First Majestic Silver Corp. (NYSE: AG) is doing quite well. It is probably quite inspiring for all the shareholders that chose it. Analysts have delivered an impressive upgrade to their statutory estimates, which speaks rather positively about the company.
A close analysis
There has been a significant rise in the statutory consensus numbers, both in earnings and revenues per share. Thus, all the analysts’ views seem to take the bullish side of affairs in describing the state of affairs at First Majestic Silver Corp. They believe that it is well-positioned in terms of its business prospects and that the shareholders stand to gain in the long run.
The upgrade is a start to better things to come, according to analysts speaking about the current consensus that points to target revenues of US$637m in 2021. Hitting such a mark of progress is rather impressive and inspiring. There has been a substantial increase in sales that rose to 68% over the past 12 months.
Analysts project an increase in the statutory earnings per share that hit the 25% mark to settle at US$0.20 within the same period. It was a short while back that reports came out showing analysts modeling earnings per share (EPS) of US$0.13 and revenues of US$488m in 2021.
The one thing coming to the limelight pretty clearly is how there continues to be an increase in analyst sentiment in recent times. The latest estimates show a decent lift in earnings and revenues, which is good news for the shareholders.
The bottom line
There is always something to take from any analysis, and the same applies to this upgrade. The one thing that stands out is how analysts upgraded their estimates in earnings per share this year. The other thing they agree upon
is the high expectation of improved business conditions. As a result, their projections point to sales that will grow faster than the broader market.