First Majestic Silver Corporation [AG] is -20.65% lower this YTD. Is it still time to buy?

First Majestic Silver Corporation [NYSE: AG] stock went on an upward path that rose over 3.61% on Monday, amounting to a one-week price decrease of less than -12.86%. The company report on January 16, 2024 at 7:00 AM that First Majestic Produces 6.6 Million AgEq Oz in Q4 2023 and 26.9 Million AgEq Oz in 2023; Announces 2024 Production and Cost Guidance and Conference Call Details.

Vancouver, British Columbia–(Newsfile Corp. – January 16, 2024) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (the “Company” or “First Majestic”) announces that total production in the fourth quarter of 2023 from the Company’s three producing mines in Mexico, namely the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine reached 6.6 million silver equivalent (“AgEq”) ounces, consisting of 2.6 million silver ounces and 46,585 gold ounces. Total production for the full year of 2023 consisted of 26.9 million AgEq ounces, aligned to the Company’s 2023 revised guidance of between 26.2 to 27.8 million AgEq ounces, consisting of 10.3 million silver ounces and 198,921 gold ounces.

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Over the last 12 months, AG stock dropped by -40.34%. The one-year First Majestic Silver Corporation stock forecast points to a potential upside of 22.78. The average equity rating for AG stock is currently 2.67, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.40 billion, with 286.94 million shares outstanding and 280.25 million shares in the current float. Compared to the average trading volume of 6.48M shares, AG stock reached a trading volume of 8093970 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on First Majestic Silver Corporation [AG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AG shares is $6.32 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 2.67. 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.

BMO Capital Markets have made an estimate for First Majestic Silver Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on September 14, 2023.

The Average True Range (ATR) for First Majestic Silver Corporation is set at 0.30, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 2.39. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 0.67.

AG Stock Performance Analysis:

First Majestic Silver Corporation [AG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.86. With this latest performance, AG shares dropped by -23.51% in over the last four-week period, additionally sinking by -28.76% over the last 6 months – not to mention a drop of -40.34% 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 37.01, with the RSI for the last a single of trading hit 34.65, and the three-weeks RSI is set at 39.90 for First Majestic Silver Corporation [AG]. The present Moving Average for the last 50 days of trading for this stock 5.61, while it was recorded at 4.80 for the last single week of trading, and 5.89 for the last 200 days.

Insight into First Majestic Silver Corporation Fundamentals:

First Majestic Silver Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.37 and a Current Ratio set at 2.97.

AG Stock EPS

With the latest financial reports released by the company, First Majestic Silver Corporation posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -75.00%. 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 Corporation go to 46.80%.

First Majestic Silver Corporation [AG] Institutonal Ownership Details

The top three institutional holders of AG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AG stock with ownership which is approximately 5.8325%.