For July delivery, silver is climbing by 3.97% to $17.05 per ounce on the COMEX this morning.
The price of the metal is rallying on a weaker dollar amid decreasing expectations that the Federal Reserve will increase interest rates any time soon.
Silver is more expensive to foreign currency holders when the greenback is strong.
Investors have nearly ruled out the chance of a rate increase coming out of the central bank's June 14 to 15 policy meeting. They view the likelihood of a July rate increase as reduced to about 26%, after disappointing jobs data last week and comments by Fed Chair Janet Yellen earlier this week, Reuters reports.
The silver metal is non-interest paying and struggles to compete with assets that offer a yield when interest rates are raised.
First Majestic is a Vancouver-based mining company engaged in silver 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 feeble growth in its earnings per share, deteriorating net income and disappointing return on equity.
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