Van ECK Associates Corp Purchases 764,790 Shares of First Majestic Silver Corp. (NYSE:AG)

Van ECK Associates Corp lifted its position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 2.7% during the third quarter, Holdings Channel.com reports. The firm owned 28,912,989 shares of the mining company’s stock after buying an additional 764,790 shares during the quarter. Van ECK Associates Corp owned 0.10% of First Majestic Silver worth $173,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Cetera Advisors LLC increased its stake in shares of First Majestic Silver by 3.1% during the first quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock worth $315,000 after purchasing an additional 1,601 shares during the period. Blue Trust Inc. increased its stake in shares of First Majestic Silver by 77.3% during the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares during the period. Veracity Capital LLC increased its stake in First Majestic Silver by 18.5% during the 3rd quarter. Veracity Capital LLC now owns 17,344 shares of the mining company’s stock worth $104,000 after acquiring an additional 2,710 shares during the period. International Assets Investment Management LLC raised its holdings in First Majestic Silver by 39.5% in the 2nd quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock valued at $83,000 after acquiring an additional 3,960 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in First Majestic Silver by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock valued at $1,411,000 after acquiring an additional 3,980 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock traded down $0.20 during trading on Friday, reaching $7.18. 9,330,404 shares of the company’s stock were exchanged, compared to its average volume of 10,523,674. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. First Majestic Silver Corp. has a 1-year low of $4.17 and a 1-year high of $8.44. The company has a market cap of $2.17 billion, a P/E ratio of -26.59 and a beta of 1.31. The firm’s 50-day moving average price is $6.31 and its 200 day moving average price is $6.37.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The business had revenue of $136.20 million for the quarter, compared to analyst estimates of $129.74 million. During the same period last year, the firm posted ($0.02) EPS. First Majestic Silver’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, research analysts anticipate that First Majestic Silver Corp. will post -0.13 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on AG. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price objective on shares of First Majestic Silver in a report on Friday, October 18th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, September 6th.

First Majestic Silver Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.