Cubist Systematic Strategies LLC bought a new stake in shares of First Majestic Silver Corp (NYSE:AG) (TSE:FR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,622 shares of the mining company’s stock, valued at approximately $346,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. PEAK6 Investments L.P. raised its stake in First Majestic Silver by 191.9% during the 3rd quarter. PEAK6 Investments L.P. now owns 53,198 shares of the mining company’s stock valued at $364,000 after buying an additional 34,975 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in First Majestic Silver by 513.6% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,109,456 shares of the mining company’s stock valued at $14,429,000 after buying an additional 1,765,678 shares during the last quarter. ING Groep NV increased its stake in shares of First Majestic Silver by 60.1% in the 3rd quarter. ING Groep NV now owns 26,420 shares of the mining company’s stock worth $181,000 after purchasing an additional 9,920 shares in the last quarter. Ninepoint Partners LP purchased a new stake in shares of First Majestic Silver in the 3rd quarter worth $3,787,000. Finally, Advisor Group Inc. increased its stake in shares of First Majestic Silver by 29.8% in the 3rd quarter. Advisor Group Inc. now owns 56,481 shares of the mining company’s stock worth $387,000 after purchasing an additional 12,960 shares in the last quarter. Institutional investors and hedge funds own 29.95% of the company’s stock.
AG has been the subject of several analyst reports. Scotiabank reduced their price objective on First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating for the company in a research note on Friday, November 3rd. Zacks Investment Research upgraded First Majestic Silver from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Friday, October 20th. BMO Capital Markets lowered First Majestic Silver from a “market perform” rating to an “underperform” rating in a research note on Friday, December 22nd. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of First Majestic Silver in a research note on Wednesday, October 18th. Finally, ValuEngine upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.50.
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First Majestic Silver 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.
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