Friedberg Investment Management lowered its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,027 shares of the mining company’s stock after selling 700 shares during the period. Friedberg Investment Management’s holdings in First Majestic Silver Corp. were worth $241,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in First Majestic Silver Corp. by 71.0% in the second quarter. Van ECK Associates Corp now owns 19,593,256 shares of the mining company’s stock worth $162,820,000 after buying an additional 8,137,139 shares during the last quarter. Vanguard Group Inc. grew its holdings in First Majestic Silver Corp. by 5.4% during the second quarter. Vanguard Group Inc. now owns 3,346,737 shares of the mining company’s stock valued at $27,811,000 after purchasing an additional 172,004 shares during the last quarter. TD Asset Management Inc. grew its holdings in First Majestic Silver Corp. by 1.0% during 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 purchasing an additional 14,152 shares during the last quarter. Alps Advisors Inc. grew its holdings in First Majestic Silver Corp. by 93.8% during the second quarter. Alps Advisors Inc. now owns 1,235,506 shares of the mining company’s stock valued at $10,267,000 after purchasing an additional 598,077 shares during the last quarter. Finally, Morgan Stanley grew its holdings in First Majestic Silver Corp. by 68.3% during the first quarter. Morgan Stanley now owns 944,449 shares of the mining company’s stock valued at $7,668,000 after purchasing an additional 383,398 shares during the last quarter. Hedge funds and other institutional investors own 29.35% of the company’s stock.

Several equities analysts have commented on AG shares. Zacks Investment Research upgraded First Majestic Silver Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of First Majestic Silver Corp. in a report on Friday, August 4th. Finally, BidaskClub downgraded First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $12.67.

First Majestic Silver Corp. (AG) traded up 1.020% during midday trading on Monday, hitting $7.425. The stock had a trading volume of 1,190,651 shares. The firm has a 50-day moving average price of $6.95 and a 200-day moving average price of $7.77. First Majestic Silver Corp. has a 1-year low of $5.92 and a 1-year high of $10.92. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 95.192 and a beta of 0.22.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, August 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). First Majestic Silver Corp. had a net margin of 5.11% and a return on equity of 1.60%. The business had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $77.62 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities research analysts anticipate that First Majestic Silver Corp. will post $0.00 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece of content was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/09/friedberg-investment-management-reduces-position-in-first-majestic-silver-corp-ag.html.

First Majestic Silver Corp. 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.

Institutional Ownership by Quarter for First Majestic Silver Corp. (NYSE:AG)

Receive News & Stock 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 stocks with our FREE daily email newsletter.