Eric Sprott takes 2.3% stake in First Majestic Silver, valued at C$78 million

The silver market continues to heat up and one billionaire investor continues to increase his exposure to the precious metal through the mining sector. Thursday, First Majestic Silver Corp. (AG: NYSE; FR: TSX) announced a bought deal where Eric Sprott will buy 5 million shares of the silver producer, the deal is valued at $78 million Canadian. Sport will own a 2.3% stake in First Majestic when the deal closes, the company said.

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