First Majestic Silver (AG) Stock Falls as Silver Prices Retreat
NEW YORK (TheStreet) -- Shares of First Majestic Silver (AG) - Get Report are down 2.39% to $15.51 this afternoon as silver prices decline.
Silver for September delivery is down 0.63% to $19.69 per ounce on the COMEX.
Silver and gold are lower today as mostly positive earnings results dull some of the commodity metals' appeal, MarketWatch reports. A stronger dollar is also weighing on the metals.
U.S. government data released this week showed that the government will most likely raise interest rates as early as September. Haven investments like silver and gold typically trade lower in high interest environments, as they offer no yield.
First Majestic Silver is a Canadian mining company.
Separately, 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.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C-.
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.
However, TheStreet Ratings also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: AG