Why First Majestic Silver Stock Rocketed Over 12% on July 22

Shares of silver and gold miner First Majestic Silver (NYSE: AG) were higher by an impressive 12% or so at roughly 1 p.m. EDT on July 22. The price jump followed a notable advance in the price of silver, which is conveniently included in the precious metals miner's name. Silver is very clearly an important metal for the company, but like most miners it doesn't only produce a single metal and is, thus, not a pure play on silver (despite what its name might imply).