NEW YORK (TheStreet) -- Shares of First Majestic Silver (AG - Get Report) are climbing by 5.26% to $10.40 in early afternoon trading on Wednesday, due to the company's solid 2016 first quarter results and higher silver prices.
After yesterday's closing bell, the Vancouver-based silver mining company reported adjusted earnings of 3 cents per share, beating analysts' expectations for break-even earnings.
Revenue for the period was $66.5 million, above Wall Street's estimates of $64 million.
Additionally, First Majestic is getting a boost from rising silver prices today.
For July delivery, silver is rallying by 1.95% to $17.43 per ounce on the COMEX this afternoon due to a weaker dollar.
The metal is more expensive to foreign investors when the greenback is stronger.
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 feeble growth in its earnings per share, 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