U.S. stocks fluctuated: First Majestic plunged on September 28 due to silver decline, interest rate hike expectations, and sector weakness.

First Majestic September 28 Drop Analysis

Keywords: Silver decline, rate hike expectations, sector weakness

1. On September 28, 2026, concerns over inflation driven by high oil prices and expectations of further rate hikes by the Federal Reserve led to a rise in the US dollar and US Treasury yields. Gold and silver prices came under pressure, and as a silver producer, First Majestic's profits and valuation are highly sensitive to silver prices.

2. On September 28, 2026, before the US stock market opened, the overall silver sector weakened, with First Majestic leading the decline, followed by peers such as Pan American Silver. Precious metal mining stocks were generally dragged down by the retreat in gold and silver prices.

3. On August 27, 2026, a company valuation analysis showed that the discounted cash flow value was only slightly higher than the current price, indicating the stock was overvalued. On September 21, 2026, the company's share price had nearly doubled compared to the previous year, and high valuation pressure increased the potential for a pullback.

(Disclaimer: This content was collected and summarized using AI technology from public information and is for reference only; it does not constitute investment advice.)