First Majestic Silver Corp. [NYSE: AG] surged by $0.04 during the normal trading session on Wednesday and reaching a high of $5.59 during the day while it closed the day at $5.54. The company report on August 14, 2023 at 6:00 PM that First Majestic Announces Closing Sale of La Parrilla.
Vancouver, British Columbia–(Newsfile Corp. – August 14, 2023) – 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 its 100% owned past producing La Parrilla Silver Mine located in the state of Durango, Mexico to Golden Tag Resources Ltd. (“Golden Tag”) (TSXV: GOG) following the receipt of approval from the Comisión Federal de Competencia Económica (COFECE) and the TSX Venture Exchange as well as the completion of other customary closing conditions. In consideration of the sale, First Majestic received 143,673,684 common shares of Golden Tag at a deemed price of CDN$0.19 per common share for an approximate value of CDN$27.0 million or US$20.0 million (the “Consideration Shares”). First Majestic will also receive up to US$13.5 million (see terms below) in the form of three milestone payments in either cash or shares in Golden Tag with the share price and number of shares to be determined upon the anniversary date (where applicable).
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First Majestic Silver Corp. stock has also loss -2.46% of its value over the past 7 days. However, AG stock has declined by -1.60% in the 3 months of the year. Over the past six months meanwhile, it has lost -20.74% and lost -33.57% year-on date.
The market cap for AG stock reached $1.59 billion, with 286.87 million shares outstanding and 280.20 million shares in the current float. Compared to the average trading volume of 4.25M shares, AG reached a trading volume of 3594834 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]:
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.
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 -2.46. With this latest performance, AG shares dropped by -9.92% in over the last four-week period, additionally sinking by -20.74% over the last 6 months – not to mention a drop of -34.59% 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 37.81, with the RSI for the last a single of trading hit 33.65, and the three-weeks RSI is set at 40.74 for First Majestic Silver Corp. [AG]. The present Moving Average for the last 50 days of trading for this stock 6.11, while it was recorded at 5.55 for the last single week of trading, and 6.94 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.
Reflecting on the efficiency of the workforce at the company, First Majestic Silver Corp. [AG] managed to generate an average of -$32,104 per employee. 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]: Institutional Ownership
The top three institutional holders of AG stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in AG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in AG stock with ownership which is approximately 5.7381%.
