Shares of First Majestic Silver Crash After Earnings Report
Shares of precious metals miner First Majestic Silver (NYSE: AG) are down 14.8% as of 12:00 p.m. EDT today. The force driving today's decline was the company's second-quarter earnings report that didn't live up to expectations.
According to analyst estimates, First Majestic's earnings were going to come in at an adjusted net profit of $0.01 per share. After stripping out some one-time gains, though, First Majestic posted an adjusted $0.02 per share loss.
To make matters worse, total silver equivalent ounces produced and revenues declined, while cash and all-in sustaining costs increased. All of these elements led to weaker cash flows for the quarter, which forced management to cut its capital spending guidance to $17.5 million for the year.
Source: Fool.com
First Majestic Silver Corp. Stock
Our community is currently high on First Majestic Silver Corp. with 5 Buy predictions and 0 Sell predictions.
As a result the target price of 7 € shows a positive potential of 29.92% compared to the current price of 5.39 € for First Majestic Silver Corp..
