First Majestic Silver Corp. [AG] Is Currently -1.22 below its 200 Period Moving Avg: What Does This Mean?

First Majestic Silver Corp. [NYSE: AG] plunged by -$0.09 during the normal trading session on Monday and reaching a high of $7.34 during the day while it closed the day at $7.28. The company report on March 31, 2023 that First Majestic Announces 2022 Mineral Reserve and Mineral Resource Estimates.

Vancouver, British Columbia–(Newsfile Corp. – March 31, 2023) – FIRST MAJESTIC SILVER CORP. (NYSE: AG) (TSX: FR) (FSE: FMV) (the “Company” or “First Majestic”) is pleased to announce the 2022 Mineral Reserve and Mineral Resource estimates for its four material mineral properties with an effective date of December 31, 2022. Three material properties are currently in production: the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine. The fourth material property, the Jerritt Canyon Gold Mine, was recently placed in temporary suspension to focus on exploration, definition, and expansion of the mineral resources and optimization of mine planning and plant operations.

During 2022, the Company completed a total of 249,201 metres of exploration drilling representing a 9% increase in metres drilled compared to the prior year. Approximately 80% of this drilling was focused on near mine or brownfield targets while the remainder was focused on greenfield targets looking for new discoveries. In 2022, the Company’s Mineral Resource estimates show an increase in contained silver equivalent ounces more than offsetting mine depletion following a record 31.3 million silver equivalent ounces in annual production.

First Majestic Silver Corp. stock has also loss -3.83% of its value over the past 7 days. However, AG stock has declined by -16.99% in the 3 months of the year. Over the past six months meanwhile, it has lost -11.11% and lost -12.71% year-on date.

The market cap for AG stock reached $2.00 billion, with 274.49 million shares outstanding and 267.75 million shares in the current float. Compared to the average trading volume of 7.56M shares, AG reached a trading volume of 5960871 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 $9.50 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 0.38, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 3.20. The Price to Book ratio for the last quarter was 1.41.

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 -3.83. With this latest performance, AG shares gained by 5.20% in over the last four-week period, additionally sinking by -11.11% over the last 6 months – not to mention a drop of -48.91% 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 51.97, with the RSI for the last a single of trading hit 49.87, and the three-weeks RSI is set at 51.36 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 6.94, while it was recorded at 7.53 for the last single week of trading, and 7.83 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 -8.27 and a Gross Margin at +1.45. First Majestic Silver Corp.’s Net Margin is presently recorded at -18.31.

Return on Total Capital for AG is now -3.12, given the latest momentum, and Return on Invested Capital for the company is -6.96. Return on Equity for this stock declined to -8.05, with Return on Assets sitting at -5.37. When it comes to the capital structure of this company, First Majestic Silver Corp. [AG] has a Total Debt to Total Equity ratio set at 17.57. Additionally, AG Total Debt to Total Capital is recorded at 14.94, with Total Debt to Total Assets ending up at 11.75. Long-Term Debt to Equity for the company is recorded at 16.55, with the Long-Term Debt to Total Capital now at 14.08.

Receivables Turnover for the company is 13.07 with a Total Asset Turnover recorded at a value of 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 $544 million, or 33.21% 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 26,311,164, which is approximately 1.274% of the company’s market cap and around 2.43% of the total institutional ownership; VANGUARD GROUP INC, holding 7,926,146 shares of the stock with an approximate value of $58.42 million in AG stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $36.65 million in AG stock with ownership of nearly 10.936% of the company’s market capitalization.

Positions in First Majestic Silver Corp. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 109 institutional holders increased their position in First Majestic Silver Corp. [NYSE:AG] by around 9,537,238 shares. Additionally, 84 investors decreased positions by around 17,825,424 shares, while 47 investors held positions by with 46,496,215 shares. The mentioned changes placed institutional holdings at 73,858,877 shares, according to the latest SEC report filing. AG stock had 37 new institutional investments in for a total of 1,509,799 shares, while 27 institutional investors sold positions of 12,831,736 shares during the same period.