September 1, 2016 / 1:52 PM / a year ago

Kerrisdale announces short position in First Majestic Silver Corp

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NEW YORK, Sept 1 (Reuters) - Kerrisdale Capital Management now holds a short position in the stock and via options of First Majestic Silver Corp., according to a report released Thursday by the hedge fund firm.

Kerrisdale, led by Sahm Adrangi, wrote in the report that the Canadian mining company is in a "speculative frenzy" and that its valuation is "now outrageously detached from reality." (Reporting by Lawrence Delevingne and Chuck Mikolajczak; Editing by Frances Kerry)

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