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6 Gold & Silver Miners to Play the Eurozone Debt Crisis

First Majestic Silver

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First Majestic Silver (AG - Get Report) is engaged in the business of production, development, exploration and acquisition of mineral properties focusing on silver in Mexico. This stock has been in a strong uptrend in 2011 with shares up around 20% so far in the year.

52-Week Range: $7.33-$26.88

Today's Volume: 362,433

Three-Month Average Volume: 1.49 million

First Majestic Silver has a market cap of $1.81 billion and an enterprise value of $1.65 billion. The stock trades at a trailing price-to-earnings of 22.61 and a forward price-to-earnings of 13.62. Its estimated growth rate for next year is pegged at 10.30%. The current short interest as a percentage of the float for First Majestic is very low at just 0.3%.

From a technical standpoint, this stock is setting up for a major breakout if shares can manage to move above both its 50-day of $18.74 and 200-day of $18.78 on strong volume. Traders should watch for a high volume move through those levels that's tracking close to or above its three-month average action of 1.49 million shares. If that breakout triggers, then target a run in this stock towards $22 a share or possibly much higher.

>>5 Breakout Trades for This Crazy Market
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AUQ $0.00 0.00%
JAG $0.00 0.00%
AG $10.38 5.80%
GPL $1.81 12.00%
NG $6.45 3.40%


Chart of I:DJI
DOW 17,679.20 +18.49 0.10%
S&P 500 2,044.85 -5.78 -0.28%
NASDAQ 4,695.1520 -21.9420 -0.47%

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