $14.59 and 21.61% above the 52-week low of $6.31. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.37 million shares traded. The 3-month trading volume is 6.32 million shares.

First Majestic Silver Corp. (NYSE:AG) trade information

Sporting 1.77% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the AG stock price touched $8.05 or saw a rise of 8.31%. Year-to-date, First Majestic Silver Corp. shares have moved -3.48%, while the 5-day performance has seen it change -5.74%. Over the past 30 days, the shares of First Majestic Silver Corp. (NYSE:AG) have changed -7.36%. Short interest in the company has seen 17.29 million shares shorted with days to cover at 2.05.

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First Majestic Silver Corp. (AG) estimates and forecasts

Figures show that First Majestic Silver Corp. shares have underperformed across the wider relevant industry. The company’s shares have gained 23.09% over the past 6 months, with this year growth rate of -1,200.00%, compared to -23.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 57.10% and -200.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 10.70%.

2 analysts offering their estimates for the company have set an average revenue estimate of $156 million for the current quarter. 1 have an estimated revenue figure of $169 million for the next quarter concluding in Dec 2022. Year-ago sales stood $124.65 million and $204.9 million respectively for this quarter and the next, and analysts expect sales will grow by 25.20% for the current quarter and -17.50% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -33.08% over the past 5 years. Earnings growth for 2023 is a modest -850.00% while over the next 5 years, the company’s earnings are expected to increase by 46.80%.

AG Dividends

First Majestic Silver Corp. is expected to release its next earnings report between March 08 and March 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

First Majestic Silver Corp. (NYSE:AG)’s Major holders

Insiders own 9.75% of the company shares, while shares held by institutions stand at 34.85% with a share float percentage of 38.61%. Investors are also buoyed by the number of investors in a company, with First Majestic Silver Corp. having a total of 311 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 26.3 million shares worth more than $188.81 million. As of Jun 29, 2022, Van Eck Associates Corporation held 10.00% of shares outstanding.

The other major institutional holder is ETF Managers Group, LLC, with the holding of over 11.04 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $79.28 million and represent 4.20% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and ETF Managers Tr-ETFMG Prime Junior Silver ETF. As of Sep 29, 2022, the former fund manager holds about 5.13% shares in the company for having 13.48 million shares of worth $102.74 million while later fund manager owns 11.04 million shares of worth $79.28 million as of Jun 29, 2022, which makes it owner of about 4.20% of company’s outstanding stock.

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