United

Silver

Million

Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NYSE: AG stock lost more than 7.15% of its trading price in the weekly time.&nbsp;</a> </li> 
 <li> <span>2</span> <a>First Majestic obtained around CDN$27.0 Million or US$20.0 Million worth of common shares of Golden Tag in exchange for its mine.&nbsp;</a> </li> 
</ul> 
<p>NYSE: AG stock lost more than 7.15% of its trading price in weekly time. On August 18, it opened at $5.81, lowering to $5.76, it hit a high of $5.89 and closed at $5.85 with an intraday trading volume of 3.12 Million.&nbsp;</p> 
<p>In the 52 weeks time frame, AG stock’s highest traded price was $9.81 and its lowest traded price was $5.24. In the monthly time frame, the price slipped over 15% and lost 24.61% of its trading value in the yearly time frame.&nbsp;</p> 
<p>At press time, AG share price was 54% below its annual price target of $9.02. First Majestic Silver Corp has a market capitalization of $1.679 Billion and its share average trading volume is 4.035 Million.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-ag-stock-news-updates-strong"><strong>AG Stock News Updates</strong></h2> 
<p>First Majestic Silver Corp. informed that the deal to sell its La Parrilla Silver Mine to Golden Tag Resources Ltd had been approved.&nbsp;</p> 
<p>As part of the deal, First Majestic obtained around CDN$27.0 Million or US$20.0 Million worth of common shares of Golden Tag. Additionally, First Majestic will receive up to US$13.5 Million in milestone payments.</p> 
<h2 class="wp-block-heading" id="strong-ag-stock-price-analysis-strong"><strong>AG Stock Price Analysis&nbsp;</strong></h2> 
<p>On the August 18 trading session, major buyer dominance was seen but no severe moment in trading price was seen. Sellers showed their keen interest on August 14 dragging AG stock price downwards.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/LE3C8V_g4Hi_N4SgusWIiaXbECJy7LesjrONfFr2vH-Le_Hfol-1_LYdZ3lJLwAa9qraiVk7h0AM4k8WrDEYxd1uM5Mv_Ni9cDkGNfHawpfZL-mJRwlRNiD7diRRtFjMuGBwgcDD-VtiYX4IimLESQ" alt=""> 
  <figcaption class="wp-element-caption">
    Source: AG stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>Technical analysis shows that before August 14, AG stock price was above $6. But constant selling pressure dragged the stock price downwards to $5.</p> 
<p>If buyers continued their dominance over sellers in the coming session, then there are possibilities that AG share price might face immediate resistance of $6.13 and possibly next resistance of $6.85. Since August 16, the stock was consolidating in between $6 to $5.74.&nbsp;</p> 
<p>Per analysts, if the sellers dominate, AG share price might fall further and could face the upcoming support of $5.36 followed by $5. At press time, First Majestic Silver Corp share was trading below the 50 day and 200 day exponential moving averages.</p> 
<p>According to TradingView 279.85 Million First Majestic Silver Corp shares are free floating and the remaining 7.078 Million shares are closely held either by financial backers of the company or the board of directors.</p> 
<h3 class="wp-block-heading" id="strong-first-majestic-silver-corp-earnings-revenue-strong"><strong>First Majestic Silver Corp Earnings &amp; Revenue&nbsp;</strong></h3> 
<p>In Q1 &amp; Q2 2023, <a href="https://www.thecoinrepublic.com/2023/07/31/cvna-stock-skyrockets-after-reporting-positive-revenue-report/" target="_blank" rel="noopener noreferrer nofollow">First Majestic Silver Corp</a> impressed its investors by reporting more revenue than estimated figures. The company was expected to report $145.69 Million in Q1 2023, however it reported $156.95 Million. Similarly, in Q2 it was expected to report $133 Million but it reported $146.69 Million in revenue.&nbsp;</p> 
<p>The company was expected to report $126 Million in Q3 and $134 Million in Q4 2023. The earnings per share of First Majestic Silver Corp also surged in Q2 2023.&nbsp;</p> 
<p>The reported revenue in 2022, constituted 1% of gross profit, 15% of earnings before interest, taxes, depreciation, and amortization (EBITDA) , -8% of earnings before interest and taxes (EBIT) , and -18% of net income.&nbsp;</p> 
<p>First Majestic Silver Corp operates in Mexico, the United States among other countries.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<p>Support Levels: $5.36 and $5</p> 
<p>Resistance Levels: $6.13 and $6.85&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Since August 16, AG stock price has been consolidating in the range $6 to $5.74. <a href="https://www.thecoinrepublic.com/2023/07/31/cvna-stock-skyrockets-after-reporting-positive-revenue-report/" target="_blank" rel="noopener noreferrer nofollow">First Majestic Silver Corp</a> reported more revenue than estimated figures in both Q1 and Q2 2023. As per analysts, a trend reversal is possible in the coming sessions.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer&nbsp;</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

AG Stock Slipped Over 7% Weekly; Selling Silver Mine a Blunder?

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Thecoinrepublic.com

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