First Majestic Silver Corp. (NYSE:AG) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its holdings in First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,716,836 shares of the mining company's stock after selling 2,196,153 shares during the quarter. Van ECK Associates Corp owned approximately 8.85% of First Majestic Silver worth $146,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC lifted its stake in shares of First Majestic Silver by 1.8% during the third quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company's stock valued at $34,684,000 after buying an additional 99,640 shares during the period. National Bank of Canada FI lifted its stake in shares of First Majestic Silver by 18.0% during the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company's stock valued at $4,102,000 after buying an additional 104,092 shares during the period. Raymond James & Associates lifted its stake in shares of First Majestic Silver by 17.7% during the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company's stock valued at $3,349,000 after buying an additional 83,867 shares during the period. Realta Investment Advisors lifted its stake in shares of First Majestic Silver by 16.8% during the fourth quarter. Realta Investment Advisors now owns 497,726 shares of the mining company's stock valued at $2,882,000 after buying an additional 71,456 shares during the period. Finally, Barclays PLC purchased a new position in shares of First Majestic Silver during the third quarter valued at approximately $2,419,000. Hedge funds and other institutional investors own 27.16% of the company's stock.

First Majestic Silver Trading Down 4.6 %

Shares of AG stock traded down $0.27 during mid-day trading on Friday, reaching $5.44. The company's stock had a trading volume of 26,144,654 shares, compared to its average volume of 17,703,598. The company's 50 day simple moving average is $5.75 and its 200-day simple moving average is $6.01. First Majestic Silver Corp. has a 12-month low of $4.28 and a 12-month high of $8.44. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.70 billion, a PE ratio of -20.13 and a beta of 1.24.

Analysts Set New Price Targets

AG has been the topic of several recent analyst reports. HC Wainwright reissued a "buy" rating and set a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, January 10th. Scotiabank cut their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 15th.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.