First Majestic Silver Corp (AG) Releases Earnings Results, Beats Expectations By $0.06 EPS

First Majestic Silver Corp (AG) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $0.03 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $-0.03. The company posted revenue of $66.50 million in the period. The company’s revenue was up 21.8% compared to the same quarter last year.

Many Wall Street Analysts have commented on First Majestic Silver Corp. First Majestic Silver Corp was Downgraded by Raymond James to ” Underperform” on Apr 20, 2016. First Majestic Silver Corp was Downgraded by Desjardins to ” Sell” on Mar 31, 2016. Rodman & Renshaw Initiated First Majestic Silver Corp on Feb 29, 2016 to “Buy”, Price Target of the shares are set at $6.

First Majestic Silver Corp opened for trading at $10 and hit $10.51 on the upside on Friday, eventually ending the session at $10.36, with a gain of 5.61% or 0.55 points. The heightened volatility saw the trading volume jump to 67,11,787 shares. Company has a market cap of $1,612 M.

First Majestic Silver Corp is engaged in the business of silver production development exploration and acquisition of mineral properties with a focus on silver production in Mexico. The Company has eight segments including five operating segments located in Mexico one development project in Mexico one retail market segment in Canada and one silver trading segment in Europe. Corporate and eliminations consists primarily of the Company’s other exploration properties. All of the Company’s operations are within the mining industry and its products are silver dore silver?lead and silver?zinc concentrates. Its mine and properties include La Encantada Silver Mine La Parrilla Silver Mine Del Toro Silver Mine San Martin Silver Mine La Guitarra Silver Mine La Luz Silver Project Plomosas Silver Project and Jalisco Group of Properties. It other properties include the Penasco Quemado Silver Project the La Frazada Silver Project and the Los Lobos Silver Project in the State of Sonora.

First Majestic Silver Corp

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