For December delivery, silver was retreating 1.89% to $18.70 per ounce on the COMEX this afternoon.
The metal was falling as the dollar was stronger today. Silver is more expensive to foreign investors when the greenback is higher.
Market participants are also eyeing Federal Reserve Chairwoman Janet Yellen's speech in Jackson Hole, WY later this week. The speech will be closely watched for further clues on U.S. interest rate policy, Reuters noted.
Silver is non-interest paying and struggles to compete with assets that offer a yield when interest rates are hiked.
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 "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 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