Why First Majestic Silver Corp. (AG) Skyrocketed On Monday

Angelica Ballesteros

Mon, Jun 2, 2025, 11:23 PM 1 min read

We recently published a list of These 10 Stocks Blew Past Expectations. In this article, we are going to take a look at where First Majestic Silver Corp. (NYSE:AG) stands against other top-performing stocks on Monday.

First Majestic Silver grew its share prices by 11.51 percent on Monday to finish at $6.88 apiece as investors turned bullish on the company following its discovery of a new gold-silver deposit that could significantly raise its future production.

Last week, First Majestic Silver Corp. (NYSE:AG) announced the discovery of a new gold-silver deposit called Sto. Nino, one kilometer away from the Santa Elena mining property in Sonora, Mexico.

Additionally, it was able to raise the production of its Navidad deposit at the same site following the success of its drilling operations.

An open-pit mine framed by a mountain range, highlighting the company's vast mining concessions.

First Majestic Silver Corp. (NYSE:AG) said that the addition of Navidad and Sto. Nino raised the number of its hosted production sites to four, the others being Sta. Elena and Ermitano.

“The Santo Niño discovery marks yet another exciting milestone for the district, and the drilling shows the vein remains open for expansion in most directions. At the same time, step-out drilling at the Navidad Discovery continues to intercept exceptionally high-grade mineralization and expand the resource envelope,” said First Majestic Silver Corp. (NYSE:AG) President and CEO Keith Neumeyer.

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Disclosure: None. This article is originally published at Insider Monkey.