First Majestic Silver에 대한 매도 수량은 투자자에게 First Majestic Silver의 주식 하락에 베팅하는 정도를 알려줍니다. 매도 수량 데이터는 2주마다 업데이트됩니다.

First Majestic Silver (NYSE:AG) 주식, 공매도 수량 보고

First Majestic Silver

First Majestic Silver Corp is engaged in the production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. It owns three producing mines, in Mexico consisting of the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

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미국 연방준비제도(연준)가 9월 회의에서 금리를 인하할 것이라는 투자자들의 확신이 높아짐에 따라 금 가격은 화요일 온스당 2,460달러 이상으로 급등하고 이번 세션에서 1.7%의 강력한 상승세를 보이며 사상 최고치를 경신했다.

금 광산 ETF가 27개월 만에 최고치, 9월 금리 인하 기대로 금은 사상 최고가 경신

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금값은 온스당 2,300달러를 넘어 사상 최고치를 기록하며 또 한 주를 마감했다. 3월 일자리 보고서가 예상보다 더 뜨거워진 후에도 요는 여전히 높다.금은 이번 주 금리 우려에 대한 일반적인 민감도에서 벗어나 인상적인 회복력을 보였다.

금이 2,300달러를 웃돌며 다시 한 주를 최고치로 마감: 광산 주식은 11개월 최고치

First Majestic Silver Corp. Ordinary Shares (Canada)

First Majestic Silver Corp

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Vice President Kamala Harris has vowed to establish a national stockpile of critical minerals, citing their importance for economic and national security. This initiative forms part of her broader $100 billion industrial policy proposal, unveiled Wednesday, which includes various measures to strengthen the <a target="_blank" href="https://www.benzinga.com/topic/us-economy" rel="noreferrer noopener">U.S. economy</a>.
Harris's &#8220;America Forward&#8221; agenda aims to reduce the U.S. <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/04/38114381/critical-minerals-race-heats-up-us-eu-challenge-chinas-dominance" rel="noreferrer noopener">reliance on foreign sources</a>, particularly China, for these crucial resources. The strategy proposes new incentives, including tax credits, and potentially invoking the Defense Production Act to boost domestic processing capabilities.
As reported by Bloomberg, Kamala Harris&#8217; campaign stated that enhanced domestic production and other sustainable initiatives would strengthen critical mineral supply chains with allies and partners. This includes encouraging investments that boost the production of these resources in the U.S. and among allied countries.
Critical minerals, including lithium, cobalt, and rare earth elements, are essential for modern technology and defense applications. These materials are indispensable for producing electric vehicle batteries, semiconductors, and military equipment. China currently dominates the global processing of many minerals, posing a strategic vulnerability for the U.S. As demand for clean energy and advanced technology grows, securing a steady supply of these minerals has become a top priority.
President Biden's administration has already <a target="_blank" href="https://www.benzinga.com/markets/esg/24/03/37914506/bidens-475m-for-mining-aims-to-power-communities-hit-hardest-by-our-evolving-energy-landscape" rel="noreferrer noopener">made significant strides</a> in addressing this issue. Through initiatives like Executive Order 14017, Biden ordered a comprehensive review of critical mineral supply chains, leading to billions in investments to strengthen domestic capabilities. Since Biden took office, more than $120 billion has been committed to building battery and critical mineral supply chains, creating over 250,000 energy jobs, and ensuring future demand for essential materials like lithium and cobalt is met.
Despite these efforts, the U.S. mining sector still needs to overcome significant challenges. Domestic mining projects take <a target="_blank" href="https://www.benzinga.com/news/24/07/39870803/us-mine-development-delays-among-worlds-longest-second-only-to-zambia" rel="noreferrer noopener">nearly 29 years </a>to move from discovery to production, according to a study from S&amp;P Global published in July.
This timeline is significantly longer than in countries like Canada and Australia, where litigation risks and regulatory hurdles are much lower. These factors have slowed progress and discouraged private-sector investment in U.S. mining ventures.
Still, the push to increase domestic production of critical minerals has gained bipartisan support, as Republicans and Democrats recognize its strategic importance.
Thus, regardless of the outcome of the upcoming election, the U.S. will likely continue prioritizing critical mineral production, securing the nation's needs for the energy transition.
Read Next: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41038172/amid-resistance-from-harris-and-trump-nippon-steel-scores-favorable-arbitration-ruling-in-14-9b-" rel="noreferrer noopener">Amid Resistance From Harris And Trump, Nippon Steel Scores Favorable Arbitration Ruling In $14.9B US Steel Acquisition Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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Harris Vows To Push 'America Forward,' Stockpile Critical Minerals

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GATO

Gatos Silver Extends Cerro Los Gatos Mine Life To 2032, Increases Production Estimates By 36%, And Announces Acquisition By First Majestic Silver; Free Cash Flow Projected At $80M Annually With Significant Exploration And Growth Opportunities

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Hycroft Mining Holding Corporation - Class A Common Stock

HYMC

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent economic data.

