First Majestic Silver Corp. (AG) saw a big move last session, as the company’s shares fell more than 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for AG, as the stock is now up more than 9% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
Some better-ranked stocks in the Basic materials sector include Endeavour Silver Corp. (EXK), Fortuna Silver Mines Inc. (FSM) and MAG Silver Corp. (MVG). All these stocks carry a Zacks Rank #2 (Buy).
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FIRST MAJESTIC SILVER CORP (AG): Free Stock Analysis Report
ENDEAVOUR SILVER CORP (EXK): Free Stock Analysis Report
FORTUNA SILVER MINES INC (FSM): Free Stock Analysis Report
MAG SILVER CORP (MVG): Free Stock Analysis Report
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