First Majestic Silver Corporation [AG] is -27.64% lower this YTD. Is it still time to buy?

First Majestic Silver Corporation [NYSE: AG] traded at a low on Wednesday, posting a -1.77 loss after which it closed the day’ session at $4.45. The company report on February 7, 2024 at 7:00 AM that First Majestic Reports Positive Exploration Results at San Dimas, Santa Elena and Jerritt Canyon Properties.

Vancouver, British Columbia–(Newsfile Corp. – February 7, 2024) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (the “Company” or “First Majestic”) is pleased to announce positive drilling results from its 2023 exploration programs at San Dimas, Santa Elena, and Jerritt Canyon. The drilling programs were designed to test new silver and gold mineral targets, increase Mineral Resources and convert Mineral Resources to Mineral Reserves.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

“We are very encouraged with the exploration results that have been achieved throughout 2023,” stated Keith Neumeyer, President & CEO of First Majestic. “The recent drilling has accomplished multiple goals from highlighting new geologically prospective areas to expanding and further defining known silver and gold mineralization. These results provide the basis for First Majestic’s year-end update of Mineral Resource and Mineral Reserve estimates expected to be released at the end of March. At San Dimas, we have tested previously undrilled veins like the Peggy vein and have explored extensions of known mineralization such as the Perez, Santa Teresa and Rosario veins. At Santa Elena, infill drilling of the Ermitaño vein intersected mineralization that is in many cases better than expected while follow up drilling of the new Javelin target at Jerritt Canyon has identified what appears to be a new gold mineralized zone near underground infrastructure and continues to highlight the exploration potential of the asset. These results set us up well for an exciting start for 2024.”.

The results of the trading session contributed to over 5828191 shares changing hands. Over the past one week, the price volatility of First Majestic Silver Corporation stands at 3.52% while the volatility over the past one month is 4.08%.

The market cap for AG stock reached $1.28 billion, with 286.94 million shares outstanding and 280.20 million shares in the current float. Compared to the average trading volume of 6.69M shares, AG reached a trading volume of 5828191 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 Corporation [AG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AG shares is $5.85 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 new note on the price target was released on December 07, 2021, representing the official price target for First Majestic Silver Corporation stock.

The Average True Range (ATR) for First Majestic Silver Corporation is set at 0.22, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 2.18. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 0.67.

How has AG stock performed recently?

First Majestic Silver Corporation [AG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.70. With this latest performance, AG shares dropped by -8.81% in over the last four-week period, additionally sinking by -24.45% over the last 6 months – not to mention a drop of -37.85% 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 40.06, with the RSI for the last a single of trading hit 40.78, and the three-weeks RSI is set at 40.61 for First Majestic Silver Corporation [AG]. The present Moving Average for the last 50 days of trading for this stock 5.26, while it was recorded at 4.47 for the last single week of trading, and 5.62 for the last 200 days.

First Majestic Silver Corporation [AG]: Deeper insight into the 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.

Earnings analysis for First Majestic Silver Corporation [AG]

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%.

Insider trade positions for First Majestic Silver Corporation [AG]

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%.