Van Eck Associates Corp. recently announced the acquisition of new stake in First Majestic Silver Corporation (NYSE:AG). The institutional investor has increased its shareholding in the Basic Materials company by 3.78% to 29.63 million shares with purchase of 1.08 million shares. This fresh investment now brings its stake to 10.33% valued currently at $182.24 million. In addition, ETF Managers Group LLC raised its holdings by 12.9 million to 12.9 million shares. And The Vanguard Group, Inc. has lifted its position by 1.09% or 75871.0 shares – to 7.06 million shares.
Currently, there are 286.94M common shares owned by the public and among those 280.23M shares have been available to trade.
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The top 3 mutual fund holders in First Majestic Silver Corporation are VanEck Gold Miners ETF, ETFMG Prime Junior Silver ETF, and VanEck Junior Gold Miners ETF. VanEck Gold Miners ETF owns 15.12 million shares of the company’s stock, all valued at over $92.98 million. The company sold -0.14 million shares recently to bring their total holdings to about 5.27% of the shares outstanding. VanEck Junior Gold Miners ETF sold 10552.0 shares to bring its total holdings to over 12.19 million shares at a value of $74.98 million. VanEck Junior Gold Miners ETF now owns shares totaling to 4.25% of the shares outstanding.
The company’s stock has a 5-day price change of -5.94% and -14.84% over the past three months. AG shares are trading -25.37% year to date (YTD), with the 12-month market performance down to -43.96% lower. It has a 12-month low price of $4.38 and touched a high of $8.39 over the same period. AG has an average intraday trading volume of 6.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.33%, -18.43%, and -21.37% respectively.
Institutional ownership of First Majestic Silver Corporation (NYSE: AG) shares accounts for 33.76% of the company’s 286.94M shares outstanding. Mutual fund holders own 29.54%, while other institutional holders and individual stakeholders account for 4.25% and 0.05% respectively.
It has a market capitalization of $1.32B and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.99% over the week and 4.82% over the month.
Analysts forecast that First Majestic Silver Corporation (AG) will achieve an EPS of $0 for the current quarter, $0.03 for the next quarter and $0.08 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of $0.09. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 74.33%, and 98.28% over the next financial year. EPS should grow at an annualized rate of 46.80% over the next five years, compared to -6.30% over the past 5-year period.
