NEW YORK (TheStreet) -- Shares of First Majestic Silver (AG - Get Report) are spiking 6.88% to $16.47 late Wednesday morning as silver prices rebound.

For September delivery, silver is gaining 0.86% to $20.35 per ounce on the COMEX this morning.

The metal is advancing today as a rally in stocks pauses, MarketWatch reports.

Silver traded as high as $20.595 per ounce in yesterday's trading session and was lifted in part by its use as an industrial commodity.

Additionally, the dollar is weaker today. Precious metals such as silver and gold are more expensive to foreign currency holders when the greenback is strong.

Silver could test a new two-year high today, MarketWatch noted.

First Majestic is a Vancouver-based mining company engaged in silver production, development, exploration and the 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 feeble growth in the company's 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