First Majestic Silver Corporation [AG] Revenue clocked in at $573.80 million, up 1.14% YTD: What’s Next?

First Majestic Silver Corporation [NYSE: AG] price surged by 5.78 percent to reach at $0.34. The company report on April 1, 2024 at 4:30 PM that First Majestic Announces 2023 Mineral Reserve and Mineral Resource Estimates.

Vancouver, British Columbia–(Newsfile Corp. – April 1, 2024) – First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (the “Company” or “First Majestic”) is pleased to announce the 2023 Mineral Reserve and Mineral Resource estimates for its four material mineral properties with an effective date of December 31, 2023. 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, is currently in temporary suspension in respect of mining activities, with the Company currently focused on exploration, definition, and expansion of the mineral resources, and the optimization of mine planning and plant operations.

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During 2023, the Company completed a total of 143,454 metres of exploration drilling. Approximately 85% of this drilling was focused on near-mine or brownfield targets while the remainder was focused on greenfield targets exploring for new discoveries. In 2023, the Company’s Measured and Indicated and Inferred Mineral Resource estimates remained relatively unchanged in contained silver equivalent (“AgEq”) ounces; exploration results also successfully offset of Reserve depletion following record annual production of 9.6 million AgEq ounces.

The one-year AG stock forecast points to a potential downside of -8.17. The average equity rating for AG stock is currently 2.67, trading closer to a bullish pattern in the stock market.

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 $5.75 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 0.28, with the Price to Sales ratio for AG stock in the period of the last 12 months amounting to 3.11. The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 0.65.

AG Stock Performance Analysis:

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 16.26. With this latest performance, AG shares gained by 38.53% in over the last four-week period, additionally plugging by 22.68% over the last 6 months – not to mention a drop of -9.46% 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 70.53, with the RSI for the last a single of trading hit 75.33, and the three-weeks RSI is set at 66.28 for First Majestic Silver Corporation [AG]. The present Moving Average for the last 50 days of trading for this stock 4.95, while it was recorded at 5.65 for the last single week of trading, and 5.49 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 2.04 and a Current Ratio set at 2.57.

AG Stock EPS

With the latest financial reports released by the company, First Majestic Silver Corporation posted 0/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. 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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AG stock with ownership which is approximately 5.8386%.