First Majestic (AG) Touches 13-Year High on Silver High

We precocious published 10 Stocks With Crazy Gains. First Majestic Silver Corp. (NYSE:AG) was 1 of the apical performers connected Monday.

First Majestic rallied to a caller 13-year precocious connected Monday, arsenic investors flocked to precious metals for safety, driving spot prices to all-time records amid ongoing geopolitical tensions and concerns implicit the US cardinal bank’s independence.

At intra-day trading, First Majestic Silver Corp. (NYSE:AG) climbed by arsenic overmuch arsenic 8.9 percent to a precocious of $20.60, attracting capitalist involvement aft spot prices of metallic climbed to its highest terms of $86.12. At marketplace close, the banal trimmed gains to extremity the time conscionable up by 6.93 percent astatine $20.22.

The rally successful some metallic and mining firms was chiefly driven by ongoing geopolitical tensions successful Iran which signaled readiness for warfare portion remaining unfastened to negotiations with the US, arsenic good arsenic concerns implicit the Federal Reserve’s independency aft president Jerome Powell revealed that helium was being threatened of transgression indictment by President Donald Trump implicit their disagreements connected involvement rates.

It tin beryllium recalled that Trump has been pushing for little involvement rates successful the US successful a bid to boost economical growth, criticizing the Fed’s rates way for lowering the benchmark rates for lone 3 times past year.

Macroeconomic developments aside, First Majestic Silver Corp. (NYSE:AG) precocious disposed of its Del Toro Silver Mine successful Zacatecas, Mexico to Sierra Madre Gold & Silver Ltd. for a full of $60 million.

Under the agreement, Sierra Madre would initially wage First Majestic Silver Corp. (NYSE:AG) with $60 cardinal worthy of currency and shares—$20 cardinal successful currency and $10 cardinal successful Sierra Madre shares. The remaining $30 cardinal volition beryllium paid successful delayed and contingent consideration.

While we admit the imaginable of AG arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.