For December delivery, silver was decreasing 0.07% to $17.45 per ounce on the COMEX this morning.
Silver prices were being weighed down by a stronger dollar today. Precious metals such as silver and gold are more expensive to investors abroad when the greenback is increasing.
Additionally, investors are focusing on comments from Federal Reserve officials, which could suggest an interest rate increase by December, Reuters reports.
Silver does not pay interest and can have difficulty competing with assets that bear a yield when interest rates are hiked.
Minutes from the Fed's recent meeting released this week showed that a number of policymakers believed a rate increase was warranted "relatively" soon if the U.S. economy continued to improve, Reuters noted.
First Majestic is a Vancouver-based silver mining company engaged in the production, development, exploration and acquisition of mineral properties.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and weak operating cash flow.
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