First Majestic Silver Corporation (NYSE: AG) stock fell -0.76% on Friday to $5.23 against a previous-day closing price of $5.27. With 4.85 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.35 million shares. During the session, the Silver company that operates in wider Basic Materials sector, reached to the highest price of $5.35 whereas the lowest price it dropped to was $5.13. The 52-week range on AG shows that it touched its highest point at $9.67 and its lowest point at $4.38 during that stretch. It currently has a 1-year price target of $7.68. With its current market cap of 1.50 billion, AG has annualized dividend of $0.03 while the current yield stands at 0.48%. Beta for the stock currently stands at 1.16.
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 up-trending over the past week, with a rise of 14.19%, but this was down by -7.92% over a month. Three-month performance dropped to -11.21% while six-month performance fell -15.65%. The stock lost -42.97% in the past year, while it has lost -37.29% so far this year. A look at the trailing 12-month EPS for AG yields -0.59 with Next year EPS estimates of 0.26. For the next quarter, that number is 0.01. This implies an EPS growth rate of 85.71% for this year and 962.47% for next year. 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 -6.30%.
Float and Shares Shorts:
At present, 286.94 million AG shares are outstanding with a float of 280.21 million shares on hand for trading. On Oct 30, 2023, short shares totaled 18.6 million, which was 6.05% higher than short shares on Sep 28, 2023. In addition to Mr. Keith N. Neumeyer as the firm’s Founder, President, CEO & Director, Mr. David Soares C.A., CPA, M.B.A. serves as its Chief Financial Officer.
Through their ownership of 35.99% of AG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.08% of AG, in contrast to 28.49% held by mutual funds. Shares owned by individuals account for 0.05%. As the largest shareholder in AG with 10.33% of the stake, Van Eck Associates Corp. holds 29,631,966 shares worth 29,631,966. A second-largest stockholder of AG, ETF Managers Group LLC, holds 12,902,606 shares, controlling over 4.50% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AG, holding 7,058,646 shares or 2.46% stake. With a 5.41% stake in AG, the VanEck Gold Miners ETF is the largest stakeholder. A total of 15,507,127 shares are owned by the mutual fund manager. The ETFMG Prime Junior Silver ETF, which owns about 4.21% of AG stock, is the second-largest Mutual Fund holder. It holds 12,087,550 shares valued at 62.25 million. VanEck Junior Gold Miners ETF holds 4.18% of the stake in AG, owning 11,977,958 shares worth 61.69 million.
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. With AG analysts setting a high price target of $12.00 and a low target of $5.80, the average target price over the next 12 months is $7.68. Based on these targets, AG could surge 129.45% to reach the target high and rise by 10.9% to reach the target low. Reaching the average price target will result in a growth of 46.85% from current levels.