6.30 +0.14 (2.27%)
Pre-Market: 7:32AM EDT
|Bid||6.28 x 21500|
|Ask||6.31 x 800|
|Day's Range||5.88 - 6.22|
|52 Week Range||4.93 - 8.48|
|Beta (3Y Monthly)||1.02|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Some primary silver producers are no doubt feeling pain these days after the sell-off in silver prices so far this year, but don't look for major supply cutbacks any time soon, analysts said. Further, companies have become leaner in recent years, thus some of the major producers - such as Pan American Silver Corp.
I am going to take a deep dive into First Majestic Silver Corp’s (TSE:FR) most recent ownership structure, not a frequent subject of discussion among individual investors. A company’s ownershipRead More...
First Majestic (AG) delivered earnings and revenue surprises of -250.00% and -8.08%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Vancouver, British Columbia-based company said it had a loss of 22 cents. Losses, adjusted for one-time gains and costs, were 7 cents per share. The results missed Wall Street ...
Forget the clouds. It's only been silver linings for this miner through the first half of the year.
Short interest is moderate for AG with between 5 and 10% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. ETFs that hold AG had net inflows of $1.86 billion over the last one-month.
Its stock price, analysts’ estimates, and its multiple took a severe hit after the Guatemalan government’s decision to suspend its Escobal mine license in July 2017. A favorable resolution to this mining issue could lead to a re-rating of the stock. Coeur Mining (CDE) and First Majestic Silver (AG) have the same forward multiples of 7.9x.
First Majestic Silver (AG) is one of the few silver miners (SIL) to have a double-digit return YTD (year-to-date). Most of this year’s returns for AG came in March when it surged 11%. The company announced that it expects its investments last year to generate double-digit growth in silver production in 2018.
Most of the precious metals and their mining companies have witnessed a choppy market in most of 2018, thanks to slumping metal prices. Precious metals are more closely associated with the downturn in these precious metals rather than the overall sentiment of the equity markets.
Investors need to pay close attention to First Majestic (AG) stock based on the movements in the options market lately.
With continuing downward sentiment in precious metals, it’s important to look at what large traders and hedge funds are doing with their positions in metals. This article focuses on silver, which is predominantly a precious metal and acts as a buffer along with gold during market unrest. Silver was trading at $16.4 per ounce as of 9:00 AM. The resistance level for silver is at a 50-day moving average of $16.55.
In this part of the series, we’ll look at the correlation between gold and four mining stocks: Alamos Gold (AGI), First Majestic Silver (AG), B2Gold (BTG), and Royal Gold (RGLD). Mining stocks generally move with gold prices. Among these four miners, Alamos Gold has shown the highest correlation with gold this year, while B2Gold has had the lowest correlation.
Miners are usually a leveraged play on metals, rising by a higher proportion when metal prices rise and falling harder when metal prices weaken. This trend hasn’t been visible lately as company-specific factors exerted more influence on stock prices. In 2018, the iShares Silver Funds ETF (SLV), which tracks spot silver prices, has fallen 2.8%.
Usually, precious metals mining companies follow precious metals. Precious metals seem to be in doldrums lately over the strength in the US dollar and the Federal Reserve’s decision to raise interest rates. The recent slump in demand for haven assets has also affected mining stocks.
Besides the rise and fall in the US dollar, another crucial factor affecting precious metals price changes is overall market volatility. Recently, when the United States withdrew from the Iran nuclear deal, the markets seemed to breathe a sigh of relief. Also, the geopolitical issues in the Korean Peninsula seem to have subsided. We also saw North Korea free three American detainees just ahead of talks between President Donald Trump and Kim Jong Un.