FY2024 Earnings Estimate for AG Issued By Scotiabank

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Scotiabank issued their FY2024 earnings per share estimates for First Majestic Silver in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Habib forecasts 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 posted its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The company had revenue of $146.09 million for the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%.

Separately, HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday.

First Majestic Silver Price Performance

Shares of NYSE:AG opened at $5.84 on Monday. The company has a market capitalization of $1.76 billion, a P/E ratio of -21.63 and a beta of 1.25. First Majestic Silver has a 1-year low of $4.17 and a 1-year high of $8.44. The firm’s 50 day simple moving average is $6.09 and its two-hundred day simple moving average is $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.

First Majestic Silver Increases Dividend

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

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of First Majestic Silver by 77.3% during the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $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 during the second quarter valued at approximately $70,000. Y Intercept Hong Kong Ltd purchased a new position in First Majestic Silver during the 3rd quarter valued at approximately $70,000. Corundum Trust Company INC bought a new stake in First Majestic Silver in the 3rd quarter worth approximately $72,000. Finally, Creative Planning bought a new stake in First Majestic Silver in the 3rd quarter worth approximately $72,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Company Profile

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.