First Majestic Silver Falls 15% After Q2 Miss

First Majestic Silver Corp AG shares are trading lower by $1.22 at $6.47 in Friday's session.

The catalyst for the decline is a Q2 EPS miss of 4 cents along with a revenue miss of nearly $7 million. Also, silver futures trading deeply in the red today have added to the stock's decline.

After a lower open, First Majestic Silver had an 8-cent bounce to $7.39 before continuing its move lower. It has continued to make new lows for the session, with the current one standing at $6.41.

That marks the lowest level for the stock since it put in a series of lows in the lower-$6.00 handle in late March and early April of 2016.