Q3 2018 EPS Estimates for First Majestic Silver Corp. Lowered by Cormark (FR)

First Majestic Silver Corp. (TSE:FR) (NYSE:AG) – Equities researchers at Cormark lowered their Q3 2018 earnings estimates for shares of First Majestic Silver in a research note issued on Tuesday, October 16th. Cormark analyst R. Gray now anticipates that the mining company will earn ($0.05) per share for the quarter, down from their prior forecast of ($0.01). Cormark has a “C$9.03” rating and a $13.00 price objective on the stock. Cormark also issued estimates for First Majestic Silver’s FY2018 earnings at ($0.22) EPS and FY2020 earnings at $0.36 EPS.

First Majestic Silver (TSE:FR) (NYSE:AG) last posted its quarterly earnings results on Monday, August 13th. The mining company reported C($0.09) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.07). First Majestic Silver had a negative return on equity of 36.93% and a negative net margin of 91.69%. The firm had revenue of C$102.85 million for the quarter, compared to analyst estimates of C$112.58 million.

Other analysts also recently issued research reports about the stock. National Bank Financial boosted their price objective on shares of First Majestic Silver from C$9.75 to C$11.50 in a research report on Saturday, July 14th. BMO Capital Markets reduced their price objective on shares of First Majestic Silver from C$9.25 to C$8.75 and set a “market perform” rating for the company in a research report on Tuesday, August 14th. Finally, TD Securities reduced their price objective on shares of First Majestic Silver from C$13.00 to C$12.50 and set a “buy” rating for the company in a research report on Tuesday, August 14th. Four analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of C$11.13.

TSE FR opened at C$8.10 on Thursday. First Majestic Silver has a 52 week low of C$6.24 and a 52 week high of C$11.09.

In other First Majestic Silver news, insider Todd Olson Anthony purchased 5,000 shares of First Majestic Silver stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average price of C$6.75 per share, for a total transaction of C$33,750.00. Also, Director Rose Marjorie Co purchased 5,926 shares of First Majestic Silver stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average price of C$6.75 per share, with a total value of C$40,000.50. In the last 90 days, insiders have bought 27,177 shares of company stock valued at $202,950 and have sold 45,000 shares valued at $358,880.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Earnings History and Estimates for First Majestic Silver (TSE:FR)

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