For September delivery, silver is falling 2.21% to $19.57 per ounce on the COMEX this morning.
The price of the metal is dropping today on a firmer dollar. Silver is more expensive to foreign currency holders when the greenback is strong.
The dollar hit a four-month high on U.S. housing starts data, which boosted expectations that the Federal Reserve could increase interest rates before the end of the year, Reuters noted.
Precious metals such as silver and gold are non-interest paying and can struggle to compete with assets that offer a yield when interest rates are hiked.
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