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent inflation data.

Gold mining stocks, as tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), are enjoying a stellar rally, rising 4.3% by 11 a.m. ET, on track for its largest one-day <a href="https://www.benzinga.com/topic/mining">gain since early March.</a>
The rally in miners was driven by a surge in gold prices, which jumped 1.6% to reach an all-time high of over $2,550 per ounce on Thursday, fueled by economic data and central bank interest rate decisions.
In the U.S., the latest producer inflation report for <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40831982/producer-inflation-slows-to-1-7-yearly-in-august-jobless-claims-align-with-expect">August showed mixed results.</a> Both the headline and core Producer Price Index (PPI) exceeded monthly expectations, but on an annual basis, they fell short. 
The European Central Bank (ECB) reduced its deposit facility rate <a href="https://www.benzinga.com/government/24/09/40831961/european-central-bank-cuts-key-interest-rates-as-inflation-cools">by 25 basis points</a>, bringing it to 3.5%. The ECB noted it is "appropriate to take another step in moderating the degree of monetary policy restriction." 
This move has increased demand for gold as a safe-haven asset amid lower interest rates in Europe and expectations for a similar 25-basis-point drop in the U.S. fed funds rate next week. 
<h1 class="wp-block-heading">Analyst Takeaways</h1>
Otavio Costa, macro strategist at Crescat Capital, highlighted that Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), the second-largest gold miner globally, has reported its lowest annual gold production in more than 20 years. 
&#8220;From this perspective, today's environment closely resembles the 1970s,&#8221; Costa wrote in a post on social media platform X.
Back then low gold prices led major mining companies to shift their focus to other metals, just before gold experienced one of the most significant bull runs in history. 
Today, miners are once again diversifying into base metals, not due to low gold prices, but to capitalize on the growing demand for materials critical to electrification, like copper. 
However, this time the shift isn&#8217;t driven by low prices, but by a strategic move to increase exposure to base metals like copper, which are crucial for electrification and have attracted institutional capital. 
Costa argues that neglect of gold, in favor of base metals, is a potential opportunity. With fewer companies exploring and developing new gold projects, he sees several pathways for gold prices to rise, making gold-only investments particularly attractive.
However, Costa sees the limited supply as a bullish catalyst for gold, stating, "I believe it's time to be greedy when others are being fearful."
<h1 class="wp-block-heading">Thursday&#8217;s Seven Top Performing Gold Miners</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>NAME</td>
<td>% RETURN (1-DAY)</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>14.52</td>
</tr>
<tr>
<td>B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>)</td>
<td>10.04</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>9.96</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>9.94</td>
</tr>
<tr>
<td>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>)</td>
<td>8.09</td>
</tr>
<tr>
<td>OceanaGold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGC#NYSE">OGC</a>)</td>
<td>7.18</td>
</tr>
<tr>
<td>New Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>) </td>
<td>7.01</td>
</tr>
</tbody>
</table>
</figure>
Read Now:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40833654/gold-reaches-record-high-as-dollar-weakens-on-soft-producer-inflation-data-wall-street-eyes-four">Gold Reaches Record High As Dollar Weakens On Soft Producer Inflation Data; Wall Street Eyes Fourth Day Of Gains</a></li>
</ul>
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Gold Miners Eye Best 1-Day Rally In 6 Months As Gold Hits Fresh Record Highs: 'Today's Environment Closely Resembles The 1970s'

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates First Majestic Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>) with a Buy and maintains $8.5 price target.

Price Target

Reiteration

Analyst Ratings

HC Wainwright & Co. Reiterates Buy on First Majestic Silver, Maintains $8.5 Price Target

First Majestic Silver Corp. shares are trading lower after the company announced an agreement to acquire Gatos Silver.

