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

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Sprott Inc. grew its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 589,998 shares of the mining company’s stock after buying an additional 97,865 shares during the quarter. First Majestic Silver accounts for approximately 1.4% of Sprott Inc.’s portfolio, making the stock its 28th largest holding. Sprott Inc.’s holdings in First Majestic Silver were worth $5,937,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AG. Toronto Dominion Bank grew its stake in shares of First Majestic Silver by 64.8% during the first quarter. Toronto Dominion Bank now owns 146,122 shares of the mining company’s stock valued at $963,000 after buying an additional 57,451 shares during the last quarter. ETF Managers Group LLC grew its stake in shares of First Majestic Silver by 3.5% during the first quarter. ETF Managers Group LLC now owns 943,272 shares of the mining company’s stock valued at $6,207,000 after buying an additional 31,738 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of First Majestic Silver during the first quarter valued at about $2,621,000. CIBC World Markets Inc. grew its stake in shares of First Majestic Silver by 18.4% during the first quarter. CIBC World Markets Inc. now owns 144,906 shares of the mining company’s stock valued at $953,000 after buying an additional 22,550 shares during the last quarter. Finally, Teza Capital Management LLC bought a new position in shares of First Majestic Silver during the first quarter valued at about $192,000. 27.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AG traded up $0.36 during trading hours on Monday, hitting $9.67. The company’s stock had a trading volume of 167,356 shares, compared to its average volume of 4,915,454. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 3.13. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -46.05 and a beta of 0.08. First Majestic Silver Corp. has a 12 month low of $4.59 and a 12 month high of $11.62. The business has a 50-day simple moving average of $10.33 and a 200-day simple moving average of $7.66.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Wednesday, August 7th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The business had revenue of $83.67 million during the quarter, compared to the consensus estimate of $87.77 million. First Majestic Silver had a negative return on equity of 3.57% and a negative net margin of 50.33%. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, equities research analysts forecast that First Majestic Silver Corp. will post 0.06 EPS for the current year.

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

First Majestic Silver Company 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.

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

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