Equities Analysts Boost Earnings Estimates for First Majestic Silver Corp. (TSE:FR)

Equities Analysts Boost Earnings Estimates for First Majestic Silver Corp. (TSE:FR)

First Majestic Silver Corp. (TSE:FR) (NYSE:AG) – Analysts at B. Riley lifted their FY2019 EPS estimates for shares of First Majestic Silver in a report released on Monday, June 24th, according to Zacks Investment Research. B. Riley analyst A. Graf now expects that the mining company will post earnings per share of $0.04 for the year, up from their prior estimate of ($0.01). B. Riley also issued estimates for First Majestic Silver’s Q4 2019 earnings at $0.03 EPS and FY2021 earnings at $0.54 EPS.

A number of other brokerages have also issued reports on FR. National Bank Financial lowered shares of Detour Gold to a “hold” rating in a research report on Friday, June 28th. Cormark increased their price target on shares of OrganiGram from C$8.50 to C$10.50 and gave the stock a “speculative buy” rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of First Majestic Silver in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of C$9.75.

FR opened at C$10.63 on Wednesday. The stock has a market capitalization of $2.16 billion and a P/E ratio of -10.32. The stock’s 50 day simple moving average is C$9.10. The company has a current ratio of 3.25, a quick ratio of 2.70 and a debt-to-equity ratio of 25.16. First Majestic Silver has a 52-week low of C$6.12 and a 52-week high of C$10.78.

First Majestic Silver (TSE:FR) (NYSE:AG) last issued its earnings results on Thursday, May 9th. The mining company reported C($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.01 by C($0.02). The firm had revenue of C$115.42 million for the quarter, compared to analyst estimates of C$138.14 million.

In related news, Senior Officer Connie Lillico sold 25,000 shares of First Majestic Silver stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$10.15, for a total transaction of C$253,750.00. Following the transaction, the insider now owns 111,500 shares of the company’s stock, valued at C$1,131,725. Also, Director David Andrew Shaw sold 10,000 shares of First Majestic Silver stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$10.52, for a total value of C$105,200.00. Following the sale, the director now owns 40,000 shares in the company, valued at C$420,800. Over the last three months, insiders have sold 60,000 shares of company stock worth $569,300.

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 San Dimas Silver/Gold Mine covering an area of 71,867 hectares located in Durango; the Santa Elena Silver/Gold Mine covering an area of 101,772 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco, as well as 1,296 hectares of surface land; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; and Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas in Mexico.

Share:
Scroll Up