First Majestic Silver

First Majestic Silver is engaged in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico.
  • TickerFR.
  • ISINCA32076V1031
  • ExchangeToronto Stock Exchange
  • SectorMining
  • CountryCanada
Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Round Trip Back To Resistance Our base case continues to be for near-term consolidation while the market determines the implications of states' reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Below we highlight new developments which remain generally positive. Still, many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. · Short-Term Levels. The S&P 500 is at the upper-end of ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Remains In Favor; Shanghai Comp Breaking Out A weakening US dollar (DXY) continues to be a major tailwind for both EM equities and the commodity Sectors. Improving price and RS trends for these risk-on areas of the market are among the many characteristics consistent with historical bull markets. Therefore, we continue to label this a bull market and we believe global equities are still in the early innings of a broad-based advance. • EM Equities. Price action has remained weak for the US dollar (DXY), which has been great news for EM equities. As outlined in our 12/19/19 Int'l Compass an...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Weakening Dollar, Strengthening Commodities We continue to see increasingly more reasons to be bullish than not, and we believe the path of least resistance is higher for US equities. We also continue to recommend a “buy the dip” strategy. Below we outline new developments, including more signs that the US dollar is rolling over, bullish developments for gold & gold miners, and major breakouts for the Consumer Discretionary Sector. • Weak Dollar, Strong Commodity. The US dollar (DXY) continues to show signs of breaking down just as the Bloomberg Commodity Index (BCOM) makes a bullish inflect...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

S&P 500 consolidating despite negative signals We remain cautious as there continues to be several new or persisting negative signals which tell us that upside is likely to be muted from here -- barring improvements. At the same time we are not seeing widespread breakdowns and the major averages are still consolidating within a 1-month horizontal range. As long as this consolidation continues, a neutral outlook is appropriate. • Sector Relative Strength Rankings & Weighting Recommendations. Defensives (Staples, Utilities, Real Estate) notched new YTD RS highs yet again over the past week. Th...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Here we go again In last week's Compass we laid the case that markets were at a key inflection point heading into the first Fed rate cut in over a decade. Despite hawkish Fed takeaways, it was the escalation in the U.S.-China trade war that was the bigger story, however both weighed on global equities. Needless to say, everything we highlighted last week as being at a key inflection point failed to resolve in a manner that was bullish for equities. Below we highlight several developments we are watching which will help determine if the current pullback will be similar to what happened in May,...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Semiconductors, Transportation improving The S&P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter & Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we cont...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Round Trip Back To Resistance Our base case continues to be for near-term consolidation while the market determines the implications of states' reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Below we highlight new developments which remain generally positive. Still, many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. · Short-Term Levels. The S&P 500 is at the upper-end of ...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior