First Majestic Silver Corp. [AG] Is Currently -2.82 below its 200 Period Moving Avg: What Does This Mean?

First Majestic Silver Corp. [NYSE: AG] closed the trading session at $6.54 on 09/26/22. The day’s price range saw the stock hit a low of $6.44, while the highest price level was $6.84. The company report on August 23, 2022 that First Majestic Intersects 19.35 g/t Au over 23.2m in Potential New High-Grade Gold Zone at Jerritt Canyon; Follow-up Drilling Confirms Presence of High-Grade Gold Pod near Active Underground Mining in Smith Mine.

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Vancouver, British Columbia–(Newsfile Corp. – August 23, 2022) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the “Company” or “First Majestic”) is pleased to announce additional positive drill results from its ongoing exploration program at the Jerritt Canyon Gold Mine (“Jerritt Canyon”) located in Elko County, Nevada.

“Today’s exploration results continue to validate our thesis that the area between the operating SSX and Smith mines is favourable for new, near-mine gold discoveries,” stated Keith Neumeyer, President and CEO of First Majestic. “Hole-1102 intersected what looks like a new high-grade area on the north side of the SSX/Smith connection drift. Nine follow up drill holes are being planned to further define this potential new zone. In addition, follow up drilling at Zone 10 in the Smith mine has confirmed the presence of a high-grade pod of gold mineralization approximately 90 metres southeast from the connection drift. Over the past few months, we advanced the mine development towards this high-grade pod in anticipation of initial ore extraction in early October. Furthermore, ore production from the West Gen mine is also planned to begin in October and expected to increase the amount of fresh ore production at Jerritt to over 3,000 tonnes per day by the end of 2022.”.

The stocks have a year to date performance of -41.13 percent and weekly performance of -17.11 percent. The stock has been moved at -52.85 percent over the last six months. The stock has performed -18.25 percent around the most recent 30 days and changed -19.16 percent over the most recent 3-months.

If compared to the average trading volume of 6.02M shares, AG reached to a volume of 9466254 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $10.23 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 0.43, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 2.66. The Price to Book ratio for the last quarter was 1.26.

AG stock trade performance evaluation

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 -17.11. With this latest performance, AG shares dropped by -18.25% in over the last four-week period, additionally sinking by -52.85% over the last 6 months – not to mention a drop of -44.53% 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 34.65, with the RSI for the last a single of trading hit 27.79, and the three-weeks RSI is set at 38.62 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 7.57, while it was recorded at 7.16 for the last single week of trading, and 9.78 for the last 200 days.

First Majestic Silver Corp. [AG]: An insightful look at the core 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.

Earnings per share (EPS) analysis for First Majestic Silver Corp. [AG] stock

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 Ownership positions

There are presently around $538 million, or 35.54% 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 26,296,222, which is approximately 0.503% of the company’s market cap and around 12.48% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 11,041,571 shares of the stock with an approximate value of $72.21 million in AG stocks shares; and VANGUARD GROUP INC, currently with $48.84 million in AG stock with ownership of nearly 2.742% 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 8,967,281 shares. Additionally, 80 investors decreased positions by around 10,394,164 shares, while 48 investors held positions by with 62,866,843 shares. The mentioned changes placed institutional holdings at 82,228,288 shares, according to the latest SEC report filing. AG stock had 23 new institutional investments in for a total of 1,548,809 shares, while 23 institutional investors sold positions of 651,692 shares during the same period.


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