Is First Majestic Silver Corporation (NYSE: AG) Worth Your Money In 2024?

In the last trading session, 8.68 million shares of the First Majestic Silver Corporation (NYSE:AG) were traded, and its beta was 1.42. Most recently the company’s share price was $5.88, and it changed around $0.3 or 5.38% from the last close, which brings the market valuation of the company to $1.69B. AG currently trades at a discount to its 52-week high of $8.07, offering almost -37.24% off that amount. The share price’s 52-week low was $4.17, which indicates that the current value has risen by an impressive 29.08% since then. We note from First Majestic Silver Corporation’s average daily trading volume that its 10-day average is 7.58 million shares, with the 3-month average coming to 7.40 million.

First Majestic Silver Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 2.67. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended AG as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. First Majestic Silver Corporation is expected to report earnings per share of -$0.03 for the current quarter.

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First Majestic Silver Corporation (NYSE:AG) trade information

Instantly AG has showed a green trend with a performance of 5.38% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -4.39% year-to-date, but still up 8.29% over the last five days. On the other hand, First Majestic Silver Corporation (NYSE:AG) is 32.73% up in the 30-day period. We can see from the shorts that 19.95 million shares have been sold at a short interest cover period of 2.61 day(s).

First Majestic Silver Corporation (AG) estimates and forecasts

First Majestic Silver Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 19.51 percent over the past six months and at a 25.00% annual growth rate that is well above the industry average of 16.60%. The year-over-year growth rate is expected to be -18.00%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $115 million in revenue for the current quarter. 1 analysts expect First Majestic Silver Corporation to make $116 million in revenue for the quarter ending Jun 2024.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 15.51%. First Majestic Silver Corporation earnings are expected to increase by 21.14% in 2024, but the outlook is positive 46.80% per year for the next five years.

AG Dividends

First Majestic Silver Corporation’s next quarterly earnings report is expected to be released around May 02 and May 06. The annual dividend yield of the stock is 0.34 percent and its annual dividend per share was 0.02. It is important to note, however, that the 0.34% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 2.22% of First Majestic Silver Corporation shares, and 35.95% of them are in the hands of institutional investors. The stock currently has a share float of 36.77%. First Majestic Silver Corporation stock is held by 301 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Jun 29, 2023, it held 9.95% of the shares, which is about 28.55 million shares worth $161.32 million.

ETF Managers Group, LLC, with 4.50% or 12.9 million shares worth $93.03 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and ETF Managers Tr-ETFMG Prime Junior Silver ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 15.26 million shares worth $78.31 million, making up 5.32% of all outstanding shares. On the other hand, ETF Managers Tr-ETFMG Prime Junior Silver ETF held roughly 12.88 million shares worth around $72.79 million, which represents about 4.49% of the total shares outstanding.