First Majestic Silver (AG): Analyst Price Target Rises 36.52% as Institutional Backing Strengthens

First Majestic Silver has captured renewed investor attention, with analyst consensus dramatically shifting upward. The average one-year price target for the silver mining company has been revised to $23.50 per share, marking a significant 36.52% jump from the previous estimate of $17.22 set in early January 2026. This upward revision reflects growing confidence among equity analysts tracking the sector.

Current analyst valuations span a wide range, with price targets clustering between $19.21 on the conservative end and $27.65 at the bullish extreme. The consensus target of $23.50 represents a 6.64% premium to AG’s latest closing price of $22.04 per share, suggesting room for appreciation in the near term.

Institutional Investors Loading Up on Silver Mining Exposure

The fund positioning landscape reveals a compelling story about institutional conviction. A total of 354 funds and institutions currently report positions in First Majestic Silver, an increase of 14 institutional holders (or 4.12%) over the past quarter. This growing institutional footprint demonstrates broadening market interest in the silver mining space.

The aggregate portfolio weight dedicated to AG across all institutional holders now stands at 0.23%—up 1.04% from prior quarters. More significantly, institutional investors collectively increased their shareholding by 2.69% to reach 297,405 thousand shares in the most recent three-month period. The put/call ratio for AG trading at 0.44 reinforces the bullish technical setup, indicating that options traders are favoring upside scenarios.

Major Shareholders Reshaping Their Stakes

Individual fund managers are making noteworthy portfolio adjustments:

Van Eck Associates has emerged as the largest institutional holder, owning 43,226 thousand shares representing 8.80% of the company. The firm dramatically increased its position from 32,754 thousand shares held in the prior period—a 24.23% expansion. Even more aggressively, Van Eck boosted its portfolio allocation weight in AG by 60.97% over the quarter, signaling conviction in further upside.

Toroso Investments holds 21,015 thousand shares (4.28% stake), up from 18,434 thousand shares previously, reflecting 12.28% position growth. Though Toroso grew its absolute share count, it actually reduced the portfolio weighting by 43.62%, suggesting it’s maintaining exposure while rebalancing overall allocations.

MIRAE ASSET GLOBAL ETFS HOLDINGS owns 18,932 thousand shares (3.85% of the company), having increased from 13,667 thousand shares—a noteworthy 27.81% jump. Similar to Toroso, MIRAE ASSET decreased its portfolio allocation weight by 24.80%, indicating absolute growth masked by broader portfolio changes.

Amplify ETF Trust’s Junior Silver Miners ETF holds 18,383 thousand shares (3.74% ownership), marginally up from 17,482 thousand shares (4.90% increase). This fund increased its portfolio weight by 1.27%, showing modest confidence in the silver mining narrative.

VanEck Vectors Gold Miners ETF (GDX) maintains 14,776 thousand shares (3.01% stake), though this represents a 17.87% decrease from its prior 17,416 thousand shares. Interestingly, GDX increased its portfolio allocation weight by 0.39% despite cutting absolute holdings, a nuanced repositioning move.

The Bottom Line on Analyst Momentum and Fund Sentiment

The combination of upgraded price targets, expanding institutional participation, and strategic position adjustments paints a picture of growing optimism surrounding First Majestic Silver. The 36.52% upward revision in consensus price targets reflects fundamental reassessment, while institutional behavior—particularly Van Eck’s aggressive 60% weighting increase—suggests sophisticated investors are betting on continued appreciation. With the put/call ratio favoring call buyers and 354 institutional stakeholders now monitoring the position, AG appears to be attracting serious capital flow in the precious metals space.

Data sourced from Fintel, a comprehensive investing research platform covering fundamentals, analyst research, ownership data, fund sentiment, options analysis, and insider activity. This analysis originally appeared on Fintel.