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Municipal Employees Retirement System of Michigan Reduces Holdings in First Majestic Silver Corp. $AG
The Municipal Employees Retirement System of Michigan significantly decreased its stake in First Majestic Silver Corp. (NYSE:AG) by 81.7% in Q3, selling over 5 million shares but still holding 1.12 million shares valued at $13.84 million. Despite the pension fund’s reduction, other institutional investors have either established new positions or increased their holdings in the company. First Majestic Silver recently reported beating EPS expectations but missing revenue targets, showcased strong year-over-year revenue growth, and increased its quarterly dividend, holding an average analyst rating of “Moderate Buy” with a $25 price target.