First Majestic Silver Corp. [AG] Stock trading around $9.71 per share: What’s Next?

First Majestic Silver Corp. [NYSE: AG] surged by $0.23 during the normal trading session on Monday and reaching a high of $9.80 during the day while it closed the day at $9.71. The company report on November 9, 2022 that First Majestic Reports Third Quarter Financial Results and Quarterly Dividend Payment.


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Vancouver, British Columbia–(Newsfile Corp. – November 9, 2022) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the “Company” or “First Majestic”) is pleased to announce the release of the unaudited interim consolidated financial results of the Company for the third quarter ended September 30, 2022. The full version of the financial statements and the management discussion and analysis can be viewed on the Company’s website at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

First Majestic Silver Corp. stock has also gained 7.53% of its value over the past 7 days. However, AG stock has inclined by 20.02% in the 3 months of the year. Over the past six months meanwhile, it has gained 19.43% and lost -12.60% year-on date.

The market cap for AG stock reached $2.58 billion, with 265.46 million shares outstanding and 237.09 million shares in the current float. Compared to the average trading volume of 7.17M shares, AG reached a trading volume of 8238935 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 $10.30 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 0.55, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 3.79. The Price to Book ratio for the last quarter was 1.90.

AG stock trade performance evaluation

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 7.53. With this latest performance, AG shares gained by 27.76% in over the last four-week period, additionally plugging by 19.43% over the last 6 months – not to mention a drop of -29.89% 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 63.80, with the RSI for the last a single of trading hit 67.08, and the three-weeks RSI is set at 61.32 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 8.13, while it was recorded at 9.42 for the last single week of trading, and 9.35 for the last 200 days.

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 $787 million, or 34.00% 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 25,980,114, which is approximately -1.202% of the company’s market cap and around 9.66% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 9,986,328 shares of the stock with an approximate value of $96.97 million in AG stocks shares; and VANGUARD GROUP INC, currently with $75.17 million in AG stock with ownership of nearly 3.672% of the company’s market capitalization.

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 106 institutional holders increased their position in First Majestic Silver Corp. [NYSE:AG] by around 6,349,883 shares. Additionally, 75 investors decreased positions by around 7,661,382 shares, while 48 investors held positions by with 67,085,473 shares. The mentioned changes placed institutional holdings at 81,096,738 shares, according to the latest SEC report filing. AG stock had 31 new institutional investments in for a total of 1,964,232 shares, while 24 institutional investors sold positions of 843,379 shares during the same period.

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