Brokers set expectations for First Majestic Silver Corp’s earnings in fiscal year 2022 (TSE:FR)
First Majestic Silver Corp. (TSE:FR – Get Rating) (NYSE:AG) – Equity analysts at Cormark lowered their earnings estimates for fiscal year 2022 for shares of First Majestic Silver in a research note published on Thursday, November 10. Cormark analyst R. Gray now expects the miner to earn ($0.17) per share for the year, less than its previous estimate of ($0.03). The consensus estimate for First Majestic Silver’s current full-year earnings is $0.29 per share.
FR has been the subject of a number of other research reports. TD Securities raised its target price on shares of First Majestic Silver to $12.00 from $11.00 and gave the company a “hold” rating in a research note on Thursday. BMO Capital Markets raised its price target on shares of First Majestic Silver from C$9.50 to C$10.25 in a research note on Friday, August 5. HC Wainwright reiterated a “buy” rating and price target of $12.50 on shares of First Majestic Silver in a research note on Thursday. Finally, National Bankshares increased its price target on shares of First Majestic Silver to C$13.00 from C$11.75 in a research report on Thursday, October 13.
First Majestic Silver is down 1.7%
TSE FR opened at CAD$12.55 on Monday. First Majestic Silver has a 12-month low of $8.12 and a 12-month high of $18.41. The company has a 50-day moving average of $10.93 and a 200-day moving average of $10.48. The company has a debt to equity ratio of 19.13, a current ratio of 1.88 and a quick ratio of 1.11. The company has a market cap of CA$3.33 billion and a P/E of 4,183.33.
Insider buying and selling
In other news from First Majestic Silver, Senior Officer Todd Olson Anthony sold 11,000 shares of the stock in a transaction that took place on Wednesday, November 9th. The shares sold at an average price of $12.78 for a total value of $140,580.00. Following the closing of the sale, the insider now owns 9,000 shares of the company, valued at $115,020. In other news from First Majestic Silver, Senior Officer Todd Olson Anthony sold 11,000 shares of the stock in a transaction that took place on Wednesday, November 9th. The shares sold at an average price of $12.78 for a total value of $140,580.00. Following the closing of the sale, the insider now owns 9,000 shares of the company, valued at $115,020. In addition, Director Rose Marjorie Co sold 2,344 shares of the stock in a transaction that took place on Monday October 24th. The shares were sold at an average price of $11.40 for a total transaction of $26,721.60. Upon completion of the sale, the Director now directly owns 14,121 shares of the Company, valued at approximately $160,979.40. During the most recent quarter, insiders purchased 25,000 shares of the company’s shares for $248,400 and sold 63,344 shares for $715,802.
First Majestic Silver announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 22 will receive a dividend of $0.008 per share. That equates to an annual dividend of $0.03 and a yield of 0.25%. The ex-dividend date of this dividend is Monday November 21st. First Majestic Silver’s Dividend Payout Ratio (DPR) is currently 830.00%.
About First Majestic Silver
First Majestic Silver Corp. is engaged in the acquisition, exploration, development and production of mineral properties focused on silver and gold production in North America. It holds 100% interest in the 71,868 hectare San Dimas silver/gold mine located in Durango and Sinaloa states; the 102,244 hectare Santa Elena silver/gold mine in Sonora; Jerritt Canyon Gold Mine, covering approximately 30,821 hectares in Elko County, Nevada; and the La Encantada Silver Mine covering 4,076 hectares in Coahuila and 1,343 hectares of surface land holdings.
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