First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)  has announced an all-stock acquisition of Gatos Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATO#NYSE">GATO</a>) valued at approximately $970 million. The transaction will bolster First Majestic&#8217;s position as a leading silver producer and expand its <a href="https://www.benzinga.com/topic/mexico">operations in Mexico</a>.
Under the agreement, Gatos shareholders will receive 2.55 shares of First Majestic for each share of Gatos held, translating to a total offer value of $13.49 per Gatos share. Based on the companies&#8217; recent stock prices, this represents a 16% premium, with Gatos shareholders set to own approximately 38% of First Majestic's shares on a fully diluted basis.
&#8220;The acquisition of Gatos Silver is a highly compelling and transformative transaction that meaningfully enhances First Majestic&#8217;s operating platform through the addition of 70% of Cerro Los Gatos—a high-quality, long-life, unencumbered, free cash flow generating asset in the mining-friendly state of Chihuahua, Mexico,&#8221; First Majestic's president and CEO, Keith Neumeyer said in an <a href="https://www.firstmajestic.com/investors/news-releases/first-majestic-announces-agreement-to-acquire-gatos-silver">announcement</a> noting operational synergies and potential to deliver significant value to shareholders.
Now read: <a href="https://www.benzinga.com/news/24/09/40726390/allied-gold-announces-an-agreement-with-malian-junta-shares-dip">Allied Gold Announces An Agreement With Malian Junta, Shares Dip</a>
Gatos Silver is a silver-focused mining company. Its most notable asset is a 70% stake in the Los Gatos Joint Venture (with Dowa Metals &amp; Mining), which operates the Cerro Los Gatos underground mine in Chihuahua, Mexico. The mine is the company's primary asset and one of the industry's highest-grade silver mines. Per the 2023 estimate, its reserves were around 96 million ounces of silver, with the potential for continued growth through further exploration.
With this deal, all three major silver-producing assets in Mexico will be under one banner: Cerro Los Gatos, San Dimas, and Santa Elena. The annual production is expected to be between 30 million and 32 million ounces of silver equivalent, including 15 million to 16 million ounces of pure silver.
The all-in-sustaining costs (AISC) are projected to be between $18 and $20 per silver-equivalent ounce, strengthening First Majestic&#8217;s production profile and operational efficiencies.
The deal also promises to bolster free cash flow generation, with Gatos expected to immediately contribute around $70 million annually to the combined entity. First Majestic sees additional upside through exploration, noting that the combined company's land package will cover approximately 350,000 hectares of highly prospective mining territory.
This potential includes 103,000 hectares at Cerro Los Gatos, which is unencumbered by material royalties or streams and offers significant discovery prospects. This land package will join First Majestic's existing 245,000 hectares across San Dimas, Santa Elena, and other properties, which have historically yielded strong exploration results.
The boards of both companies have unanimously approved the deal, and a special committee of independent directors from Gatos has also recommended it. Gatos' largest shareholder, the Electrum Group, which holds approximately 32% of the company's common shares, has signed a voting agreement to support the transaction. If all conditions are met, Gatos will become a wholly-owned subsidiary of First Majestic, and its shareholders will transition into becoming shareholders of First Majestic.
The transaction is expected to close in early 2025, pending regulatory and other approvals.
Now Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40707615/what-chinas-steelmaking-winter-means-for-iron-ore-coking-coal">What China&#8217;s Steelmaking &#8216;Winter&#8217; Means for Iron Ore, Coking Coal</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!

First Majestic Acquires Gatos Silver For $970M, Puts 3 Major Mexico Assets Under One Banner

Trading Ideas

First Majestic Silver Corp. Shares Resume Trade

First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/AG#TSX">AG</a>) (FSE:FMV) ("First Majestic") and Gatos Silver, Inc. ("Gatos") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATO#NYSE">GATO</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GATO#TSX">GATO</a>) are pleased to announce they have entered into a definitive merger agreement (the "Definitive Agreement") pursuant to which First Majestic will acquire all of the issued and outstanding common shares of Gatos (the "Transaction"). Gatos is a silver dominant producer with a 70% interest in the Los Gatos Joint Venture, which owns the producing Cerro Los Gatos underground silver mine in Chihuahua, Mexico. &nbsp;
Under the terms of the Definitive Agreement, Gatos shareholders will receive 2.550 common shares of First Majestic for each common share of Gatos held. The consideration implies a total offer value of US$13.49 per common share of Gatos based on the closing price of First Majestic's common shares on the New York Stock Exchange (the "NYSE") on September 4, 2024, and represents a 16% premium based on each company's closing prices and 20-day volume weighted average prices ("VWAP") on the NYSE ending September 4, 2024. The proposed Transaction implies a total equity value for Gatos of approximately US$970 million. Following completion of the Transaction, existing Gatos shareholders will own approximately 38% of First Majestic shares on a fully-diluted basis.

