Fosun International Ltd purchased a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the 3rd quarter, HoldingsChannel reports. The firm purchased 100,000 shares of the mining company’s stock, valued at approximately $551,000.

Several other institutional investors and hedge funds have also made changes to their positions in AG. Van ECK Associates Corp increased its stake in shares of First Majestic Silver by 17.0% during the 2nd quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock worth $182,461,000 after purchasing an additional 3,471,408 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of First Majestic Silver by 121.7% during the 2nd quarter. CIBC Asset Management Inc now owns 516,348 shares of the mining company’s stock worth $3,940,000 after purchasing an additional 283,464 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of First Majestic Silver during the 2nd quarter worth $1,920,000. Global X Management Co LLC increased its stake in shares of First Majestic Silver by 5.3% during the 2nd quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock worth $18,765,000 after purchasing an additional 123,287 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of First Majestic Silver by 8.3% during the 2nd quarter. Alps Advisors Inc. now owns 1,054,560 shares of the mining company’s stock worth $7,108,000 after purchasing an additional 80,767 shares during the last quarter. Institutional investors own 26.71% of the company’s stock.

NYSE:AG opened at $5.24 on Wednesday. First Majestic Silver Corp. has a 1 year low of $4.75 and a 1 year high of $8.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.38 and a quick ratio of 2.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Wednesday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 33.27% and a negative return on equity of 5.13%. The business had revenue of $88.50 million for the quarter, compared to analyst estimates of $126.56 million. First Majestic Silver’s revenue was up 43.0% compared to the same quarter last year. On average, sell-side analysts predict that First Majestic Silver Corp. will post -0.16 earnings per share for the current year.

Several research analysts have recently commented on the stock. ValuEngine lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. TD Securities restated a “buy” rating on shares of First Majestic Silver in a research note on Thursday, November 8th. HC Wainwright set a $9.00 price target on shares of First Majestic Silver and gave the stock a “buy” rating in a research note on Thursday, November 8th. Credit Suisse Group lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research upgraded shares of First Majestic Silver from a “strong sell” rating to a “hold” rating in a research note on Friday, October 26th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $8.75.

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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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