Why First Majestic Silver Corp. (AG) Soared On Wednesday

We recently published a list of While Market Bleeds, These 10 Firms Soar. In this article, we are going to take a look at where First Majestic Silver Corp. (NYSE:AG) stands against other best-performing stocks.

First Majestic Silver rallied for a third day on Wednesday, adding 2.59 percent to close at $6.33 apiece as investor sentiment was boosted by its successful discovery of vein-hosted gold and silver mineralization sites at its Santa Elena mining property in Mexico.

In a statement on Wednesday, First Majestic Silver Corp. (NYSE:AG) said it discovered a new gold-silver deposit one kilometer away from the Santa Elena mining property in Sonora, Mexico, and also increased production of the Navidad deposit following successful drilling operations.

With the additions of Navidad and Santo Niño, the Santa Elena property now hosts four significant gold-silver deposits: Santa Elena, Ermitaño, Navidad, and Santo Niño, underscoring the growing scale and potential of the district.

Why First Majestic Silver Corp. (AG) Soared On Wednesday

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 8th on our list of best-performing stocks. While we acknowledge the potential of AG, 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 AI stock that is more promising than AG and that has 10,000x upside potential, check out our report about this cheapest AI stock.

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