Hedge Funds Are Crazy About First Majestic Silver Corp (AG)

Consequently, key money managers were leading the bulls’ herd. Sprott Asset Management created the most outsized position in First Majestic Silver Corp (NYSE:AG), while Bloom Tree Partners also made an $11.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Paul Tudor Jones’ Tudor Investment Corp, and Michael Platt and William Reeves’ BlueCrest Capital Mgmt..

Let’s check out hedge fund activity in other stocks similar to First Majestic Silver Corp (NYSE:AG). These stocks are Selective Insurance Group (NASDAQ:SIGI), Care Capital Properties Inc (NYSE:CCP), Nord Anglia Education Inc (NYSE:NORD), and CACI International Inc (NYSE:CACI). This group of stocks’ market values are similar to AG’s market value.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $73 million. That figure was $131 million in AG’s case. CACI International Inc (NYSE:CACI) is the most popular stock in this table. On the other hand Nord Anglia Education Inc (NYSE:NORD) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks First Majestic Silver Corp (NYSE:AG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and buying it up in droves, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None