Van ECK Associates Corp Has $146.68 Million Holdings in First Majestic Silver Corp. (NYSE:AG)

Van ECK Associates Corp decreased its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 7.6% in the fourth quarter, HoldingsChannel reports. 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 0.09% of First Majestic Silver worth $146,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in shares of First Majestic Silver by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock valued at $34,684,000 after purchasing an additional 99,640 shares during the period. National Bank of Canada FI grew its position in First Majestic Silver by 18.0% during the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock valued at $4,102,000 after purchasing an additional 104,092 shares in the last quarter. Raymond James & Associates increased its stake in First Majestic Silver by 17.7% in the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock valued at $3,349,000 after buying an additional 83,867 shares during the period. Realta Investment Advisors lifted its position in First Majestic Silver by 16.8% in the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock worth $2,882,000 after buying an additional 71,456 shares in the last quarter. Finally, Barclays PLC acquired a new stake in shares of First Majestic Silver during the 3rd quarter valued at $2,419,000. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Price Performance

NYSE 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 stock has a market capitalization of $1.81 billion, a PE ratio of -21.44 and a beta of 1.24. First Majestic Silver Corp. has a 12-month low of $4.17 and a 12-month high of $8.44. The company has a 50 day moving average price of $5.79 and a two-hundred day moving average price of $6.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AG shares. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a research note on Friday, January 10th. 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 research note on Wednesday, January 15th.

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.