Sprott Inc. Acquires 97,865 Shares of First Majestic Silver Corp. (NYSE:AG)

Sprott Inc. increased its holdings in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 19.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 589,998 shares of the mining company’s stock after acquiring an additional 97,865 shares during the period. First Majestic Silver comprises approximately 1.4% of Sprott Inc.’s portfolio, making the stock its 28th biggest holding. Sprott Inc. owned about 0.29% of First Majestic Silver worth $5,937,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB bought a new position in shares of First Majestic Silver in the first quarter valued at approximately $27,000. Resources Investment Advisors LLC. grew its holdings in shares of First Majestic Silver by 281.3% in the second quarter. Resources Investment Advisors LLC. now owns 6,100 shares of the mining company’s stock valued at $48,000 after acquiring an additional 4,500 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of First Majestic Silver in the second quarter valued at approximately $102,000. AE Wealth Management LLC bought a new position in shares of First Majestic Silver in the second quarter valued at approximately $116,000. Finally, QCM Cayman Ltd. bought a new position in shares of First Majestic Silver in the first quarter valued at approximately $168,000. 27.21% of the stock is owned by institutional investors.

AG has been the subject of several recent analyst reports. B. Riley upped their target price on First Majestic Silver from $5.95 to $8.20 and gave the company a “neutral” rating in a report on Monday, September 9th. Zacks Investment Research lowered First Majestic Silver from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TheStreet raised First Majestic Silver from a “d+” rating to a “c-” rating in a report on Thursday, July 18th. ValuEngine raised First Majestic Silver from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 17th. Finally, HC Wainwright upped their target price on First Majestic Silver from $8.00 to $11.50 and gave the company a “buy” rating in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. First Majestic Silver has a consensus rating of “Buy” and an average price target of $9.11.

NYSE AG traded up $0.36 on Monday, hitting $9.67. 167,356 shares of the stock traded hands, compared to its average volume of 4,915,454. The business’s fifty day moving average is $10.33 and its two-hundred day moving average is $7.66. First Majestic Silver Corp. has a 12 month low of $4.59 and a 12 month high of $11.62. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -46.05 and a beta of 0.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 3.13.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Wednesday, August 7th. The mining company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). First Majestic Silver had a negative net margin of 50.33% and a negative return on equity of 3.57%. The firm had revenue of $83.67 million for the quarter, compared to the consensus estimate of $87.77 million. During the same period last year, the company posted ($0.07) earnings per share. Analysts expect that First Majestic Silver Corp. will post 0.06 EPS for the current fiscal year.

About First Majestic Silver

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.

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

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