On September 1, First Majestic Silver fell 5.05% in pre-market trading, trading at $19.56 per share, with turnover of $4.54 million.

The decline tracks a broad selloff in silver, with spot silver dropping approximately 2.75% to around $64.70 per ounce on the session. Hawkish signals from the Federal Reserve, including remarks by Fed Chair Kevin Warsh at the Jackson Hole summit acknowledging the Fed still has \"work to do\" on controlling prices, fueled expectations of prolonged higher interest rates. Rising Treasury yields and a strengthening U.S. dollar further triggered speculative liquidations and profit-taking in precious metals.

Within the Silver sector, the overall sector weakened sharply. Among individual stocks, Hecla Mining fell 4.76%, Endeavour Silver fell 5.23%, Vizsla Silver Corp fell 2.96%, Silvercorp Metals fell 4.26%, and Aya Gold & Silver Inc fell 5.69%.

Adding to company-specific headwinds, First Majestic Silver reported Q2 adjusted EPS of $0.21 on July 30, missing the consensus estimate of $0.30 by 30%, while revenue of $415.5 million also fell short of the $496.0 million estimate.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)