BUZZ-First Majestic Silver Corp: Hits highest in nearly 2 years

Wed May 11, 2016 11:10am EDT
 
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** Canadian silver producer's U.S.-listed shares up 6.9 pct at $10.56; Toronto-traded stock up 6.7 pct at C$13.60

** U.S stock rises to nearly 2-year high of $10.86

** Company posts higher-than-expected Q1 revenue on increased production

** "With a strengthened balance sheet we expect FR to be more aggressive towards exploration and development expenditures, and consider some growth initiatives across its suite of assets," Raymond James analysts write

** Up to Tuesday's close, U.S. stock had risen nearly 97 pct in past 12 months