First Majestic Silver Corp. [AG] Stock trading around $7.94 per share: What’s Next?

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First Majestic Silver Corp. [NYSE: AG] stock went on a downward path that fall over -10.89% on Monday, amounting to a one-week price decrease of less than -9.36%. The company report on May 31, 2022 that First Majestic Intersects 8.39 g/t Au over 29.7m near Active Underground Mining at Jerritt Canyon.


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Vancouver, British Columbia–(Newsfile Corp. – May 31, 2022) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the “Company” or “First Majestic”) is pleased to announce positive drill results from its ongoing exploration program at the Jerritt Canyon Gold Mine (“Jerritt Canyon”) located in Elko County, Nevada. Since acquiring the mine on April 30, 2021, the Company has completed over 70,000 metres in exploration drill holes consisting of step-out and greenfield targets designed to increase the confidence of the mineral resource and add new ounces. In 2022, the Company plans to drill approximately 135,000 metres at Jerritt Canyon with a focus primarily on the Smith/SSX mines, and the Winters Creek, Waterpipe, Wheeler, and Murray areas.

The Company is also pleased to announce that the United States Forest Service (“USFS”) has approved an exploration permit to conduct activities across 42,976 acres (17,976 hectares) of USFS land at Jerritt Canyon. This permit allows for up to 500 acres of newly constructed exploration roads and up to 1,100 new drill pads. The Company is now prioritizing exploration drill targets and is expected to commence drilling on July 1, 2022.

Over the last 12 months, AG stock dropped by -56.45%. The one-year First Majestic Silver Corp. stock forecast points to a potential upside of 37.48. The average equity rating for AG stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.04 billion, with 256.61 million shares outstanding and 227.21 million shares in the current float. Compared to the average trading volume of 6.19M shares, AG stock reached a trading volume of 8520881 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $12.70 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 2.50. 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 December 07, 2021. The new note on the price target was released on October 20, 2020, representing the official price target for First Majestic Silver Corp. stock.

The Average True Range (ATR) for First Majestic Silver Corp. is set at 0.58, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 3.49. The Price to Book ratio for the last quarter was 1.46.

AG Stock Performance Analysis:

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 -9.36. With this latest performance, AG shares gained by 6.86% in over the last four-week period, additionally sinking by -25.86% over the last 6 months – not to mention a drop of -56.45% 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 38.82, with the RSI for the last a single of trading hit 38.49, and the three-weeks RSI is set at 38.69 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 10.23, while it was recorded at 8.55 for the last single week of trading, and 11.53 for the last 200 days.

Insight into First Majestic Silver Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and First Majestic Silver Corp. [AG] shares currently have an operating margin of +8.01 and a Gross Margin at +16.52. First Majestic Silver Corp.’s Net Margin is presently recorded at -0.84.

Return on Equity for this stock declined to -0.43, with Return on Assets sitting at -0.29.

AG Stock EPS

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%.

First Majestic Silver Corp. [AG] Insider Position Details

There are presently around $746 million, or 34.13% 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 26,164,514, which is approximately 9.61% of the company’s market cap and around 12.50% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 10,129,038 shares of the stock with an approximate value of $90.25 million in AG stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $78.92 million in AG stock with ownership of nearly 110.765% of the company’s market capitalization.

Positions in First Majestic Silver Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 92 institutional holders increased their position in First Majestic Silver Corp. [NYSE:AG] by around 15,343,227 shares. Additionally, 93 investors decreased positions by around 5,641,518 shares, while 50 investors held positions by with 62,739,127 shares. The mentioned changes placed institutional holdings at 83,723,872 shares, according to the latest SEC report filing. AG stock had 30 new institutional investments in for a total of 2,650,688 shares, while 36 institutional investors sold positions of 1,710,798 shares during the same period.

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