AlTi Global Inc. Makes New Investment in First Majestic Silver Corp. $AG

AlTi Global Inc. bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the third quarter, Holdings Channel reports. The institutional investor bought 106,955 shares of the mining company’s stock, valued at approximately $1,262,000.

A number of other hedge funds also recently added to or reduced their stakes in AG. Bogart Wealth LLC acquired a new stake in First Majestic Silver in the 3rd quarter valued at approximately $28,000. Sound Income Strategies LLC grew its position in First Majestic Silver by 29,900.0% in the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock worth $37,000 after buying an additional 2,990 shares during the last quarter. CWM LLC boosted its position in shares of First Majestic Silver by 57.2% in the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after purchasing an additional 1,860 shares during the period. AdvisorNet Financial Inc lifted its position in shares of First Majestic Silver by 33.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock valued at $48,000 after acquiring an additional 971 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in First Majestic Silver by 7,831.6% during the third quarter. Global Retirement Partners LLC now owns 6,028 shares of the mining company’s stock valued at $74,000 after buying an additional 5,952 shares during the period. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Stock Performance

NYSE:AG opened at $23.79 on Wednesday. The firm has a market capitalization of $11.73 billion, a PE ratio of 169.93 and a beta of 0.84. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. First Majestic Silver Corp. has a 12-month low of $5.09 and a 12-month high of $27.90. The firm has a 50-day moving average price of $19.23 and a 200 day moving average price of $13.98.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. BMO Capital Markets reaffirmed a “market perform” rating on shares of First Majestic Silver in a research report on Friday, January 16th. HC Wainwright raised their price objective on First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a research note on Friday, January 16th. Scotiabank increased their price target 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. Finally, Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.