Why First Majestic Silver Corp. (AG) Surged On Thursday?

We recently published a list of These 10 Stocks Defied Thursday’s Slump. In this article, we are going to take a look at where First Majestic Silver Corp. (NYSE:AG) stands against other stocks that defied Thursday’s slump.

The stock market ended in the red territory anew on Thursday following a fresh wave of uncertainties and reports of a looming government shutdown that rattled investors.

The Dow Jones dropped by 1.30 percent, while the S&P 500 and Nasdaq declined by 1.39 percent and 1.96 percent, respectively.

Meanwhile, investors took refuge in 10 companies, predominantly mining firms, to mitigate the risks from the macroeconomic threats.

In this article, we have listed the 10 strongest stocks and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in trading volume.

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

First Majestic Silver Corp. (NYSE:AG)

First Majestic rallied by 8.79 percent on Thursday to end at $6.68 apiece as investors resorted to precious metal stocks for safety while cheering news of a former chief executive officer joining the board.

On Thursday, AG announced the addition of Daniel Muniz Quintanilla to its board of directors, effective immediately.

Quintanilla has more than 28 years of experience in international law, M&A, capital markets, and finance in the mining, logistics, and infrastructure industries. He is currently a board member of various companies, including Novagold Resources and Brookfield Infrastructure. He is also a founding partner of Axkan Capital Partners, director of Tharsis Mining, and director and special advisor to the chairman of both Sinda Ltd. and Sunshine Silver Mining & Refining Company.

He was also the director of Gatos Silver from April 2021 until AG acquired the company in January 2025.

Overall, AG ranks 2nd on our list of stocks that defied Thursday’s slump. While we acknowledge the potential of AG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AG but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

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