Oct. 8 at 2:45 PM
$AG $AG First Majestic trims Silver Storm
$SVRSF stake below 20% — strategic, not bearish.
They sold 37.6M shares off-exchange for C
$8.7M, keeping 140.7M shares + 25.7M warrants. This cleans up accounting optics (drops below the “significant influence” line) while retaining upside.
Silver Storm gets a cleaner cap table; AG pockets cash for core growth and more buybacks/dividends. Analysts already raising AG targets (TD Cowen to CA
$22).
Net: smart portfolio rotation, not a sell-signal.
I’m holding — sector re-rate ahead as stale metrics roll off next quarters.