First Majestic Silver (FM.TO) gained 32.9% last week on a combination of factors. The Silver price has been soaring alongside Gold, attracting new interest to producers of either precious metal. Also, investors responded favorably to an earnings report and new resource estimates released by the company last week.
This combination of tailwinds enabled the stock to pop up from the red zone to the Green Favored Zone of the SIA S&P/TSX Composite Index Report and climb to its top rank in over three years. The shares finished on Friday in 13th position, up 90 spots last week and up 173 places over the last month.
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