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TheStreet Open House

6 Gold & Silver Miners to Play the Eurozone Debt Crisis

Stocks in this article: JAGGPLNGAUQAGNAK

First Majestic Silver

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First Majestic Silver (AG) 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

6 of 7

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