Global X Management Co. LLC reduced its stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,897,494 shares of the mining company’s stock after selling 46,248 shares during the period. Global X Management Co. LLC owned about 1.15% of First Majestic Silver Corp. worth $15,721,000 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 company. TD Asset Management Inc. raised its position in shares of First Majestic Silver Corp. by 1.0% in the second quarter. TD Asset Management Inc. now owns 1,365,322 shares of the mining company’s stock valued at $11,312,000 after buying an additional 14,152 shares during the period. Sei Investments Co. raised its position in shares of First Majestic Silver Corp. by 1,046.9% in the second quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock valued at $101,000 after buying an additional 11,097 shares during the period. ING Groep NV bought a new position in shares of First Majestic Silver Corp. during the second quarter valued at about $137,000. Aperio Group LLC raised its position in shares of First Majestic Silver Corp. by 1.9% in the second quarter. Aperio Group LLC now owns 99,218 shares of the mining company’s stock valued at $825,000 after buying an additional 1,873 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of First Majestic Silver Corp. during the second quarter valued at about $146,000. Institutional investors own 26.49% of the company’s stock.

Shares of First Majestic Silver Corp. (NYSE:AG) opened at 6.09 on Wednesday. The firm has a 50-day moving average of $7.87 and a 200 day moving average of $8.50. The company has a market capitalization of $1.01 billion, a P/E ratio of 52.96 and a beta of 0.30. First Majestic Silver Corp. has a 1-year low of $5.92 and a 1-year high of $19.15.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, August 3rd. The mining company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.07. First Majestic Silver Corp. had a return on equity of 1.60% and a net margin of 5.11%. The business had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $77.62 million. During the same period in the previous year, the business earned $0.03 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. On average, analysts anticipate that First Majestic Silver Corp. will post $0.05 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece was reported by Daily Political and is owned by of Daily Political. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://www.dailypolitical.com/2017/08/09/global-x-management-co-llc-decreases-stake-in-first-majestic-silver-corp-ag.html.

Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of First Majestic Silver Corp. in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub upgraded shares of First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. National Bank Financial reiterated an “outperform market weight” rating on shares of First Majestic Silver Corp. in a research report on Friday, May 5th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $13.00 target price on shares of First Majestic Silver Corp. in a research report on Friday, April 21st. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.20.

First Majestic Silver Corp. Company Profile

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

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 Corp. (NYSE:AG)

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