Zacks Cuts First Majestic Silver to Strong Sell
Zacks Research cut First Majestic Silver to strong sell from hold. The silver producer's most recent quarter missed profit and revenue estimates, though sales rose 57.3% from a year earlier. Shares opened at $15.97, and the broader analyst consensus remained hold with a $24 average target.
Zacks moved First Majestic Silver to “strong sell” from “hold” on Monday. Other recent calls were mixed: ATB Cormark upgraded it to “moderate buy,” Wall Street Zen cut it to “hold,” and HC Wainwright and Scotiabank lowered price targets while keeping “buy” and “sector perform.” Among seven ratings, four are Buy, two Hold, one Sell; the consensus is Hold with a $24 target.
The stock opened at $15.97, under both its 50-day ($19.00) and 200-day ($18.86) averages, within a 52-week range of $10.19–$32.03. Its market value was $7.88 billion, with a PE of 17.95 and beta of 0.97. Quarterly EPS was $0.21 versus $0.25 expected; revenue was $415.5 million versus $496.0 million expected but up 57.3% year over year.
The downgrade could affect retail and institutional investors holding First Majestic shares, potentially influencing trading and portfolio decisions. Employees and communities tied to its mining operations may feel indirect effects if market sentiment affects capital access or project planning. Because silver is used in electronics and industrial applications, shifts in producer outlook may also draw attention from supply-chain watchers, though one analyst call alone is unlikely to change broader market conditions.