First Majestic Silver (TSE:AG) Trading Down 4.8% – Time to Sell?

First Majestic Silver Corp. (TSE:AG) shares dropped 4.8% during mid-day trading on Wednesday . The company traded as low as C$21.84 and last traded at C$21.89. Approximately 1,705,269 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 2,026,928 shares. The stock had previously closed at C$23.00.

Analyst Upgrades and Downgrades

AG has been the subject of a number of analyst reports. BMO Capital Markets upgraded First Majestic Silver from a “hold” rating to an “outperform” rating and set a C$35.00 price target for the company in a research report on Tuesday, March 24th. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$33.40.

First Majestic Silver Price Performance

The firm has a market capitalization of C$12.18 billion, a P/E ratio of 41.81 and a beta of 2.66. The firm has a 50-day moving average price of C$28.04 and a two-hundred day moving average price of C$28.34.

First Majestic Silver (TSE:AG) last released its earnings results on Tuesday, May 12th. The company reported C$0.43 earnings per share for the quarter. First Majestic Silver had a return on equity of 10.82% and a net margin of 19.45%.The business had revenue of C$662.71 million during the quarter. Sell-side analysts predict that First Majestic Silver Corp. will post 0.4623323 earnings per share for the current fiscal year.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.