Equities Analysts Set Expectations for AG FY2024 Earnings

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Investment analysts at Scotiabank issued their FY2024 earnings estimates for shares of First Majestic Silver in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Habib anticipates that the mining company will post earnings of ($0.15) per share for the year. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.17) per share. Scotiabank also issued estimates for First Majestic Silver’s FY2025 earnings at $0.18 EPS.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.12). The firm had revenue of $146.09 million for the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%.

Separately, HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a research report on Friday, January 10th.

First Majestic Silver Stock Performance

Shares of AG stock opened at $5.84 on Monday. First Majestic Silver has a 12-month low of $4.17 and a 12-month high of $8.44. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -21.63 and a beta of 1.25. The business has a 50 day simple moving average of $6.04 and a 200 day simple moving average of $6.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares in the last quarter. Dark Forest Capital Management LP bought a new position in First Majestic Silver in the 2nd quarter valued at approximately $70,000. Y Intercept Hong Kong Ltd bought a new position in First Majestic Silver in the 3rd quarter valued at approximately $70,000. Corundum Trust Company INC bought a new position in shares of First Majestic Silver during the third quarter valued at $72,000. Finally, Creative Planning bought a new position in shares of First Majestic Silver during the third quarter valued at $72,000. 27.16% of the stock is owned by institutional investors.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.0048 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, November 15th. First Majestic Silver’s payout ratio is currently -3.70%.

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 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.