Q3 2018 EPS Estimates for First Majestic Silver Corp. Lowered by Cormark (AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Analysts at Cormark decreased their Q3 2018 EPS estimates for shares of First Majestic Silver in a research note issued to investors on Tuesday, October 16th. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of ($0.04) for the quarter, down from their prior forecast of ($0.01). Cormark also issued estimates for First Majestic Silver’s FY2018 earnings at ($0.17) EPS and FY2020 earnings at $0.28 EPS.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Monday, August 13th. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $79.70 million for the quarter, compared to the consensus estimate of $111.49 million. First Majestic Silver had a negative return on equity of 4.40% and a negative net margin of 39.42%. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS.

A number of other research firms have also recently weighed in on AG. Zacks Investment Research raised shares of First Majestic Silver from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research note on Tuesday, July 10th. ValuEngine raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. HC Wainwright reduced their price objective on shares of First Majestic Silver from $11.50 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, July 17th. Roth Capital set a $8.00 price objective on shares of First Majestic Silver and gave the stock a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $8.75.

NYSE AG opened at $6.25 on Thursday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -156.25 and a beta of 0.08. First Majestic Silver has a fifty-two week low of $4.93 and a fifty-two week high of $8.48. The company has a current ratio of 3.20, a quick ratio of 2.74 and a debt-to-equity ratio of 0.20.

Several institutional investors have recently modified their holdings of the stock. Global X Management Co LLC grew its stake in shares of First Majestic Silver by 5.3% in the second quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock worth $18,765,000 after purchasing an additional 123,287 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of First Majestic Silver by 235.2% in the second quarter. Tower Research Capital LLC TRC now owns 20,171 shares of the mining company’s stock worth $154,000 after purchasing an additional 14,154 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of First Majestic Silver in the second quarter worth $1,920,000. Van ECK Associates Corp grew its stake in shares of First Majestic Silver by 17.0% in the second quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock worth $182,461,000 after purchasing an additional 3,471,408 shares during the last quarter. Finally, AGF Investments Inc. bought a new stake in shares of First Majestic Silver in the second quarter worth $239,000. 25.85% of the stock is currently owned by institutional investors.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Earnings History and Estimates for First Majestic Silver (NYSE:AG)

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