First Majestic Silver Corp. (NYSE: AG) stock fell -2.94% on Wednesday to $5.95 against a previous-day closing price of $6.13. With 4.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 7.15 million shares. During the session, the Silver company that operates in wider Basic Materials sector, reached to the highest price of $6.13 whereas the lowest price it dropped to was $5.94. The 52-week range on AG shows that it touched its highest point at $9.81 and its lowest point at $5.53 during that stretch. It currently has a 1-year price target of $9.34.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AG was down-trending over the past week, with a drop of -5.25%, but this was down by -15.60% over a month. Three-month performance dropped to -12.50% while six-month performance fell -34.76%. The stock lost -27.88% in the past year, while it has lost -28.66% so far this year. A look at the trailing 12-month EPS for AG yields -0.81 with Next year EPS estimates of 0.54. EPS is expected to grow by 46.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -33.08%.
Float and Shares Shorts:
At present, 274.49 million AG shares are outstanding with a float of 271.98 million shares on hand for trading. On Apr 27, 2023, short shares totaled 14.88 million, which was 5.42% higher than short shares on Mar 30, 2023. In addition to Mr. Keith N. Neumeyer as the firm’s Founder, Pres, CEO & Director, Mr. David Soares C.A., CPA, M.B.A. serves as its Chief Financial Officer.
Through their ownership of 36.52% of AG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.30% of AG, in contrast to 29.01% held by mutual funds. Shares owned by individuals account for 0.05%. As the largest shareholder in AG with 10.75% of the stake, Van Eck Associates Corp. holds 29,511,019 shares worth 29,511,019. A second-largest stockholder of AG, ETF Managers Group LLC, holds 12,902,606 shares, controlling over 4.70% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AG, holding 5,743,587 shares or 2.09% stake. With a 5.48% stake in AG, the VanEck Gold Miners ETF is the largest stakeholder. A total of 15,039,144 shares are owned by the mutual fund manager. The ETFMG Prime Junior Silver ETF, which owns about 4.86% of AG stock, is the second-largest Mutual Fund holder. It holds 13,337,643 shares valued at 94.16 million. VanEck Junior Gold Miners ETF holds 4.17% of the stake in AG, owning 11,449,146 shares worth 80.83 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AG reported revenue of $160.10M and operating income of -$4.69M. The EBITDA in the recently reported quarter was $29.62M and diluted EPS was -$0.32.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.