First Majestic Silver (AG) Stock Price and Forecast: Should I buy AG now?

AG shares benefit as the Reddit-fueled army reportedly looks to silver.
Shares in First Majestic Silver (AG) are up nearly 60% in the last week.
Silver prices have rallied 20% in the last week.

Ivan Brian FXStreet

First Majestic Silver (AG) is a miner of precious metals and as the name suggests, primarily silver! 65% of AG’s revenue comes from silver with the balance coming from aluminium. So the performance of AG is largely determined by the price of silver. And silver has been on a charge lately, rising by over 20% to trade above $30, before falling back somewhat.

Another retail target

The reason for this charge has been the army of Reddit-fueled retail traders supposedly turning their attention to silver. However many members of the /wallstreetbets Reddit community dispute this saying they are staying with Gamestop (GME) and AMC.

Another short squeeze?

Either way silver has been on a charge and mining stocks have benefited. The FTSE100 is heavily weighted to mining stocks and was pulled along for the ride yesterday. To add to the factors helping push First Majestic Silver (AG) higher is the fact that AG has a healthy short interest, of over 23%. This has also drawn attention given the short-squeeze moves witnessed across a range of stocks in 2021.

Strong update, results due on Thursday

First Majestic (AG) released a positive update on January 20 with silver production higher than previously guided at 11.6 million ounces. Q4 earnings for AG are due to be released on February 4, 2021.

The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

GBP/USD: Daily gains remain capped by 1.3650

GBP/USD leaves behind Monday’s pessimism and advances marginally on Tuesday. Cable’s humble gains, however, appear to have met quite a decent resistance in the 1.3650 zone for now, in a context of a slight selling pressure hovering around the Greenback.

EUR/USD picks some pace, retests 1.1670

EUR/USD advances modestly and revisits the 1.670 zone on turnaround Tuesday. The pair’s slight advance comes after two daily drops in a row and follows the humble decline in the US Dollar, while investors gear up for upcoming US data and the Jackson Hole Symposium.

Gold treads water around $4,650

Gold navigates the middle of its daily range near $4,650 per troy ounce on Tuesday. The lack of clear direction in the yellow metal comes on the back of the widespread cautious tone among market participants, a mildly offered stance in the US Dollar and a marked decline in US Treasury yields across the curve.

Crypto Today: Bitcoin soars past $80K as Ethereum and XRP hold gains

Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors' risk-on sentiment, liquidity conditions and the technical outlook.

Nvidia earnings: A quick look at expectations

The 2026 Q2 earnings season is nearly over for S&P 500 members, with the reporting cycle notably positive. But looming large this week is none other than AI-favorite NVIDIA (NVDA) , whose results will wrap up the reporting cycle for the Magnificent Seven group as well.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.