This group of stocks' market values match AG's market value. We will take a look at Kennedy-Wilson Holdings Inc (NYSE: KW), Brady Corp (NYSE: BRC), Moog Inc (NYSE: MOG), Arconic Corporation (NYSE: ARNC), The Brink's Company (NYSE: BCO), Old National Bancorp (NASDAQ: ONB), and SPX Corporation (NYSE: SPXC). Let's also examine hedge fund activity in other stocks - not necessarily in the same industry as First Majestic Silver Corp (NYSE:AG) but similarly valued. These moves are interesting, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience). It's worth mentioning that Peter Rathjens, Bruce Clarke and John Campbell's Arrowstreet Capital dropped the biggest investment of all the hedgies monitored by Insider Monkey, valued at close to $41.5 million in stock, and Renaissance Technologies was right behind this move, as the fund dumped about $30.8 million worth. Since First Majestic Silver Corp (NYSE:AG) has faced declining sentiment from the aggregate hedge fund industry, it's safe to say that there lies a certain "tier" of money managers that slashed their entire stakes by the end of the third quarter. Lansdowne Partners is also relatively very bullish on the stock, dishing out 0.41 percent of its 13F equity portfolio to AG. In terms of the portfolio weights assigned to each position Sprott Asset Management allocated the biggest weight to First Majestic Silver Corp (NYSE:AG), around 0.79% of its 13F portfolio. Other professional money managers with similar optimism comprise Israel Englander's Millennium Management, and Ken Griffin's Citadel Investment Group. The second largest stake is held by Alex Snow of Lansdowne Partners, with a $10.3 million position 0.4% of its 13F portfolio is allocated to the company. With hedgies' capital changing hands, there exists a select group of key hedge fund managers who were boosting their stakes substantially (or already accumulated large positions).Īccording to Insider Monkey's hedge fund database, Eric Sprott's Sprott Asset Management has the biggest position in First Majestic Silver Corp (NYSE:AG), worth close to $19.2 million, comprising 0.8% of its total 13F portfolio. Below, you can check out the change in hedge fund sentiment towards AG over the last 21 quarters. Do Hedge Funds Think AG Is A Good Stock To Buy Now?Īt third quarter's end, a total of 14 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 0% from the previous quarter. With all of this in mind we're going to check out the key hedge fund action encompassing First Majestic Silver Corp (NYSE: AG). You can subscribe to our free daily newsletter on our website. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We go through lists like the 15 best blue chip stocks to pick the best large-cap stocks to buy. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We believe this will lead to inflation and boost real estate prices. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. That's why at the end of this article we will examine companies such as Kennedy-Wilson Holdings Inc (NYSE: KW), Brady Corp (NYSE: BRC), and Moog Inc (NYSE: MOG) to gather more data points.Īt Insider Monkey we scour multiple sources to uncover the next great investment idea. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. Our calculations also showed that AG isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video for a quick look at the top 5 stocks). The stock was in 14 hedge funds' portfolios at the end of September. Overall, hedge fund sentiment was unchanged. Is AG a good stock to buy now? First Majestic Silver Corp (NYSE: AG) shares haven't seen a lot of action during the second quarter. It's not surprising given that hedge funds have access to better information and more resources to predict the winners in the stock market. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. We like to check what the smart money thinks first before doing extensive research on a given stock. In this article you are going to find out whether hedge funds think First Majestic Silver Corp (NYSE: AG) is a good investment right now.
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