First Majestic Silver (TSE:AG) Shares Down 9.1% – Time to Sell?

First Majestic Silver Corp. (TSE:AG)’s share price fell 9.1% during trading on Thursday . The stock traded as low as C$29.29 and last traded at C$29.39. 1,792,179 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 2,537,686 shares. The stock had previously closed at C$32.34.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TD Securities boosted their target price on shares of First Majestic Silver from C$22.00 to C$36.00 in a research note on Thursday, January 22nd. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$30.60.

First Majestic Silver Stock Down 9.1%

The firm has a market cap of C$14.40 billion, a price-to-earnings ratio of 209.93 and a beta of 2.10. The company’s 50-day moving average price is C$26.84 and its 200-day moving average price is C$19.51.

First Majestic Silver (TSE:AG) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.06 earnings per share for the quarter. First Majestic Silver had a negative net margin of 14.81% and a negative return on equity of 5.74%. The firm had revenue of C$396.93 million for the quarter. Analysts predict that First Majestic Silver Corp. will post 0.4623323 earnings per share for the current fiscal year.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.