First Majestic Silver Corp. [AG] fell -20.96% so far this year. What now?

First Majestic Silver Corp. [NYSE: AG] loss -5.65% or -0.58 points to close at $9.69 with a heavy trading volume of 6954843 shares. The company report on November 13, 2020 that First Majestic to Appeal Circuit Court Decision to Nullify APA.

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First Majestic Silver Corp. (“First Majestic” or the “Company”) announced that its Mexican subsidiary Primero Empresa Minera, S.A. de C.V. (“PEM”) has now been provided with written reasons for the decision made on September 23, 2020 by the Mexican Federal Court on Administrative Matters (“Federal Court”), nullifying the Advance Pricing Agreement (“APA”) concluded in 2012 between PEM and the Mexican tax authority, Servicio de Administracion Tributaria (“SAT”).

The Federal Court’s decision directs SAT to re-examine the evidence and basis for the issuance of the APA with retroactive effect, for the following key reasons (i) SAT’s errors in analyzing PEM’s request for the APA and the evidence provided in support of the request; and (ii) SAT’s failure to request from PEM certain additional information before issuing the APA. The Company’s legal advisors having now reviewed the written reasons continue to be of the view that the Federal Court’s decision is flawed both due to procedural irregularities and failure to address the relevant evidence and legal authorities. The Company intends to appeal the decision to the Circuit Courts by the December 1, 2020 deadline.

It opened the trading session at $10.18, the shares rose to $10.22 and dropped to $9.62, the range by which the price of stock traded the whole day. The daily chart for AG points out that the company has recorded 2.32% gains over the past six months. However, it is still -132.37% lower than its most recent low trading price.

If we look at the average trading volume of 5.78M shares, AG reached to a volume of 6954843 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about First Majestic Silver Corp. [AG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AG shares is $9.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AG stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Securities have made an estimate for First Majestic Silver Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 20, 2020. The new note on the price target was released on July 24, 2020, representing the official price target for First Majestic Silver Corp. stock. Previously, the target price had yet another raise to $6, while B. Riley FBR analysts kept a Neutral rating on AG stock.

The Average True Range (ATR) for First Majestic Silver Corp. is set at 0.53, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 6.25. The Price to Book ratio for the last quarter was 2.66.

Trading performance analysis for AG stock

First Majestic Silver Corp. [AG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.26. With this latest performance, AG shares dropped by -11.75% in over the last four-week period, additionally plugging by 2.32% over the last 6 months – not to mention a drop of -7.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AG stock in for the last two-week period is set at 39.90, with the RSI for the last a single of trading hit 32.42, and the three-weeks RSI is set at 41.84 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 10.57, while it was recorded at 10.20 for the last single week of trading, and 9.74 for the last 200 days.

First Majestic Silver Corp. [AG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and First Majestic Silver Corp. [AG] shares currently have an operating margin of +6.25 and a Gross Margin at +17.53. First Majestic Silver Corp.’s Net Margin is presently recorded at -11.12.

Return on Total Capital for AG is now 2.86, given the latest momentum, and Return on Invested Capital for the company is -5.12. Return on Equity for this stock declined to -6.43, with Return on Assets sitting at -4.13. When it comes to the capital structure of this company, First Majestic Silver Corp. [AG] has a Total Debt to Total Equity ratio set at 26.84. Additionally, AG Total Debt to Total Capital is recorded at 21.16, with Total Debt to Total Assets ending up at 17.29. Long-Term Debt to Equity for the company is recorded at 25.62, with the Long-Term Debt to Total Capital now at 20.20.

Reflecting on the efficiency of the workforce at the company, First Majestic Silver Corp. [AG] managed to generate an average of -$10,709 per employee. Receivables Turnover for the company is 7.18 with a Total Asset Turnover recorded at a value of 0.37.

First Majestic Silver Corp. [AG]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, First Majestic Silver Corp. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for First Majestic Silver Corp. go to 46.80%.

An analysis of insider ownership at First Majestic Silver Corp. [AG]

There are presently around $680 million, or 33.32% of AG stock, in the hands of institutional investors. The top three institutional holders of AG stocks are: VAN ECK ASSOCIATES CORP with ownership of 21,716,411, which is approximately 8.581% of the company’s market cap and around 11.07% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 5,712,169 shares of the stock with an approximate value of $55.35 million in AG stocks shares; and VANGUARD GROUP INC, currently with $52.27 million in AG stock with ownership of nearly 8.088% of the company’s market capitalization.

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Positions in First Majestic Silver Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 95 institutional holders increased their position in First Majestic Silver Corp. [NYSE:AG] by around 20,260,921 shares. Additionally, 58 investors decreased positions by around 12,518,732 shares, while 23 investors held positions by with 37,421,420 shares. The mentioned changes placed institutional holdings at 70,201,073 shares, according to the latest SEC report filing. AG stock had 32 new institutional investments in for a total of 9,186,617 shares, while 24 institutional investors sold positions of 10,362,596 shares during the same period.

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