Amplify Junior Silver Miners ETF SILJ Returns 184% in 2025
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 20 2026
0mins
Source: Yahoo Finance
- Return Volatility: The Amplify Junior Silver Miners ETF (SILJ) achieved a remarkable 184% return in 2025, yet it plummeted 11% in just one week in March 2026 due to falling silver prices, highlighting the high volatility and risk associated with its returns.
- Top Holdings Performance: During the same week, SILJ's major holdings saw significant declines, with First Majestic Silver (AG) down 19%, Coeur Mining (CDE) down 10%, and Hecla Mining (HL) down 11%, collectively representing nearly a third of the fund, which severely impacted SILJ's performance.
- Structural Risks: Most silver is extracted as a byproduct of copper, lead, and zinc mining, meaning that SILJ's holdings are not primarily silver producers; thus, when silver prices rise, miners may fail to deliver the expected silver leverage, and conversely, they underperform when silver prices fall.
- Market Volatility Impact: With the VIX index reaching 23.5 in March 2026, up 14% from the previous month, elevated market volatility tends to compress risk appetite for speculative small-cap miners, leading to increased volatility in SILJ, necessitating cautious investor strategies in response to market fluctuations.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy AG?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on AG
Wall Street analysts forecast AG stock price to rise
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 20.680
Low
19.03
Averages
22.18
High
24.50
Current: 20.680
Low
19.03
Averages
22.18
High
24.50
About AG
First Majestic Silver Corp. is a mining company. The Company is focused on silver and gold production in Mexico and the United States. It owns and operates approximately 350,000 hectares of land package, which include the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine, and a 70% joint venture interest in the Cerro Los Gatos Silver Mine as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, United States. The San Dimas Silver/Gold Mine is located over 130 kilometers (km) northwest of the city of Durango, Durango State, Mexico. The Santa Elena Silver/Gold Mine is located over 150 km northeast of the city of Hermosillo, Sonora, Mexico. The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon. The Cerro Los Gatos Mine is located around 120 kms south of Chihuahua City, Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Meta Platforms Faces Legal Setbacks, Stock Drops Over 6%
- Meta Legal Setbacks: Meta Platforms' stock dropped over 6% following losses in two major legal cases concerning child safety, raising concerns about Big Tech's role in social media safety and free speech protections, despite relatively minor financial penalties.
- AppLovin's Decline: AppLovin's shares fell nearly 8% due to reports of weakening e-commerce spending trends, with insufficient new client momentum to offset churn in Q1, highlighting potential challenges in maintaining growth.
- Brown-Forman's Surge: Shares of Brown-Forman rose over 14% after Bloomberg reported that French spirits company Pernod Ricard is considering a bid, indicating strong market interest in the company's future acquisition potential.
- Pony AI's Expansion Plans: Pony AI's stock fell 13% after announcing ambitious robotaxi expansion plans alongside its first quarterly profit, but an 18% revenue drop due to project timing raises concerns about margin pressures despite doubling robotaxi revenue.
See More
Memory Stocks Plummet, Adobe Downgraded
- Memory Stock Decline: Shares of memory chipmakers fell sharply following Google's unveiling of a new AI model, with Sandisk dropping nearly 4% and Micron Technology, Western Digital, and Seagate Technology each declining about 2%, indicating significant memory demand pressures in the industry.
- Mining Stocks Drop: Shares of gold and silver miners fell alongside declining precious metal prices, with First Majestic Silver shedding about 5% and both Coeur Mining and Hecla Mining losing nearly 4%, reflecting a bearish sentiment in the precious metals market.
- Adobe Downgrade: Adobe's stock dipped 1.4% after William Blair downgraded it from outperform to market perform, highlighting uncertainty regarding its position as an AI winner or loser, which may impact investor confidence.
- Navan's Strong Guidance: Travel tech firm Navan soared 18% after guiding for strong revenue in 2027, expecting full-year revenue between $866 million and $874 million, exceeding market expectations, showcasing its robust growth potential in the industry.
See More
BMO Capital Upgrades First Majestic to Outperform with C$35 Target
- Rating Upgrade: BMO Capital has upgraded First Majestic Silver from Market Perform to Outperform with a C$35 price target, indicating that the shares are currently undervalued compared to historical trading multiples, which may attract more investor interest.
- Valuation Metrics: According to BMO's updated commodity price deck, First Majestic trades at 2.2x net asset value and 10x next-12-month cash flow, compared to historical multiples often exceeding 3x NAV and 15x cash flow, highlighting the attractiveness of its current valuation.
