Silver has had a lackluster few weeks, but it looks like the tide may finally be turning.
Articles Tagged "First Majestic Silver"
First Majestic Silver (NYSE:AG, TSX:FR) announced their second quarter results, including net earnings of $0.2 million, down from net earnings of $26.5 million in the first quarter of 2013.
Silver spot prices have rallied on expectations that quantitative easing will continue for longer than previously expected.
First Majestic Silver Corp. (TSX:FR,NYSE:AG) announced that Q2 2013 production from its five operating Mexico-based silver mines reached a record 3,268,117 silver equivalent ounces. That is a 55-percent increase from the same quarter the previous year.
After sinking below $19 per ounce last week, silver saw a slight recovery this week, rising to a high of $19.87.
Investors continue to equate silver coins and bars with a cost-effective means of wealth preservation.
Silver fell to its lowest price in two and a half years last week, but has since begun to climb slowly — but steadily — upward.
Mining Weekly reported that First Majestic Silver tripled the proven and probable reserve estimate at San Martin mine on an updated National Instrument 43-101 report.
Silver's price action this week has analysts wondering if the beleaguered white metal may be nearing the bottom of its seven-and-a-half-month downtrend.
The Mideast Times reported that TD Securities has cut its price target for First Majestic Silver Corp. (TSX:FR,NYSE:AG) to C$16.50 from $18. The firm rates the stock a "buy."