TSX:AG

TSX:GATO

First Majestic Announces Agreement to Acquire Gatos Silver For $13.49/Share In Stock

The momentum in gold&#8217;s recent rally has lost much of its shine, <a href="https://www.benzinga.com/topic/gold">with the precious metal</a> unable to reach new record highs since Aug. 20, as U.S. Treasury yields stabilize and the dollar rebounds.
On Wednesday, gold traded at $2,505 per ounce, down 0.8% for the day, poised to break a<a href="https://www.benzinga.com/markets/commodities"> three-session winning streak.</a>
The dollar's recent surge, driven by positive catalysts, appears to be fading, prompting traders to take profits and reduce exposure to gold.
 Rate-cut expectations have not seen significant improvement, with speculators fully pricing in a September rate cut but assigning a 65% probability to a smaller 25-basis-point reduction, compared to 35% for a 50-basis-point cut, according to the CME FedWatch tool.
As the Federal Reserve&#8217;s rate cut expectations remained largely unchanged, Treasury yields stabilized, with the 10-year yield trading at 3.83% on Wednesday. Despite falling 67 basis points since early July, the yield hasn&#8217;t dropped below 3.75% since earlier this month, when a volatility event caused wild swings in equity and fixed income markets.
Geopolitical tensions in the Middle East, which have historically boosted safe-haven assets like gold, did not escalate into a broader conflict after recent exchanges between Israel and Hezbollah. This de-escalation has further diminished gold&#8217;s appeal.
The U.S. dollar index (DXY) was up 0.4% Wednesday, after closing Tuesday at the lowest levels since July 2023.
<h3 class="wp-block-heading">Wednesday&#8217;s Pullbacks In Gold Mining Stocks</h3>
The dip in gold prices has led to a more significant decline in gold mining stocks. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) both fell by 2.5%.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>1-day return (%)</td>
</tr>
<tr>
<td>Torex Gold Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NYSE">TXG</a>)</td>
<td>-4.89%</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>-4.75</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>-4.63</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>-4.56</td>
</tr>
<tr>
<td>OceanaGold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGC#NYSE">OGC</a>)</td>
<td>-4.47</td>
</tr>
<tr>
<td>Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)</td>
<td>-4.41</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
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<li><a href="https://www.benzinga.com/markets/24/08/40600134/investors-funnel-2-2b-into-these-5-real-estate-etfs-in-anticipation-of-fed-rate-cuts">Investors Funnel $2.2B Into These 5 Real Estate ETFs In Anticipation Of Fed Rate Cuts</a></li>
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Image created using artificial intelligence via Midjourney.

GDXJ

Gold Rally Loses Steam As Treasury Yields Stabilize, Dollar Rebounds: 6 Miner Stocks See Declines On Wednesday

First Majestic Silver Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ag#NYSE">AG</a>) announced that its total production reached 5.3 million silver equivalent (&quot;AgEq&quot;) ounces in the second quarter of 2024. The figure consists of 2.1 million silver ounces and 39,339 gold ounces.
On a sequential basis, silver production grew 7%, whereas gold production increased 9%. Overall silver equivalent ounces jumped 2% from the prior quarter. The rise was mainly driven by higher silver production at La Encantada and increased AgEq production at Santa Elena. However, this was partially offset by lower production at the San Dimas mine.
The Santa Elena gold mine generated 2.6 million AgEq ounces. This includes 3.77 million silver ounces and 27,176 gold ounces, marking increases of 6% and 25%, respectively, over the first quarter of 2024. The La Encantada mine produced 5.85 million silver ounces, a 28% increase from the previous quarter.
San Dimas generated 2.1 million AgEq ounces in the quarter. This includes 1.14 million silver ounces and 12,043 gold ounces, 2% and 11% quarter-over-quarter declines, respectively. The dip was led by a decrease in fresh ore processed, which is largely the outcome of First Magestic&#39;s continuing labor relation negotiations with unionized workers.
<h3>2024 Guidance</h3>
To reflect the pick-up in metal prices and upbeat production results in the second quarter, the company updated its 2024 outlook. The updated silver and gold price estimates for the second half of 2024 are $28.00 and $2,300 per ounce, respectively. It expects silver production of 8.9-9.5 million ounces compared with the prior mentioned 8.6-9.6 million ounces.
AG expects 2024 gold production between 150,000 and 158,000 ounces compared with the prior stated 150,000-167,000.
<h3>Price Performance</h3>
AG shares have lost 9.4% in the past year against the industry&#39;s growth of 38.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c0/71936.jpg?v=2101363664" />
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
First Majestic currently flaunts a Zacks Rank #1 (Strong Buy).
<h3>Some Peer Performances in Q2</h3>
Fortuna Mining Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fsm#NYSE">FSM</a>) reported gold equivalent production of 116,570 ounces in the second quarter of 2024. This reflects a 4% increase from the first quarter of 2024. Gold production was 92,716 ounces and silver production was 990,574 ounces, marking a 44% year-over-year increase and a 22% decrease, respectively.
FSM produced 13 million pounds of Zinc, down 7% from the second quarter of 2023. Lead production increased 3% year over year to 10.5 million pounds.
Endeavour Silver Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/exk#NYSE">EXK</a>) reported silver equivalent production of 2,156,453 ounces in the second quarter of 2024, down 5% year over year. EKX produced 1,312,572 ounces of silver in the quarter, down 12% from the second quarter of 2023. Gold production increased 7% year over year to 10,549 ounces.
Hecla Mining (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hl#NYSE">HL</a>) reported producing 4.5 million ounces of silver in the second quarter of 2024. This marked a 16% year-over-year improvement, reflecting a solid performance at Keno Hill. HL&#39;s gold production was up 6% at 37,324 ounces from the year-ago quarter, as improved results at Casa Berardi offset lower output at Greens Creek.
Hecla Mining produced 7.9 million ounces of silver in the first half of 2024. It believes that it is on track to produce 17 million ounces of silver in 2024.
<a href="https://www.zacks.com/stock/news/2305538/first-majestic-ag-q2-silver-production-rises-sequentially?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2305538">To read this article on Zacks.com click here.</a>

Penny Stocks

Markets

First Majestic Q2 Silver Production Rises Sequentially

Gold reached new all-time highs Tuesday, with the commodity soaring above $2,460 per ounce and showcasing a robust 1.7% gain for the session, driven by heightened investor convictions that the Fed will cut interest rates <a href="https://www.benzinga.com/federal-reserve">at its September meeting</a>.
Jerome Powell&#8216;s remarks during his<a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39779256/powell-praises-latest-inflation-progress-hints-at-imminent-rate-cuts-warns-hes-ve"> interview at the Economic Club of Washington</a> Monday appear to have dispelled the last doubts about the start of rate cuts after the Fed chair confidently welcomed the latest inflation reports for the second quarter.
"We've had now three better readings. And if you average them, it's a pretty good pace," Powell said. He further hinted the Fed would be willing to act by lowering interest rates if labor market conditions unexpectedly weaken.
Fed futures indicate traders are fully pricing in a rate cut at the September meeting, placing 93.3% odds of a 25-basis-point cut and a marginal 6.7% chance on a larger 50-basis-point cut, according to the CME Group&#8216;s FedWatch tool.
Yields on the 10-year Treasury note dropped by 7 basis points Tuesday to 4.16%, eyeing the lowest close since mid-March. The rise in gold and the reduction in Treasury yields spurred a rally in gold mining stocks.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) soared by 3.3% on Tuesday, achieving its highest level since April 21, 2022. Its rally since the lows of February 2024 has now extended to 55%.
<h3 class="wp-block-heading">Chart: Gold Mining ETF Reaches Levels Unseen In 27 Months </h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="496" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16150319/image-24-1024x496.png" alt="" class="wp-image-439337" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16150319/image-24-1024x496.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16150319/image-24-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16150319/image-24-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16150319/image-24-1536x744.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16150319/image-24.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071724&amp;t=be2bearmibe3na1">Benzinga Pro</a> 
<h3 class="wp-block-heading">Bank Of America Predicts Strong Gold Miner Earnings</h3>
&#8220;With the sharp and sustained move higher in gold prices, we think that there will be an increased focus on capital allocation in the sector,&#8221; wrote Bank of America analyst Lawson Winder. 
Winder suggested that companies in the mining sector might increase dividends or buy back shares to boost stock value. 
He emphasizes the importance of second-quarter guidance updates, noting that positive guidance can lead to substantial outperformance.
Winder also expects a focus on organic production growth and potential acquisitions, especially given the slowdown in corporate acquisition activity and the availability of assets for sale following Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)&#8217;s acquisition of Newcrest Mining.
<h3 class="wp-block-heading">Tuesday&#8217;s Movers Among Gold Miners</h3>
Tuesday&#8217;s leading performers within the VanEck Gold Miners ETF were:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Security Name</td>
<td>1-day Return (%)</td>
</tr>
<tr>
<td>Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>)</td>
<td>14.44</td>
</tr>
<tr>
<td>DRDGOLD Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRD#NYSE">DRD</a>)</td>
<td>10.51</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>5.19</td>
</tr>
<tr>
<td>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>)</td>
<td>5.01</td>
</tr>
<tr>
<td>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</td>
<td>4.60</td>
</tr>
</tbody>
</table>
</figure>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39800465/us-economy-cools-down-europe-heats-up-international-monetary-fund-flags-sticky-infl">US Economy Cools Down, Europe Heats Up: International Monetary Fund Flags Sticky Inflation, Worrisome National Debt</a></li>
</ul>
Photo via Shutterstock.