- Value Catalysts: The analyst pointed to
See More
Silver Prices Volatile, Mining Stocks Show Divergent Performance
- Price Volatility: Silver prices surged past $100 per ounce at the start of 2023 but faced a steep decline by the end of January, followed by a corrective phase in February driven by profit-taking and increased volatility in commodity markets, resulting in a year-to-date decline of 2.19%.
- Market Performance: Despite closing in the red for 14 out of 20 trading sessions, silver remains above $65 per ounce compared to the same period last year, indicating a relatively strong market foundation and reflecting investor expectations for a potential price rebound.
- Mining Stock Performance: Andean Precious Metals (ANPMF) recorded the highest year-to-date loss at 36.01%, while First Majestic Silver (AG) gained 15.25%, illustrating the divergent responses of mining stocks to silver price fluctuations, which could influence investors' asset allocation strategies.
- Quant Rating Discrepancies: Among mining stocks, First Majestic Silver boasts a quant rating of 3.40, indicating its relatively strong market performance, whereas Andean Precious Metals has a lower quant rating of 4.92, reflecting the challenges it faces and a lack of investor confidence.
See More
Key Wall Street Rating Updates from Tuesday
- Apple Services Strength: Evercore ISI reiterates Apple as outperform based on a survey of 3,500 smartphone users indicating continued strength in Apple Services like Apple TV, with both engagement and monetization trending higher, suggesting enhanced competitiveness in its services ecosystem.
- Ralph Lauren Brand Elevation: Citi upgrades Ralph Lauren from neutral to buy, citing management's brand elevation efforts that have driven strong performance, with a projected 6.5% sales CAGR and over 350bps EBIT margin expansion by FY26, indicating significant long-term growth potential.
- Ecolab Investment Opportunity: JPMorgan upgrades Ecolab from neutral to overweight, noting that the stock has declined since February 27 amid rising Middle East tensions, while the broader market is down 4%, suggesting a buying opportunity for investors anticipating a rebound.
- AI Infrastructure Market Outlook: Bank of America initiates coverage of Nebius Group with a buy rating and a $150 price target, highlighting the company's differentiated offering in the rapidly growing AI Infrastructure-as-a-Service market, expected to benefit from sustained demand for AI computing.
See More
Silver Mining Faces Sharp Volatility Amid Geopolitical Tensions
- Stock Price Plunge: First Majestic Silver Corporation's stock plummeted 19% this week, reducing its market cap to $9.3 billion, reflecting investor concerns over geopolitical tensions that have sharply decreased demand for precious metals.
- Market Reaction Unusual: Typically, investors flock to precious metals during geopolitical crises; however, the sudden outbreak of war in Iran has led to declines in both silver and gold prices, indicating market panic over future economic uncertainties.
- Inflationary Pressures Rise: The war has caused oil prices to surge, leading to inflationary pressures on the dollar, which may result in higher interest rates, thereby increasing costs for international investors purchasing precious metals and further suppressing demand.
- Investment Strategy Shift: Given the current high market uncertainty, First Majestic Silver's focus on silver exposes it to greater risks, prompting a recommendation for investors to consider more stable investment options to mitigate potential losses.
See More
Meta Platforms Faces Legal Setbacks, Stock Drops Over 6%
- Meta Legal Setbacks: Meta Platforms' stock dropped over 6% following losses in two major legal cases concerning child safety, raising concerns about Big Tech's role in social media safety and free speech protections, despite relatively minor financial penalties.
- AppLovin's Decline: AppLovin's shares fell nearly 8% due to reports of weakening e-commerce spending trends, with insufficient new client momentum to offset churn in Q1, highlighting potential challenges in maintaining growth.
- Brown-Forman's Surge: Shares of Brown-Forman rose over 14% after Bloomberg reported that French spirits company Pernod Ricard is considering a bid, indicating strong market interest in the company's future acquisition potential.
- Pony AI's Expansion Plans: Pony AI's stock fell 13% after announcing ambitious robotaxi expansion plans alongside its first quarterly profit, but an 18% revenue drop due to project timing raises concerns about margin pressures despite doubling robotaxi revenue.
See More
Memory Stocks Plummet, Adobe Downgraded
- Memory Stock Decline: Shares of memory chipmakers fell sharply following Google's unveiling of a new AI model, with Sandisk dropping nearly 4% and Micron Technology, Western Digital, and Seagate Technology each declining about 2%, indicating significant memory demand pressures in the industry.
