In the last trading session, 9.39 million First Majestic Silver Corp. (NYSE:AG) shares changed hands as the company’s beta touched 1.12. With the company’s per share price at $5.80 changed hands at $0.21 or 3.76% during last session, the market valuation stood at $1.66B. AG’s last price was a discount, traded about -69.14% off its 52-week high of $9.81. The share price had its 52-week low at $5.24, which suggests the last value was 9.66% up since then. When we look at First Majestic Silver Corp.’s average trading volume, we note the 10-day average is 3.93 million shares, with the 3-month average coming to 4.25 million.
Analysts gave the First Majestic Silver Corp. (AG) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.30. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended AG as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. First Majestic Silver Corp.’s EPS for the current quarter is expected to be $0.03.
First Majestic Silver Corp. (NYSE:AG) trade information
Instantly AG was in green as seen at the end of in last trading. With action 5.07%, the performance over the past five days has been green. The jump to weekly highs of 5.89 on Friday, 09/15/23 added 3.76% to the stock’s daily price. The company’s shares are showing year-to-date downside of -30.46%, with the 5-day performance at 5.07% in the green. However, in the 30-day time frame, First Majestic Silver Corp. (NYSE:AG) is 0.17% up. Looking at the short shares, we see there were 17.7 million shares sold at short interest cover period of 4.17 days.
The consensus price target for the stock as assigned by Wall Street analysts is $8.54, meaning bulls need an upside of 32.08% from its current market value. According to analyst projections, AG’s forecast low is $6.10 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -106.9% plunge from its current level, while the stock would need to soar -5.17% for it to hit the projected low.
First Majestic Silver Corp. (AG) estimates and forecasts
Data shows that the First Majestic Silver Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.18% over the past 6 months, a 76.19% in annual growth rate that is considerably higher than the industry average of 17.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for First Majestic Silver Corp. will rise 133.30%, while the growth in revenue is estimated to hit 157.10% for the next quarter. Year-over-year growth is forecast to reach -0.50% down from the last financial year.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -33.08%. The 2023 estimates are for First Majestic Silver Corp. earnings to increase by 123.80%, but the outlook for the next 5-year period is at 46.80% per year.
First Majestic Silver Corp. is expected to release its next quarterly earnings report between November 07 and November 13.
First Majestic Silver Corp. (NYSE:AG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.29% of First Majestic Silver Corp. shares while 35.99% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 36.83%. There are 35.99% institutions holding the First Majestic Silver Corp. stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2023, the company held 9.94% of the shares, roughly 28.55 million AG shares worth $165.61 million.
ETF Managers Group, LLC holds the second largest percentage of outstanding shares, with 4.49% or 12.9 million shares worth $74.84 million as of Mar 30, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and ETF Managers Tr-ETFMG Prime Junior Silver ETF. With 14.78 million shares estimated at $85.7 million under it, the former controlled 5.14% of total outstanding shares. On the other hand, ETF Managers Tr-ETFMG Prime Junior Silver ETF held about 4.48% of the shares, roughly 12.88 million shares worth around $74.72 million.