Fiscal Wisdom Wealth Management LLC Makes New Investment in First Majestic Silver Corp. $AG

Fiscal Wisdom Wealth Management LLC bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 80,500 shares of the mining company’s stock, valued at approximately $1,019,000. First Majestic Silver makes up 1.0% of Fiscal Wisdom Wealth Management LLC’s holdings, making the stock its 20th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in First Majestic Silver by 4.3% in the third quarter. Vanguard Group Inc. now owns 18,050,155 shares of the mining company’s stock valued at $221,657,000 after buying an additional 739,315 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of First Majestic Silver during the 3rd quarter worth approximately $1,045,000. Baader Bank Aktiengesellschaft grew its position in shares of First Majestic Silver by 139.9% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 25,212 shares of the mining company’s stock valued at $310,000 after buying an additional 14,704 shares during the last quarter. AlTi Global Inc. acquired a new stake in First Majestic Silver during the 3rd quarter worth $1,262,000. Finally, Profund Advisors LLC boosted its stake in First Majestic Silver by 58.4% in the third quarter. Profund Advisors LLC now owns 56,654 shares of the mining company’s stock valued at $696,000 after acquiring an additional 20,892 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Up 5.1%

AG stock opened at $22.64 on Thursday. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $20.12 and its 200 day moving average price is $14.55. First Majestic Silver Corp. has a 52 week low of $5.09 and a 52 week high of $27.90. The company has a market cap of $11.16 billion, a P/E ratio of 161.74 and a beta of 0.85.

Wall Street Analysts Forecast Growth

AG has been the subject of several research reports. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Scotiabank increased their price objective on First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research note on Friday, January 16th. Finally, HC Wainwright increased their target price on shares of First Majestic Silver from $17.50 to $24.50 and gave the stock a “buy” rating in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.17.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.