Sunday, April 11, 2021

First Majestic Silver Corp. [AG] gain 17.78% so far this year. What now?

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First Majestic Silver Corp. [NYSE: AG] gained 0.57% or 0.09 points to close at $15.83 with a heavy trading volume of 2910596 shares. The company report on March 18, 2021 that First Majestic Renews Share Repurchase Program.

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First Majestic Silver Corp. (“First Majestic” or the “Company”) announces that it has received regulatory consent to extend its share repurchase program (the “Share Repurchase”) pursuant to a normal course issuer bid in the open market through the facilities of the Toronto Stock Exchange (“TSX”) or alternative Canadian market places over the next 12 months. Pursuant to the Share Repurchase, the Company has the ability to repurchase up to 10,000,000 common shares of the Company which represents approximately 4.5% of the 221,681,131 issued and outstanding shares of the Company as of March 8, 2021.


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In order to implement the Share Repurchase, First Majestic has received TSX approval of its notice of intention to make a normal course issuer bid. The notice provides that First Majestic may, during the 12 month period commencing on March 22, 2021 and ending on or before March 21, 2022, purchase up to 10,000,000 common shares through the facilities of the TSX and alternative Canadian marketplaces.

It opened the trading session at $15.84, the shares rose to $15.97 and dropped to $15.555, the range by which the price of stock traded the whole day. The daily chart for AG points out that the company has recorded 54.29% gains over the past six months. However, it is still -169.68% lower than its most recent low trading price.

If we look at the average trading volume of 10.11M shares, AG reached to a volume of 2910596 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 0.90, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 9.64. The Price to Book ratio for the last quarter was 4.13.

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 -6.11. With this latest performance, AG shares dropped by -16.46% in over the last four-week period, additionally plugging by 54.29% over the last 6 months – not to mention a rise of 118.65% 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 44.36, with the RSI for the last a single of trading hit 40.12, and the three-weeks RSI is set at 47.45 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 16.50, while it was recorded at 15.94 for the last single week of trading, and 12.54 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 +15.97 and a Gross Margin at +30.48. First Majestic Silver Corp.’s Net Margin is presently recorded at +6.34.

Return on Total Capital for AG is now 6.51, given the latest momentum, and Return on Invested Capital for the company is 2.62. Return on Equity for this stock inclined to 3.19, with Return on Assets sitting at 2.13. 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 20.38. Additionally, AG Total Debt to Total Capital is recorded at 16.93, with Total Debt to Total Assets ending up at 14.00. Long-Term Debt to Equity for the company is recorded at 18.46, with the Long-Term Debt to Total Capital now at 15.33.

Receivables Turnover for the company is 9.52 with a Total Asset Turnover recorded at a value of 0.34.

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 $1,303 million, or 34.22% 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 23,748,313, which is approximately 9.357% of the company’s market cap and around 11.08% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 7,960,927 shares of the stock with an approximate value of $126.02 million in AG stocks shares; and VANGUARD GROUP INC, currently with $87.1 million in AG stock with ownership of nearly 2.004% 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 February and at the time of the February reporting period, where 107 institutional holders increased their position in First Majestic Silver Corp. [NYSE:AG] by around 19,584,487 shares. Additionally, 53 investors decreased positions by around 2,760,071 shares, while 32 investors held positions by with 59,965,916 shares. The mentioned changes placed institutional holdings at 82,310,474 shares, according to the latest SEC report filing. AG stock had 41 new institutional investments in for a total of 7,047,563 shares, while 19 institutional investors sold positions of 791,560 shares during the same period.

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