First Majestic Silver Corp. (AG) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for AG, as the stock is now down almost 31% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the silver mining company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
AG currently has a Zacks Rank #5 (Strong Sell).
Investors interested in the same sector may consider better-ranked stocks like United States Steel Corp. (X) and Minerals Technologies Inc. (MTX), each with a Zacks Rank #1 (Strong Buy) and MAG Silver Corp. (MVG), with a Zacks Rank #2 (Buy) each.
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