For December delivery, silver was gaining 2.25% to $19.37 per ounce on the COMEX this afternoon.
The price of the metal was jumping this afternoon after U.S. jobs growth was below analysts' projections, which reduced the probability of an interest rate increase this month, Reuters reports.
Metals such as gold and silver are non-interest paying and have difficulty competing with assets that bear a yield when interest rates are raised.
The U.S. created 151,000 jobs in August, while analysts were estimating 180,000 jobs.
"A slightly higher number would have almost guaranteed a rate hike later this month but now the guessing game will continue," Ole Hansen, Saxo Bank analyst, told the Reuters Global Gold Forum today.
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