- Mining Stocks Drop: Shares of gold and silver miners fell alongside declining precious metal prices, with First Majestic Silver shedding about 5% and both Coeur Mining and Hecla Mining losing nearly 4%, reflecting a bearish sentiment in the precious metals market.
- Adobe Downgrade: Adobe's stock dipped 1.4% after William Blair downgraded it from outperform to market perform, highlighting uncertainty regarding its position as an AI winner or loser, which may impact investor confidence.
- Navan's Strong Guidance: Travel tech firm Navan soared 18% after guiding for strong revenue in 2027, expecting full-year revenue between $866 million and $874 million, exceeding market expectations, showcasing its robust growth potential in the industry.
See More
BMO Capital Upgrades First Majestic to Outperform with C$35 Target
- Rating Upgrade: BMO Capital has upgraded First Majestic Silver from Market Perform to Outperform with a C$35 price target, indicating that the shares are currently undervalued compared to historical trading multiples, which may attract more investor interest.
- Valuation Metrics: According to BMO's updated commodity price deck, First Majestic trades at 2.2x net asset value and 10x next-12-month cash flow, compared to historical multiples often exceeding 3x NAV and 15x cash flow, highlighting the attractiveness of its current valuation.
- Value Catalysts: The analyst pointed to
See More
Silver Prices Volatile, Mining Stocks Show Divergent Performance
- Price Volatility: Silver prices surged past $100 per ounce at the start of 2023 but faced a steep decline by the end of January, followed by a corrective phase in February driven by profit-taking and increased volatility in commodity markets, resulting in a year-to-date decline of 2.19%.
- Market Performance: Despite closing in the red for 14 out of 20 trading sessions, silver remains above $65 per ounce compared to the same period last year, indicating a relatively strong market foundation and reflecting investor expectations for a potential price rebound.
- Mining Stock Performance: Andean Precious Metals (ANPMF) recorded the highest year-to-date loss at 36.01%, while First Majestic Silver (AG) gained 15.25%, illustrating the divergent responses of mining stocks to silver price fluctuations, which could influence investors' asset allocation strategies.
- Quant Rating Discrepancies: Among mining stocks, First Majestic Silver boasts a quant rating of 3.40, indicating its relatively strong market performance, whereas Andean Precious Metals has a lower quant rating of 4.92, reflecting the challenges it faces and a lack of investor confidence.
See More
Key Wall Street Rating Updates from Tuesday
- Apple Services Strength: Evercore ISI reiterates Apple as outperform based on a survey of 3,500 smartphone users indicating continued strength in Apple Services like Apple TV, with both engagement and monetization trending higher, suggesting enhanced competitiveness in its services ecosystem.
- Ralph Lauren Brand Elevation: Citi upgrades Ralph Lauren from neutral to buy, citing management's brand elevation efforts that have driven strong performance, with a projected 6.5% sales CAGR and over 350bps EBIT margin expansion by FY26, indicating significant long-term growth potential.
- Ecolab Investment Opportunity: JPMorgan upgrades Ecolab from neutral to overweight, noting that the stock has declined since February 27 amid rising Middle East tensions, while the broader market is down 4%, suggesting a buying opportunity for investors anticipating a rebound.
- AI Infrastructure Market Outlook: Bank of America initiates coverage of Nebius Group with a buy rating and a $150 price target, highlighting the company's differentiated offering in the rapidly growing AI Infrastructure-as-a-Service market, expected to benefit from sustained demand for AI computing.
See More
Silver Mining Faces Sharp Volatility Amid Geopolitical Tensions
- Stock Price Plunge: First Majestic Silver Corporation's stock plummeted 19% this week, reducing its market cap to $9.3 billion, reflecting investor concerns over geopolitical tensions that have sharply decreased demand for precious metals.
- Market Reaction Unusual: Typically, investors flock to precious metals during geopolitical crises; however, the sudden outbreak of war in Iran has led to declines in both silver and gold prices, indicating market panic over future economic uncertainties.
- Inflationary Pressures Rise: The war has caused oil prices to surge, leading to inflationary pressures on the dollar, which may result in higher interest rates, thereby increasing costs for international investors purchasing precious metals and further suppressing demand.
- Investment Strategy Shift: Given the current high market uncertainty, First Majestic Silver's focus on silver exposes it to greater risks, prompting a recommendation for investors to consider more stable investment options to mitigate potential losses.
See More
