First Majestic Silver (TSE:AG) Stock Price Down 9.1% – Here’s Why

First Majestic Silver Corp. (TSE:AG) shares were down 9.1% during mid-day trading on Thursday . The stock traded as low as C$29.29 and last traded at C$29.39. Approximately 1,792,179 shares were traded during trading, a decline of 29% from the average daily volume of 2,537,686 shares. The stock had previously closed at C$32.34.

Analyst Ratings Changes

AG has been the topic of a number of recent research reports. TD Securities boosted their price target on shares of First Majestic Silver from C$22.00 to C$36.00 in a research report on Thursday, January 22nd. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$30.60.

First Majestic Silver Trading Down 9.1%

The firm’s fifty day simple moving average is C$26.84 and its two-hundred day simple moving average is C$19.51. The company has a market capitalization of C$14.40 billion, a price-to-earnings ratio of 209.93 and a beta of 2.10.

First Majestic Silver (TSE:AG) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.06 EPS for the quarter. The firm had revenue of C$396.93 million for the quarter. First Majestic Silver had a negative net margin of 14.81% and a negative return on equity of 5.74%. As a group, analysts forecast that First Majestic Silver Corp. will post 0.4623323 EPS for the current fiscal year.

First Majestic Silver Company Profile

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.