Wall Street analysts expect First Majestic Silver Corp. (NYSE:AG) (TSE:FR) to announce sales of $103.95 million for the current quarter, according to Zacks. Two analysts have provided estimates for First Majestic Silver’s earnings, with the highest sales estimate coming in at $113.99 million and the lowest estimate coming in at $93.90 million. First Majestic Silver posted sales of $86.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.8%. The company is expected to issue its next earnings report on Thursday, May 14th.
According to Zacks, analysts expect that First Majestic Silver will report full-year sales of $411.20 million for the current financial year, with estimates ranging from $380.60 million to $500.32 million. For the next financial year, analysts forecast that the company will post sales of $496.13 million, with estimates ranging from $450.50 million to $526.38 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow First Majestic Silver.
AG has been the topic of several research reports. Zacks Investment Research lowered First Majestic Silver from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 20th. HC Wainwright boosted their target price on shares of First Majestic Silver from $11.50 to $12.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. ValuEngine cut shares of First Majestic Silver from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Finally, B. Riley increased their target price on shares of First Majestic Silver from $6.40 to $7.40 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.47.
Several hedge funds and other institutional investors have recently made changes to their positions in AG. HighMark Wealth Management LLC bought a new position in First Majestic Silver during the 4th quarter worth $26,000. Advisory Services Network LLC grew its position in shares of First Majestic Silver by 2,903.2% during the fourth quarter. Advisory Services Network LLC now owns 5,706 shares of the mining company’s stock worth $70,000 after acquiring an additional 5,516 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of First Majestic Silver in the 4th quarter worth about $115,000. Signition LP acquired a new stake in shares of First Majestic Silver in the 4th quarter worth about $125,000. Finally, Bluefin Trading LLC bought a new stake in First Majestic Silver in the 3rd quarter valued at about $127,000. 31.83% of the stock is currently owned by institutional investors and hedge funds.
First Majestic Silver Company Profile
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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