What is Scotiabank’s Forecast for AG FY2024 Earnings?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Analysts at Scotiabank issued their FY2024 earnings estimates for shares of First Majestic Silver in a report issued on Wednesday, January 8th. Scotiabank analyst O. Habib expects that the mining company will post earnings per share of ($0.15) for the year. The consensus estimate for First Majestic Silver’s current full-year earnings is ($0.17) per share. Scotiabank also issued estimates for First Majestic Silver’s FY2025 earnings at $0.18 EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday.

First Majestic Silver Stock Performance

Shares of AG stock opened at $5.57 on Monday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -20.63 and a beta of 1.25. First Majestic Silver has a 1-year low of $4.17 and a 1-year high of $8.44. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $6.06 and its 200-day simple moving average is $6.10.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The firm had revenue of $146.09 million for the quarter.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.0048 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.34%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is currently -3.70%.

Hedge Funds Weigh In On First Majestic Silver

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in First Majestic Silver by 2.7% in the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after acquiring an additional 764,790 shares during the period. Marshall Wace LLP bought a new position in shares of First Majestic Silver in the second quarter worth about $3,904,000. Barclays PLC acquired a new position in shares of First Majestic Silver during the 3rd quarter worth about $2,419,000. Quantbot Technologies LP acquired a new stake in First Majestic Silver in the 3rd quarter valued at approximately $2,057,000. Finally, XTX Topco Ltd increased its position in First Majestic Silver by 1,510.1% in the 3rd quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock worth $1,630,000 after buying an additional 254,870 shares during the period. Institutional investors own 27.16% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.