First Majestic Silver (AG) Stock Up as Silver Prices Rise

First Majestic Silver (AG) Stock Up as Silver Prices Rise

Silver

  • The precious metal is trading at $18.98 per ounce at 09:40 GMT this morning, a tad higher from the New York close.
  • During the session, silver traded at a high of $19.11 per ounce and a low of $18.93 per ounce. In the New York session
  • yesterday, silver fell 1.1% and closed at $18.97 per ounce. Immediate downside, the first support level is seen at $18.87 per ounce, while on the upside, the first resistance level is at $19.13 per ounce.

 

First Majestic Silver (AG) stock is advancing alongside silver prices on Tuesday morning as the market waits for more clues from the Fed on interest rate increases

First Majestic Silver (AG) Stock Up as Silver Prices Rise

Shares of First Majestic Silver (AG) were increasing late Tuesday morning as silver prices gained.

For December delivery, silver was advancing 0.59% to $19.11 per ounce on the COMEX this morning.

The price of the metal is rising today as investors await more signals from theFederal Reserve on future interest rate hikes, Reuters reports.


Metals such as silver and gold are non-interest paying and have difficulty competing with assets that bear a yield when interest rates are increased.

READ  Gold price edges lower, strong dollar

First Majestic is a Vancouver-based silver mining company engaged in the production, development, exploration and acquisition of mineral properties.

Separately, TheStreet Ratings Team has a “Hold” rating with a score of C- on the stock.

The primary factors that have impacted the rating are mixed. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.

 

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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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