On August 7, First Majestic Silver rose 7.35% in regular trading, trading at $18.62/share, with turnover of $17.85 million. The rally was driven by a broad surge in precious metals prices, with spot gold breaking above $4,300 per ounce (up 1.4% intraday) and spot silver holding firmly above $60 per ounce, supported by ongoing geopolitical conflicts.

The silver sector saw widespread strength, with Endeavour Silver up 8.49%, Silvercorp Metals up 8.34%, Hecla Mining up 6.81%, Vizsla Silver up 6.80%, and Aya Gold & Silver up 6.11%. The company recently completed the sale of its San Martin silver mine for $90 million, optimizing its asset portfolio to focus on core mining operations. On the earnings front, First Majestic reported Q2 adjusted EPS of $0.21, missing analyst estimates of $0.25 to $0.30, though strong silver prices continue to provide underlying support for the stock.

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