First Majestic Silver Corp. (NYSE:AG) Stock Technical Outlook: What Are The Charts Saying?

Taking into account all relevant factors, First Majestic Silver Corp. (NYSE:AG) scores 80% Buy on the technical side. The share price is also flashing a Hold from the Barchart TrendSpotter trading system. Investors starting out on a short-term path of investing should know that short terms indicators for AG averaged 50% Buy with an average daily trading volume over the past 20 days at 4859846 shares. Those using medium-term investment strategies, the shares have overall a 1% Buy signal while the 50-day average daily volume remained almost 4386762 shares. It’s also important to note that the stock, whose average daily volume over the 100 days as of this piece was 4481951 shares, is signaling100% Buy for long term investors.

The stock is lingering around the initial support level of $10.79. After this, the following support is at the zone of $10.51. Up until the time the AG stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 46.85 on the daily chart, and this may be a cause for concern. In case the price goes below $10.51 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $11.25 level may cause a pull-back move approaching $11.43 mark.

First Majestic Silver Corp. (AG) is most likely going to rise -12.96 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $15 as 12-month high price target. This represents a whopping 36.86 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $11.99, which means a return possibility of 9.4 percent in comparison with the closing price of the stock of $10.96 in recent trading session. The lowest price set for the stock is $7.5 which is just above -31.57 percent from AG share’s price at the end of session.

Let’s take a glimpse at some insider activity at First Majestic Silver Corp. (NYSE:AG) and observe the pattern. The earliest insider trade happened on 05/14/2019. PIPER VINITA LEE gathered a total of 22.06 thousand shares of the firm at average share price of $5.93. The total amount for the purchase was set at $130.79 thousand. On completing this exchange, the 10% Owner account balance was 22.06 thousand shares. The stock grew 85.5 percent from that insider purchase. On 08/02/2006, BALL GARRY, Sr. VP – Engineering, did a sale of 10.7 thousand shares at a price of $24.11 per share. This got rid of 257.98 thousand shares from the insider’s fortune and the stock experienced a -54.38 percent retreat in price since the news became public. This exchange saw 17.89 thousand shares get out from the Sr. VP – Engineering account. On 05/08/2006, Sr VP Mfg. & Quality WW LUKACS FRANK C recorded a sale transaction valued at $6.53 thousand. The sale at $28.26 a share has eliminated 0.23 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed -61.08 percent decrease since the transaction reporting date. The company insider is left with 2.19 thousand shares remaining in the account. SCHAIBLE DEXTER E, who works as SVP, WW Product Development at the company, performed a sale of 20 thousand shares in a transaction worth $543.6 thousand. The disposal recorded on 05/05/2006 was priced at $27.18 per share. The stock price plunged -59.53 percent since the transaction. SCHAIBLE DEXTER E currently holds a stake of 80.32 thousand in AG stock which is worth $880.35 thousand after the insider selling.

In the recent trading session, First Majestic Silver Corp. (NYSE:AG) shares lost -0.9% or -0.1 points to reach at $10.96 with a thin trading volume of 1.078 million shares. It opened the trading session at $11.04, the shares rose to $11.1588 and dropped to $10.7, the range by which the price of stock traded the whole session. The company now has a market cap of $2.26 billion and currently has 204.79 million outstanding shares. First Majestic Silver Corp. (AG) stock has plunged -1.51 percent of market value in 21 trading days.

Stock analysts at B. Riley FBR, assumed coverage of shares of First Majestic Silver Corp. (NYSE:AG) with Neutral recommendation, according to their opinion released on March 01. TD Securities analysts bumped their recommendation on AG stock from prior rating of Hold to Buy in a separate flash note to investors on May 15.

AG stock’s trailing 3-year beta is 0, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.83 share in the trailing 52 weeks. The stock’s value fallen -9.79 percent year to date (YTD) compared to a rise of 105.58 percent in 52 week’s period. The firm’s shares are still trading -13.63 percent below its 1-year high of $12.69 and 118.76 percent up from 52-week low of $5.01. The average consensus ranking on the company is 2.3, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.

Past records have indicated that shares in First Majestic Silver Corp. rose on 10 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of AG’s Q4 earnings on February 26. Analysts are predicting revenue to suffer decline of -0.3 percent to $66M in the financial fourth quarter, while EPS will soar by about 100 percent to -$0.02 per share. In the last quarter, it’s earnings of -$0.02 per share came better than the -$0.022, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $74.06M. Earnings are seen to rise by -100 percent this year, 0 percent in the coming year and the trend continues by 46.8 percent every year in the next 5 years.