Gold Miners Hit 27-Month Peak, Bullion Breaks Record As Traders Decide September Rate Cut As Good As Done

RGLD

Shares of precious metals stocks are trading lower amid a drop in gold and silver following US economic data.

SBSW

SSRM

Shares of precious metals companies are trading lower amid a drop in the price of gold and silver.

Shares of precious metals stocks are trading higher amid strength in gold and silver.

Scotiabank analyst Ovais Habib maintains First Majestic Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>) with a Sector Perform and raises the price target from $5.5 to $6.5.

Scotiabank Maintains Sector Perform on First Majestic Silver, Raises Price Target to $6.5

Investors with a lot of money to spend have taken a bearish stance on First Majestic Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AG, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 12 uncommon options trades for First Majestic Silver.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $293,911, and 9 are calls, for a total amount of $307,676.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $10.0 for First Majestic Silver over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of First Majestic Silver stands at 9348.38, with a total volume reaching 18,625.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in First Majestic Silver, situated within the strike price corridor from $5.0 to $10.0, throughout the last 30 days.
<h3>First Majestic Silver Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1716316277_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$2.03</td>
<td>$1.8</td>
<td>$1.8</td>
<td>$7.00</td>
<td>$107.1K</td>
<td>2.3K</td>
<td>1.9K</td>
</tr>
<tr>
<td>AG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$1.8</td>
<td>$1.8</td>
<td>$1.8</td>
<td>$7.00</td>
<td>$105.3K</td>
<td>2.3K</td>
<td>1.3K</td>
</tr>
<tr>
<td>AG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.35</td>
<td>$0.34</td>
<td>$0.34</td>
<td>$5.00</td>
<td>$81.4K</td>
<td>8.2K</td>
<td>2.5K</td>
</tr>
<tr>
<td>AG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/31/24</td>
<td>$0.97</td>
<td>$0.85</td>
<td>$0.97</td>
<td>$7.00</td>
<td>$48.5K</td>
<td>373</td>
<td>500</td>
</tr>
<tr>
<td>AG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/31/24</td>
<td>$0.88</td>
<td>$0.84</td>
<td>$0.89</td>
<td>$7.00</td>
<td>$44.5K</td>
<td>373</td>
<td>1.1K</td>
</tr>
</tbody>
</table>

<h3>About First Majestic Silver</h3>
First Majestic Silver Corp is engaged in the production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. It owns three producing mines, in Mexico consisting of the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.
Having examined the options trading patterns of First Majestic Silver, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of First Majestic Silver</h3>
<ul>
<li>Trading volume stands at 7,874,391, with AG's price down by -1.5%, positioned at $7.86.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 72 days.</li>
</ul>
<h3>Expert Opinions on First Majestic Silver</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $8.5.
<ul>
<li>Reflecting concerns, an analyst from HC Wainwright &amp; Co. lowers its rating to Buy with a new price target of $8.</li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for First Majestic Silver, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Smart Money Is Betting Big In First Majestic Silver Options

Warning: AG is at high risk of performing badly

First Majestic Silver to commence normal course issuer bid

First Majestic Silver (TSE:AG) has released an update. First Majestic Silver Corp. has launched a Share Repurchase Program, approved by the Toronto...

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