First Majestic (AG) Sheds 4% on Silver Drop, $350-Million Notes Issuance

2 weeks ago 9

We precocious published 10 Stocks Losing Their Fire. First Majestic Silver Corp. (NYSE:AG) is 1 of the worst performers connected Thursday.

First Majestic declined by 4.27 percent connected Thursday to adjacent astatine $15.02 apiece arsenic capitalist sentiment was dampened by plans to rise up to $350 cardinal successful caller funds from the issuance of convertible notes, portion besides digesting the driblet successful spot prices of metallic during the day.

During intra-day trading, the institution dropped by arsenic overmuch arsenic 5.4 percent.

As of writing, spot prices of metallic were down by 2.49 percent astatine $57.0298 per troy ounce, arsenic investors appeared to person taken profits pursuing past week’s surge.

First Majestic (AG) Sheds 4% connected Silver Drop, $350-Million Notes Issuance

In different developments, First Majestic Silver Corp. (NYSE:AG) officially kicked disconnected the issuance of convertible elder notes owed 2031 with an aggregate main magnitude of $300 cardinal and an overallotment enactment of up to $50 million.

Under the terms, the notes volition transportation a currency involvement of 0.125 percent per annum, payable semi-annually. Before the maturity date, noteholders volition person the enactment to person their notes.

First Majestic Silver Corp. (NYSE:AG) said that each $1,000 enactment volition beryllium convertible to 44.7227 communal shares, equivalent to an archetypal conversion terms of $22.36 apiece, oregon a premium of astir 42.50 percent implicit its closing terms of $15.69.

The connection is expected to adjacent connected Monday, December 8, taxable to customary closing conditions.

While we admit the imaginable of AG arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.

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