First Majestic Silver (TSE:AG) Trading Down 12.6% – Here’s What Happened

First Majestic Silver Corp. (TSE:AG)’s stock price was down 12.6% during trading on Tuesday . The company traded as low as C$37.76 and last traded at C$37.76. Approximately 315,508 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,402,375 shares. The stock had previously closed at C$43.19.

Analyst Ratings Changes

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

First Majestic Silver Stock Performance

The stock’s 50-day moving average price is C$31.01 and its 200-day moving average price is C$22.07. The company has a market capitalization of C$19.26 billion, a price-to-earnings ratio of 114.88 and a beta of 2.10.

First Majestic Silver (TSE:AG) last released its quarterly earnings data on Thursday, February 19th. The company reported C$0.41 earnings per share for the quarter. The firm had revenue of C$621.00 million during the quarter. First Majestic Silver had a return on equity of 6.49% and a net margin of 13.14%. Analysts anticipate that First Majestic Silver Corp. will post 0.4623323 earnings per share for the current year.

About First Majestic Silver

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.