Home / Market Movers / Lunch Break Update: First Majestic Silver Corp. (FR:CA) Drops 4.27% to Lead TSX Composite Materials Laggards on September 22

Lunch Break Update: First Majestic Silver Corp. (FR:CA) Drops 4.27% to Lead TSX Composite Materials Laggards on September 22

First Majestic Silver Corp. (FR:CA) is one of the weakest stocks in the materials sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of FR:CA have fallen 4.27% about halfway through the session to $15.9 after closing the day prior at $16.61. So far, the stock has traded as high as $17.05 and as low as $15.64 in morning action. Today’s decline has come with about 1.04 million shares changing hands, compared to an average 30-day volume of 1.3 million for First Majestic Silver Corp.. The price is currently below the 30-day volume weighted average price of $16.27 for FR:CA.

The share depreciation gives the materials company a market capitalization of $2.73 billion based upon 164.11 million shares outstanding. It also means that First Majestic J has a price-to-book ratio of 3.42:1 and a price-to-earnings ratio of :1.

In the past 52 weeks, shares of FR:CA have traded as low as $3.5 and as high as $24.96. Technical traders will take note that at $15.9, shares of FR:CA are trading above their 200-day MA at $12.02 and below their 50-day MA at $19.57. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.

Who is First Majestic J?

First Majestic Silver Corp is engaged in the production, development, exploration, & acquisition of mineral properties. Its projects include La Encantada Silver Mine, La Parrilla Silver Mine & La Luz Silver Project. The company’s 3580 employees are led by CEO Keith Neumeyer from the corporate headquarters at 925 West Georgia Street.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

For more information on First Majestic J and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.

About FinancialPress.com

FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.

Check Also

Shares of TSX Venture Miscellaneous Company Yangarra Resources Ltd. (TSX:YGR:CA) Fall 4.65% on September 29

In sliding 4.65%, Yangarra Resources Ltd. (TSX:YGR:CA) was one of the worst performing stocks in …