First Majestic Silver Corp. (NYSE: AG): Stock That Needs Special Handling


The Vanguard Group, Inc. recently announced the acquisition of new stake in First Majestic Silver Corp. (NYSE:AG). The institutional investor has increased its shareholding in the Basic Materials company by 3.71% to 4.78 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 2.28% valued currently at $63.68 million. In addition, Arrowstreet Capital LP raised its holdings by 3.12 million to 4.18 million shares.

With over 4.79 million First Majestic Silver Corp. (AG) shares trading Tuesday and a closing price of $11.33 on the day, the dollar volume was approximately $54.32 million. The shares have shown a negative weekly performance of -5.50% and its price on 08/25/20 lost nearly -0.26%. Currently, there are 214.43M common shares owned by the public and among those 189.16M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for AG have a consensus price objective of $13.92. The analysts have set the share’s price value over the next 12 months at a high of $16.50 and a low of $9.25 should the stock experience a downside. Incidentally, analysts’ outlook for the First Majestic Silver Corp. stock is 2.30 for the next 12 months. The average price target is -18.76% below its last price level and a downside to the estimated low will see the stock lose -22.49% over that period. But an upside of 31.33% will see the stock hit the forecast high price target while mean target price for the stock is $14.57.

Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in First Majestic Silver Corp. are VanEck Vectors – Gold Miners ETF, VanEck Vectors – Junior Gold Mine, and Global X Silver Miners ETF. VanEck Vectors – Gold Miners ETF owns 11.31 million shares of the company’s stock, all valued at over $150.76 million. The company bought an additional 34346.0 shares recently to bring their total holdings to about 5.39% of the shares outstanding. VanEck Vectors – Junior Gold Mine bought 0.11 million shares to see its total holdings expand to 8.02 million shares valued at over $106.91 million and representing 3.83% of the shares outstanding. Global X Silver Miners ETF bought 56064.0 shares to bring its total holdings to over 4.18 million shares at a value of $55.67 million. Global X Silver Miners ETF now owns shares totaling to 1.99% of the shares outstanding.

Shares of First Majestic Silver Corp. (NYSE: AG) opened at $11.32, down -$0.04 from a prior closing price of $11.36. However, the script later closed the day at $11.33, down -0.26%. The company’s stock has a 5-day price change of -5.50% and 19.64% over the past three months. AG shares are trading -7.59% year to date (YTD), with the 12-month market performance up to 3.47% higher. It has a 12-month low price of $4.17 and touched a high of $14.57 over the same period. Currently, 4.79 million shares have been traded, compared to an average intraday trading volume of 7.02 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.76%, 1.01%, and 16.60% respectively.

Institutional ownership of First Majestic Silver Corp. (NYSE: AG) shares accounts for 35.41% of the company’s 214.43M shares outstanding. Mutual fund holders own 25.29%, while other institutional holders and individual stakeholders account for 9.26% and 0.06% respectively.

It has a market capitalization of $2.43B. The earnings-per-share (ttm) stands at -$0.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.87% over the week and 5.02% over the month.

Analysts forecast that First Majestic Silver Corp. (AG) will achieve an EPS of -$0.02 for the current quarter, $0.01 for the next quarter and $0.06 for 2018. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 250.00%, and 16.70% over the next financial year. EPS should grow at an annualized rate of 46.80% over the next five years, compared to -31.03% over the past 5-year period.

Looking at the support for the AG, a number of firms have released research notes about the stock. TD Securities stated their Hold rating for the stock in a research note on July 24, 2020, with the firm’s price target at. B. Riley FBR coverage for the First Majestic Silver Corp. (AG) stock in a research note released on March 01, 2019 offered a Neutral rating with a price target of $6. TD Securities was of a view on May 15, 2018 that the stock is Buy, while BMO Capital Markets gave the stock Market Perform rating on May 14, 2018, issuing a price target of. ROTH Capital on their part issued Buy rating on April 25, 2018.


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