New York, Jan 12, 2026, 14:12 (EST) — Regular session
- First Majestic Silver shares climbed roughly 7% in afternoon trading, following a strong surge in silver prices.
- Funds shifted into the sector, pushing peer precious-metals miners higher.
- Tuesday’s U.S. inflation report stands as the next immediate test for rates and metals.
First Majestic Silver Corp’s shares climbed roughly 7% to close at $20.24 on Monday, gaining $1.33 amid a broader upswing in precious metals that boosted silver miners. Trading volume topped 20 million shares, with prices fluctuating between $19.70 and $20.60.
Silver surged to a record $86.22 an ounce before settling up 6.8% at $85.39, driven by renewed appetite for safe-haven assets amid market jitters. “Elevated uncertainty plays directly into the gold market,” said Michael Haigh, Societe Generale’s global head of commodities research. Meanwhile, Jupiter fund manager Ned Naylor-Leyland cautioned, “when silver captures flow, it really runs.” (Reuters)
That’s crucial for traders since miners often react more sharply than the metal itself. When prices rise, revenue jumps quickly, but most operating costs lag behind, causing earnings forecasts to shift rapidly.
The move wasn’t alone. Pan American Silver jumped roughly 3%, Hecla Mining surged close to 9%, Coeur Mining advanced about 7%, and Wheaton Precious Metals ticked up around 3% in that same session.
Rate forecasts have been volatile lately. JPMorgan abandoned its prediction for a January cut, now expecting the Fed’s next hike only in 2027. Other banks have also delayed their anticipated cuts, some pushing them into 2026, according to a Reuters report. (Reuters)
That same leverage that boosts gains can turn against miners just as fast. If silver prices slip—or if rates and the dollar surge—miners tend to fall hard, especially following a strong rally.
First Majestic, a Canadian miner, focuses on silver and gold production. Its portfolio includes operating mines like Los Gatos, Santa Elena, San Dimas, and La Encantada. The company also holds development and exploration assets, notably the Jerritt Canyon project in Nevada. (First Majestic Silver)
On Tuesday, Jan. 13 at 8:30 a.m. ET, the U.S. Consumer Price Index for December 2025 will drop—data that often shifts rate expectations and can quickly alter the mood around precious metals. The Federal Reserve’s following policy meeting is scheduled for Jan. 27-28. (Bls)
