Millennium Management LLC Has $136,000 Stake in First Majestic Silver Corp. (AG)

Millennium Management LLC lessened its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 60.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,006 shares of the mining company’s stock after selling 35,505 shares during the period. Millennium Management LLC’s holdings in First Majestic Silver were worth $136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in shares of First Majestic Silver by 10.3% in the 3rd quarter. Wells Fargo & Company MN now owns 93,926 shares of the mining company’s stock worth $533,000 after purchasing an additional 8,770 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of First Majestic Silver by 226.0% in the 3rd quarter. Legal & General Group Plc now owns 46,600 shares of the mining company’s stock worth $264,000 after purchasing an additional 32,305 shares in the last quarter. Morgan Stanley lifted its holdings in shares of First Majestic Silver by 39.4% in the 3rd quarter. Morgan Stanley now owns 3,884,212 shares of the mining company’s stock worth $22,063,000 after purchasing an additional 1,097,560 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Majestic Silver by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,920,837 shares of the mining company’s stock worth $22,270,000 after purchasing an additional 14,475 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of First Majestic Silver by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 3,920,837 shares of the mining company’s stock worth $22,270,000 after purchasing an additional 14,475 shares in the last quarter. 26.20% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:AG opened at $5.93 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.78 and a debt-to-equity ratio of 0.24. First Majestic Silver Corp. has a 1-year low of $4.59 and a 1-year high of $8.48. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -28.24 and a beta of -0.17.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, May 9th. The mining company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). First Majestic Silver had a negative return on equity of 4.63% and a negative net margin of 59.46%. The business had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $124.73 million. During the same period last year, the business earned ($0.03) EPS. The business’s revenue was up 48.1% on a year-over-year basis. As a group, sell-side analysts forecast that First Majestic Silver Corp. will post -0.01 earnings per share for the current year.

In related news, major shareholder Vinita Lee Piper acquired 22,055 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average cost of $5.93 per share, for a total transaction of $130,786.15. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.85% of the stock is currently owned by company insiders.

AG has been the topic of a number of recent research reports. ValuEngine upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a report on Friday, January 25th. HC Wainwright set a $8.00 target price on First Majestic Silver and gave the stock a “buy” rating in a report on Tuesday, February 26th. Zacks Investment Research upgraded First Majestic Silver from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a report on Friday, April 5th. B. Riley initiated coverage on First Majestic Silver in a report on Friday, March 1st. They issued a “neutral” rating and a $6.00 target price on the stock. Finally, BMO Capital Markets reiterated a “hold” rating on shares of First Majestic Silver in a report on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Majestic Silver currently has a consensus rating of “Hold” and an average target price of $7.60.

ILLEGAL ACTIVITY NOTICE: “Millennium Management LLC Has $136,000 Stake in First Majestic Silver Corp. (AG)” was published by WKRB News and is owned by of WKRB News. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.wkrb13.com/2019/05/16/millennium-management-llc-has-136000-stake-in-first-majestic-silver-corp-ag.html.

First Majestic Silver Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

Recommended Story: What is a back-end load?

Want to see what other hedge funds are holding AG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Majestic Silver Corp. (NYSE:AG) (TSE:FR).

Institutional Ownership by Quarter for First Majestic Silver (NYSE:AG)

Receive News & Ratings for First Majestic Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver and related companies with MarketBeat.com's FREE daily email newsletter.