First Majestic Silver Corp. (NYSE:AG) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,716,836 shares of the mining company’s stock after selling 2,196,153 shares during the period. Van ECK Associates Corp owned approximately 8.85% of First Majestic Silver worth $146,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning acquired a new position in shares of First Majestic Silver during the third quarter valued at approximately $72,000. Blue Trust Inc. boosted its stake in First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after purchasing an additional 2,253 shares in the last quarter. Raymond James & Associates increased its position in shares of First Majestic Silver by 17.7% during the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock valued at $3,349,000 after purchasing an additional 83,867 shares during the period. Veracity Capital LLC raised its stake in shares of First Majestic Silver by 18.5% in the 3rd quarter. Veracity Capital LLC now owns 17,344 shares of the mining company’s stock worth $104,000 after buying an additional 2,710 shares in the last quarter. Finally, Corundum Trust Company INC acquired a new stake in shares of First Majestic Silver in the third quarter valued at $72,000. 27.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AG has been the topic of a number of research analyst reports. Scotiabank lowered their target price on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, January 10th.

First Majestic Silver Stock Performance

AG opened at $5.79 on Thursday. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.81 billion, a PE ratio of -21.44 and a beta of 1.24. The business has a fifty day simple moving average of $5.79 and a 200-day simple moving average of $6.02. First Majestic Silver Corp. has a fifty-two week low of $4.17 and a fifty-two week high of $8.44.

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.