First Majestic Silver Corp. (NYSE:AG) finished Wednesday with an addition of $0.12 to close at $6.06, an upside of 2.02 percent. An average of 3,988,320 shares of common stock have been traded in the last five days. There was a gain of $0.27 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 4,521,210 shares traded, while the 50-day average volume stands at 4,476,694.
AG stock has decreased by -9.55% in the last month. The company shares reached their 1-month lowest point of $5.76 on 08/18/23. With the stock rallying to its 52-week high on 01/12/23, shares of the company touched a low of $5.24 and a high of $9.81 in 52 weeks. It has reached a new high 5 times so far this year and lost -27.34% or -$2.28 in price. In spite of this, the price is down -38.23% from the 52-week high.
The company’s most recent quarterly dividend payment was $0.0050 a share, representing a down of -16.67% from $0.0060 last year. Its latest decrease dividend $0.0010 reported on Thursday August 3 2023.
Financial Health
First Majestic Silver Corp.’s EBITDA margin for the year ending June 29 is 14.72%. Its gross profit as reported stood at $152.53 million compared to revenue of $624.22 million.
Earnings Surprise
For the three-month period that ended June 29, First Majestic Silver Corp. had $4.68 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$40.47 million in the quarter, while revenues were shrunk -404.47%. The analyst consensus anticipated First Majestic Silver Corp.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.02, a 33.30% surprise. For the quarter, EBITDA amounted to $14.13 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at First Majestic Silver Corp. (AG) price momentum. RSI 9-day as of the close on 23 August was 50.71%, suggesting the stock is Neutral, with historical volatility in this time frame at 42.98%.
As of today, AG’s price is $5.92 +4.66% or $0.27 from its 5-day moving average. AG is currently trading -10.62% lower than its 20-day SMA and -15.95% lower than its 100-day SMA. However, the stock’s current price level is +6.32% above the SMA50 and -25.00% below the SMA200.
The stochastic %K and %D were 32.81% and 22.65%, respectively, and the average true range (ATR) was 0.22. With the 14-day stochastic at 48.03% and the average true range at 0.22, the RSI (14) stands at 49.24%. The stock has reached -0.02 on the 9-day MACD Oscillator while the 14-day reading was at -0.03.
Analyst Ratings
TD Securities upgraded First Majestic Silver Corp. (NYSE: AG) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for First Majestic Silver Corp. (AG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell AG, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 1 others rate it as a “buy”.
What is AG’s price target for the next 12 months?
Analysts predict a range of price targets between $7.00 and $12.00, with a median target of $8.35. Taking a look at these predictions, the average price target given by analysts for First Majestic Silver Corp. (AG) stock is $9.02.
