Van Eck Associates Corp. recently announced the acquisition of new stake in First Majestic Silver Corporation (NYSE:AG). The institutional investor has increased its shareholding in the Basic Materials company by 3.78% to 29.63 million shares with purchase of 1.08 million shares. This fresh investment now brings its stake to 10.33% valued currently at $176.9 million. In addition, ETF Managers Group LLC raised its holdings by 12.9 million to 12.9 million shares. And The Vanguard Group, Inc. has lifted its position by 1.09% or 75871.0 shares – to 7.06 million shares.
With over 7.0 million First Majestic Silver Corporation (AG) shares trading Tuesday and a closing price of $5.98 on the day, the dollar volume was approximately $41.83 million. The shares have shown a positive half year performance of 3.46% and its price on 01/02/24 lost nearly -2.76%. Currently, there are 286.94M common shares owned by the public and among those 280.25M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for AG have a consensus price objective of $7.77. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $5.87. The average price target is 23.04% above its recent price level and a downside to the estimated low will see the stock lose -1.87% over that period. But an upside of 50.17% will see the stock hit the forecast high price target while median target price for the stock is $7.24.
The top 3 mutual fund holders in First Majestic Silver Corporation are VanEck Gold Miners ETF, ETFMG Prime Junior Silver ETF, and VanEck Junior Gold Miners ETF. VanEck Gold Miners ETF owns 16.27 million shares of the company’s stock, all valued at over $97.11 million. VanEck Junior Gold Miners ETF now owns shares totaling to 4.26% of the shares outstanding.
Shares of First Majestic Silver Corporation (NYSE: AG) opened at $6.13, down -$0.02 from a prior closing price of $6.15. However, the script later moved the day high at 6.19, down -2.76%. The company’s stock has a 5-day price change of -4.47% and 20.81% over the past three months. AG shares are trading -2.76% year to date (YTD), with the 12-month market performance down to -29.15% lower. It has a 12-month low price of $4.38 and touched a high of $9.07 over the same period. AG has an average intraday trading volume of 6.11 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 -1.79%, 7.05%, and -0.38% respectively.
Institutional ownership of First Majestic Silver Corporation (NYSE: AG) shares accounts for 33.56% of the company’s 286.94M shares outstanding. Mutual fund holders own 28.55%, while other institutional holders and individual stakeholders account for 5.14% and 0.05% respectively.
It has a market capitalization of $1.72B and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.59% over the week and 4.84% over the month.
Analysts forecast that First Majestic Silver Corporation (AG) will achieve an EPS of $0.01 for the current quarter, $0.09 for the next quarter and $0.32 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of $0.1. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 88.57%, and 1258.33% over the next financial year. EPS should grow at an annualized rate of 46.80% over the next five years, compared to -6.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate First Majestic Silver Corporation (AG) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
