VanEck discloses 43,200,333 AG shares (8.84%) in 13G/A

Rhea-AI Filing Summary

Van Eck Associates Corporation filed Amendment No. 6 to Schedule 13G for First Majestic Silver Corp. (AG), reporting beneficial ownership of 43,200,333 common shares, or 8.84%, as of 09/30/2025.

The filer reports sole voting power over 43,001,231 shares and sole dispositive power over 43,200,333 shares, with no shared voting or dispositive power indicated.

The securities are certified as acquired and held in the ordinary course of business and not for the purpose of changing or influencing control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

FIRST MAJESTIC SILVER CORP

(Name of Issuer)

Common Shares

(Title of Class of Securities)

32076V103

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 32076V103

1

Names of Reporting Persons

VAN ECK ASSOCIATES CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 43,001,231.00
6	Shared Voting Power
7	Sole Dispositive Power 43,200,333.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

43,200,333.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.84 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FIRST MAJESTIC SILVER CORP
(b)	Address of issuer's principal executive offices: 925 WEST GEORGIA STREET, SUITE 1800, VANCOUVER, Canada (Federal Level), CANADA
Item 2.
(a)	Name of person filing: Van Eck Associates Corporation
(b)	Address or principal business office or, if none, residence: 666 Third Ave, 9th Floor, New York, NY 10017
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 32076V103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 43,200,333
(b)	Percent of class: 8.84 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 43,001,231
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of: 43,200,333
	(iv) Shared power to dispose or to direct the disposition of:
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

VAN ECK ASSOCIATES CORP

Signature:	Ashley Sousa
Name/Title:	Assistant Vice President, Van Eck Associates Corporation
Date:	11/12/2025

FAQ

Who filed the Schedule 13G/A related to First Majestic Silver (AG)?

The filing was made by Van Eck Associates Corporation (Delaware).

How many AG shares does VanEck report beneficially owning?

VanEck reports 43,200,333 common shares beneficially owned.

What percentage of First Majestic Silver’s class does this represent?

The filing reports 8.84% of the class.

What voting and dispositive powers are reported?

VanEck reports sole voting power over 43,001,231 shares and sole dispositive power over 43,200,333 shares; no shared power is indicated.

What is the event date tied to this ownership report for AG?

The date of event requiring the filing is 09/30/2025.

Is the stake intended to influence control of First Majestic Silver?

No. The filer certifies the securities were acquired and are held in the ordinary course and not to change or influence control.