NEW YORK (TheStreet) -- Shares of First Majestic Silver (AG - Get Report) are climbing 6.48% to $14.45 in mid-afternoon trading on Friday as silver prices head toward their biggest weekly gain in nearly three years, according to MarketWatch.
Silver for September delivery is increasing 5.60% to $19.67 per ounce on the COMEX this afternoon.
Safe-haven assets such as silver and gold continue to benefit from uncertainty surrounding Britain's decision last week to exit the European Union.
Silver prices in particular are receiving an additional boost because, unlike gold, the commodity "has also many industrial uses and so when base metals like copper rally, silver benefits from this source, too," Fawad Razaqzada, market analyst at Forex.com and City Index, told MarketWatch.
First Majestic Silver is a Canadian mining company involved in silver production and exploration.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.
First Majestic Silver's weaknesses include its feeble growth in its earnings per share, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: AG
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 article's author.