First Majestic Silver Corp. [NYSE: AG] stock went on a downward path that fall over -1.68% on Tuesday, amounting to a one-week price increase of more than 13.62%. The company report on July 20, 2022 that First Majestic Silver Corp. Announces At-The-Market Offering Equity Program.
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Vancouver, British Columbia–(Newsfile Corp. – July 20, 2022) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (the “Company” or “First Majestic”) announces it has entered into an equity distribution agreement (the “Sales Agreement”) with BMO Capital Markets and TD Securities (the “Agents”) pursuant to which the Company may, at its discretion and from time-to-time until June 18, 2023, sell, through the Agents, such number of common shares of the Company (“Common Shares”) as would result in aggregate gross proceeds to the Company of up to US$100.0 million (the “Offering”). The Sales Agreement replaces the previous equity distribution agreement entered into between the Company and the Agents dated May 28, 2021, under which all sales have been completed. Sales of Common Shares will be made through “at-the-market distributions” as defined in the Canadian Securities Administrators’ National Instrument 44-102-Shelf Distributions, including sales made directly on the New York Stock Exchange (the “NYSE”), or any other recognized marketplace upon which the Common Shares are listed or quoted or where the Common Shares are traded in the United States. The sales, if any, of Common Shares made under the Sales Agreement will be made by means of ordinary brokers’ transactions on the NYSE at market prices, or as otherwise agreed upon by the Company and the Agents. No offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange (the “TSX”) or other trading markets in Canada.
The Offering will be made by way of a prospectus supplement to the base prospectus included in the Company’s existing US registration statement on Form F-10 (the “Registration Statement”) and Canadian short form base shelf prospectus (the “Base Shelf Prospectus”) dated May 18, 2021. The prospectus supplement relating to the Offering has been filed with the securities commissions in each of the provinces of Canada (other than Québec) and the United States Securities and Exchange Commission (the “SEC”). The US prospectus supplement (together with the related base prospectus) will be available on the SEC’s website (www.sec.gov) and the Canadian prospectus supplement (together with the related Base Shelf Prospectus) will be available on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com. Alternatively, the Agents will provide copies of the US prospectus and US prospectus supplement upon request by contacting BMO Capital Markets (c/o BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd Street, New York, NY 10036, or by telephone at (800) 414-3627, or by email: email@example.com) or TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, telephone: 1-855-495-9846.
Over the last 12 months, AG stock dropped by -43.94%. The one-year First Majestic Silver Corp. stock forecast points to a potential upside of 25.95. The average equity rating for AG stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.00 billion, with 262.85 million shares outstanding and 236.74 million shares in the current float. Compared to the average trading volume of 6.44M shares, AG stock reached a trading volume of 5078679 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 $10.25 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 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 0.42, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 3.12. The Price to Book ratio for the last quarter was 1.38.
AG Stock Performance Analysis:
First Majestic Silver Corp. [AG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.62. With this latest performance, AG shares gained by 2.15% in over the last four-week period, additionally sinking by -25.30% over the last 6 months – not to mention a drop of -43.94% 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 54.46, with the RSI for the last a single of trading hit 61.32, and the three-weeks RSI is set at 49.82 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 7.69, while it was recorded at 7.51 for the last single week of trading, and 10.72 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 $555 million, or 33.58% 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 12.49% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 10,129,038 shares of the stock with an approximate value of $76.88 million in AG stocks shares; and VANGUARD GROUP INC, currently with $55.17 million in AG stock with ownership of nearly 2.908% of the company’s market capitalization.
Positions in First Majestic Silver Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 95 institutional holders increased their position in First Majestic Silver Corp. [NYSE:AG] by around 8,975,592 shares. Additionally, 85 investors decreased positions by around 15,889,126 shares, while 48 investors held positions by with 48,303,803 shares. The mentioned changes placed institutional holdings at 73,168,521 shares, according to the latest SEC report filing. AG stock had 29 new institutional investments in for a total of 894,459 shares, while 31 institutional investors sold positions of 10,507,340 shares during the same period.