Shares of First Majestic Silver fell sharply on Friday following the latest earnings report.
The price of Silver was also down about 40 cents on the same day, back down into the low $16 range.
Clearly Friday was a bad day for silver investors, especially First Majestic Silver share holders.
As a shareholder I will be keeping a close eye on the share price, my first impression is that this could be a buying opportunity if this proves to be just a bad quarter, will have to see how the market reacts moving forward. Mining shares are volatile at the best of times and the latest earning report appears to have caught the market by surprise. Will be interesting to see what happens on Monday when the market opens, the share price has traded below $3.00 and over $18.00 in the past couple of years, closing at $6.24 on Friday. The share price did rally a little during after hours to $6.31