Why First Majestic Silver Stock Jumped 10% Today
Shares of silver and gold miner First Majestic Silver (NYSE: AG) rose as much as 10% or so on Jan. 20. By roughly 2 p.m. EST the stock was still holding on to a nearly 9% gain. Investor enthusiasm was likely driven by the obvious and a more news-driven reason.
As a precious metals miner, First Majestic Silver's top and bottom lines are tied to the price of the commodities it produces. With both gold and silver prices up today, it's not shocking that investors would give a boost to the stock. Silver was up just a touch more than gold, which isn't shocking given the metal's history of being a more volatile commodity. But this probably wasn't the only factor at play.
Image source: Getty Images.
Source Fool.com
