First Majestic (AG) Stock Gets 34% Boost

We recently published a list of 15 Stocks That Stole The Show Last Week. In this article, we are going to take a look at where First Majestic Silver Corp. (NYSE:AG) stands against other best stocks that stole the show last week.

First Majestic Silver jumped by 34 percent week-on-week as investor sentiment was boosted by the recent all-time high of silver prices, supported by its discovery of new gold-silver deposit at its Santa Elena mining in Mexico.

Last week, silver futures rose as high as $36.27 per troy ounce, notching its highest price so far since 2012 as investors sought refuge from precious metals amid the ongoing trade tensions globally.

In recent news, First Majestic Silver Corp. (NYSE:AG) discovered a new gold-silver deposit called Sto. Nino, one kilometer away from the Santa Elena mining property in Sonora, Mexico.

Additionally, it was able to raise the production of its Navidad deposit at the same site following the success of its drilling operations.

First Majestic Silver Corp. (NYSE:AG) said that the addition of Navidad and Sto. Nino raised the number of its hosted production sites to four, the others being Sta. Elena and Ermitano.

An open-pit mine framed by a mountain range, highlighting the company’s vast mining concessions.

“The Santo Niño discovery marks yet another exciting milestone for the district, and the drilling shows the vein remains open for expansion in most directions. At the same time, step-out drilling at the Navidad Discovery continues to intercept exceptionally high-grade mineralization and expand the resource envelope,” said First Majestic Silver Corp. (NYSE:AG) President and CEO Keith Neumeyer.

Overall, AG ranks 3rd on our list of best stocks that stole the show last week. While we acknowledge the potential of AG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.