Angelica Ballesteros
2 min read
In This Article:
irst Majestic Silver Corp. (NYSE:AG) is one of the 10 Stocks Boast Whopping Gains Amid Market Downturn.
First Majestic saw its share prices grow by 3.39 percent on Tuesday to close at $8.55 apiece, as investor funds flocked to mining stocks following silver prices’ rally to a new all-time high.
As of 4:20 PM EST, the spot prices of silver are up by 2.18 percent at $37.10 per troy ounce, with investors resorting to risk-safe assets such as precious metals amid the ongoing geopolitical tensions in the Middle East.
An open-pit mine framed by a mountain range, highlighting the company's vast mining concessions.
First Majestic Silver Corp. (NYSE:AG) is one of the publicly listed companies focused heavily on silver mining. In recent news, the company said it discovered a new silver-gold deposit called Santo Nino, one kilometer away from the Santa Elena mining property in Sonora, Mexico.
It was also able to ramp up the production of its Navidad deposit following successful drilling operations.
First Majestic Silver Corp. (NYSE:AG) said that the addition of Navidad and Sto. Nino raised the number of its hosted production sites to four, the others being Sta. Elena and Ermitano.
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Disclosure: None. This article is originally published at Insider Monkey.
