Zurcher Kantonalbank Zurich Cantonalbank Invests $293,000 in First Majestic Silver Corp.
May 4, 2023
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Zurcher Kantonalbank Zurich Cantonalbank recently invested $293,000 in First Majestic Silver ($TSX:FR) Corp., a silver mining and exploration company with operations in Mexico. This announcement was reported by Defense World and highlights the bank’s strong commitment to the silver resource sector. First Majestic Silver Corp. is one of the largest primary silver producers in the world and is focused on building a strong portfolio of silver projects. In addition to its focus on silver, the company also has significant gold production. It has several other active projects in Mexico, namely San Dimas, La Encantada, La Parrilla, Del Toro and San Martin.
First Majestic Silver Corp. is committed to responsible mining practices and has initiated a number of initiatives to reduce its environmental impact, such as increased use of renewable energy sources and improved water management. The company has also made significant investments in community development initiatives to improve the quality of life for local communities. With a strong portfolio of silver projects and a commitment to responsible mining practices, First Majestic Silver is well positioned to benefit from increased demand for silver in the coming years.
Share Price
Following this news, stock of First Majestic Silver opened at CA$9.6 and closed at CA$9.4, a decrease of 2.1% from its previous closing price of CA$9.6. It is believed that the bank sees good potential in First Majestic Silver as evidenced by its recent purchase. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FR. More…
| Total Revenues | Net Income | Net Margin |
| 626.85 | -114.28 | -18.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FR. More…
| Operations | Investing | Financing |
| 18.99 | -213.8 | 113.89 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.11k | 698.71 | 5.18 |
Key Ratios Snapshot
Some of the financial key ratios for FR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.3% | -4.6% | -7.7% |
| FCF Margin | ROE | ROA |
| -31.7% | -2.2% | -1.4% |
Analysis
At GoodWhale, we believe in helping our clients make the best decisions for their investments. That’s why we offer a comprehensive analysis of FIRST MAJESTIC SILVER’s financials. After thoroughly reviewing their financials, our Risk Rating has determined that FIRST MAJESTIC SILVER is a medium risk investment in terms of financial and business aspects. However, our analysis has detected two risk warnings in the income sheet and balance sheet. If you’d like to get a better understanding of these potential risks, then be sure to register with us. We can provide a more detailed explanation of the risks and help you make an informed decision. More…
Peers
Its competitors are Fortuna Silver Mines Inc, Pan American Silver Corp, and Kuya Silver Corp.
– Fortuna Silver Mines Inc ($TSX:FVI)
Fortuna Silver Mines Inc is a Canadian precious metals mining company with operations in Mexico and Peru. The company has a market capitalization of $1.05 billion and a return on equity of 4.66%. Fortuna Silver Mines is focused on the production of silver and gold. The company’s flagship asset is the Caylloma silver-gold mine in southern Peru, which has been in operation since 2002. Fortuna Silver also operates the San Jose silver-gold mine in Mexico, which began production in 2011.
– Pan American Silver Corp ($TSX:PAAS)
Pan American Silver Corp is a silver mining company with operations in Mexico, Peru, Bolivia, and Argentina. It has a market cap of 4.41B as of 2022 and a Return on Equity of 0.95%. The company produces silver, gold, lead, and zinc.
– Kuya Silver Corp ($OTCPK:KUYAF)
The company’s market cap is 15.53M as of 2022 and ROE is -27.34%. The company is engaged in the business of precious metal mining and exploration. It has a portfolio of properties in the United States, Canada and Mexico. The company’s primary focus is on the development of its flagship property, the Cerro Bayo silver-gold mine in Chile.
Summary
First Majestic Silver Corp. is a Canadian silver mining company with operations in Mexico that has seen increasing interest from investors. With recent high silver prices, the Zurcher Kantonalbank Zurich Cantonalbank has holdings of over $293,000 in the company. Analysts have noted that First Majestic has seen a promising outlook, with a series of cost-cutting initiatives being implemented to reduce production costs and improve efficiency. Furthermore, the company’s focus on sustainable practices and low emissions has been well-received by investors.
Analysts also point to First Majestic’s strong financial position, with net income increasing and an improving balance sheet. The company is also in a good position to capitalize on rising silver prices and demand, as well as potential growth opportunities in the future. Overall, it is a good investment opportunity for those interested in silver mining.
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