Cibc World Market Inc. Sells 298,363 Shares of First Majestic Silver Corp. $AG

Cibc World Market Inc. reduced its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 83.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,016 shares of the mining company’s stock after selling 298,363 shares during the quarter. Cibc World Market Inc.’s holdings in First Majestic Silver were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC boosted its position in shares of First Majestic Silver by 5.1% during the second quarter. Tidal Investments LLC now owns 18,433,836 shares of the mining company’s stock worth $152,448,000 after acquiring an additional 890,153 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in First Majestic Silver by 74.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock worth $112,880,000 after purchasing an additional 5,821,751 shares in the last quarter. Lingotto Investment Management LLP lifted its stake in First Majestic Silver by 2.2% in the 2nd quarter. Lingotto Investment Management LLP now owns 9,964,096 shares of the mining company’s stock worth $82,403,000 after purchasing an additional 213,577 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of First Majestic Silver by 30.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 9,013,216 shares of the mining company’s stock valued at $74,539,000 after purchasing an additional 2,126,803 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in shares of First Majestic Silver by 108.7% during the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock valued at $88,527,000 after purchasing an additional 3,751,376 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AG shares. Wall Street Zen downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. HC Wainwright upped their price objective on First Majestic Silver from $17.50 to $24.50 and gave the stock a “buy” rating in a report on Friday, January 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Finally, BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.17.

First Majestic Silver Price Performance

NYSE:AG opened at $21.51 on Wednesday. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 153.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The business has a 50 day simple moving average of $19.98 and a 200-day simple moving average of $14.49. First Majestic Silver Corp. has a 1 year low of $5.09 and a 1 year high of $27.90.

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.