First Majestic Silver Corp. [NYSE: AG] traded at a low on 01/18/23, posting a -2.11 loss after which it closed the day’ session at $8.36. The company report on December 21, 2022 that First Majestic Announces Closing Sale of Royalty Portfolio to Metalla.
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Vancouver, British Columbia–(Newsfile Corp. – December 21, 2022) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the “Company” or “First Majestic”) is pleased to announce that it has closed its previously announced transaction to sell a portfolio of royalty interests to Metalla Royalty & Streaming Ltd. (NYSE American: MTA) (TSXV: MTA) (“Metalla”) following the receipt of approval from the TSX Venture Exchange as well as the completion of other customary closing conditions. In consideration of the sale, First Majestic received 4,168,056 shares of Metalla at a deemed price of $4.7984 per share for an approximate value of US$20.0 million.
The results of the trading session contributed to over 5546421 shares changing hands. Over the past one week, the price volatility of First Majestic Silver Corp. stands at 3.95% while the volatility over the past one month is 4.18%.
The market cap for AG stock reached $2.28 billion, with 272.58 million shares outstanding and 239.66 million shares in the current float. Compared to the average trading volume of 6.34M shares, AG reached a trading volume of 5546421 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $10.69 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 0.40, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 3.35. The Price to Book ratio for the last quarter was 1.64.
How has AG stock performed recently?
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 -6.28. With this latest performance, AG shares dropped by -1.42% in over the last four-week period, additionally plugging by 17.09% over the last 6 months – not to mention a drop of -21.87% 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 42.67, with the RSI for the last a single of trading hit 38.63, and the three-weeks RSI is set at 45.21 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 8.95, while it was recorded at 8.66 for the last single week of trading, and 8.64 for the last 200 days.
First Majestic Silver Corp. [AG]: Deeper insight into the 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 analysis for First Majestic Silver Corp. [AG]
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%.
Insider trade positions for First Majestic Silver Corp. [AG]
There are presently around $668 million, or 35.17% 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 9.73% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 9,986,328 shares of the stock with an approximate value of $83.49 million in AG stocks shares; and VANGUARD GROUP INC, currently with $64.72 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 February and at the time of the February reporting period, where 106 institutional holders increased their position in First Majestic Silver Corp. [NYSE:AG] by around 6,953,444 shares. Additionally, 76 investors decreased positions by around 7,449,551 shares, while 50 investors held positions by with 65,538,113 shares. The mentioned changes placed institutional holdings at 79,941,108 shares, according to the latest SEC report filing. AG stock had 33 new institutional investments in for a total of 2,005,457 shares, while 27 institutional investors sold positions of 873,904 shares during the same period.