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 4.22 million First Majestic Silver Corporation (AG) shares trading Tuesday and a closing price of $5.46 on the day, the dollar volume was approximately $23.02 million. The shares have shown a negative half year performance of -6.19% and its price on 01/09/24 lost nearly -1.09%. Currently, there are 286.94M common shares owned by the public and among those 280.25M shares have been available to trade.
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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 $7.52. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $5.98. The average price target is 27.39% above its recent price level and an upside to the estimated low will see the stock gain 8.7% over that period. But an upside of 54.5% will see the stock hit the forecast high price target while median target price for the stock is $6.69.
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 $5.56, up $0.04 from a prior closing price of $5.52. The company’s stock has a 5-day price change of -8.70% and 4.40% over the past three months. AG shares are trading -11.22% year to date (YTD), with the 12-month market performance down to -38.93% 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 6.23 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 -8.91%, -2.48%, and -8.63% respectively.
Institutional ownership of First Majestic Silver Corporation (NYSE: AG) shares accounts for 33.54% of the company’s 286.94M shares outstanding. Mutual fund holders own 28.50%, while other institutional holders and individual stakeholders account for 5.13% and 0.05% respectively.
It has a market capitalization of $1.57B and a beta (3y monthly) value of 1.44. 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 3.52% over the week and 4.65% over the month.
Analysts forecast that First Majestic Silver Corporation (AG) will achieve an EPS of $CRISPR Therapeutics AG for the current quarter, $62.63 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $AGNC Investment Corp. while analysts give the company a high EPS estimate of $Procter & Gamble Company (The). Comparatively, EPS for the current quarter was $On Holding AG a year ago. Earnings per share for the fiscal year are expected to increase by 89.52%, and 1254.55% 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 2.67. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
