First Majestic Silver (AG) Stock Climbs on Higher Silver Prices

First Majestic Silver (AG) stock is rising on Friday afternoon as silver prices get a lift from a weaker dollar.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of First Majestic Silver (AG) - Get Report are climbing 4.84% to $17.34 late Friday afternoon as silver prices trade in the green.

For September delivery, silver is up 0.81% to $20.36 per ounce on the COMEX this afternoon.

A report on U.S. economic growth came in below expectations, which pushed the dollar lower and supported precious metals, MarketWatch reports.

Silver and gold are more expensive to foreign investors when the greenback is strong.

Gross domestic product rose at a seasonally adjusted annual rate of 1.2% in the second quarter, while economists had projected an increase of 2.6%.

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

But the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: AG

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