First Majestic Silver Corp. Hits Day Low of CAD 14.42 Amid Price Pressure

First Majestic Silver Corp. experienced a significant decline today, with the stock dropping by 7.56% and reaching an intraday low of CAD 14.42. This mid-cap company, operating in the Gems, Jewellery and Watches industry, has shown a stark contrast in its performance metrics compared to the broader market. Over the past week, First Majestic Silver Corp. has seen a 14.63% decrease, while the S&P/TSX 60 index fell by only 2.07%.
Despite today's downturn, the company has demonstrated strong performance over the past year, boasting a remarkable 57.43% increase, significantly outperforming the S&P/TSX 60's 21.2% gain. Year-to-date, the stock has surged by 90.51%, reflecting its robust market position.

Financially, First Majestic Silver Corp. has reported impressive growth metrics, including a net profit increase of 2139.63% and a pre-tax profit of CAD 48.85 million, which has grown by 265.63%. The company maintains a low debt-to-equity ratio and high institutional holdings at 42.84%, indicating strong backing from knowledgeable investors.