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About

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties in North America. The company explores for silver and gold deposits. Its projects include the San Dimas silver/gold mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena silver/gold mine that covers an area of approximately 102,244 hectares located in Sonora State, Mexico; the Los Gatos Silver Mine covering an area of approximately 103,000 hectares located in Chihuahua, Mexico; and the La Encantada silver mine that covers an area of approximately 4,076 hectares located in Coahuila State, Mexico. The company was formerly known as First Majestic Resource Corp. and changed its name to First Majestic Silver Corp. in November 2006. First Majestic Silver Corp. was incorporated in 1979 and is headquartered in Vancouver, Canada.

Fundamentals
Scroll to Statements
Sector Basic Materials Industry Silver Market Cap 14.46B
Enterprise Value 14.30B Income 164.92M Sales 1.26B
Book/sh 5.62 Cash/sh 1.98 Dividend Yield 8.00%
Payout 5.94% Employees — IPO —
P/E 86.50 Forward P/E 26.74 PEG —
P/S 11.50 P/B 5.23 P/C —
EV/EBITDA 23.41 EV/Sales 11.37 Quick Ratio 2.39
Current Ratio 2.60 Debt/Eq 9.73 LT Debt/Eq —
EPS (ttm) 0.34 EPS next Y 1.10 EPS Growth —
Revenue Growth 169.20% Earnings 2026-05-06 ROA 6.87%
ROE 9.33% ROIC — Gross Margin 55.15%
Oper. Margin 48.96% Profit Margin 13.12% Shs Outstand 491.32M
Shs Float 487.66M Short Float — Short Ratio 0.81
Short Interest — 52W High 30.15 52W Low 5.09
Beta 1.53 Avg Volume 24.69M Volume 19.31M
Target Price $26.50 Recom Buy Prev Close $29.51
Price $29.41 Change -0.34%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$26.50
Mean price target
2. Current target
$29.41
Latest analyst target
3. DCF / Fair value
$18.43
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$29.41
Low
$23.00
High
$30.00
Mean
$26.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-20 main HC Wainwright & Co. Buy → Buy $30
2026-01-26 main Scotiabank Sector Perform → Sector Perform $23
2026-01-16 main HC Wainwright & Co. Buy → Buy $25
2025-10-23 main Scotiabank Sector Perform → Sector Perform $13
2025-10-10 main HC Wainwright & Co. Buy → Buy $18
2025-10-06 main HC Wainwright & Co. Buy → Buy $14
2025-08-15 reit HC Wainwright & Co. Buy → Buy $13
2025-07-10 main HC Wainwright & Co. Buy → Buy $13
2025-07-09 main Scotiabank Sector Perform → Sector Perform $7
2025-05-09 main HC Wainwright & Co. Buy → Buy $12
2025-02-21 reit HC Wainwright & Co. Buy → Buy $11
2025-01-15 main Scotiabank Sector Perform → Sector Perform $6
2025-01-10 reit HC Wainwright & Co. Buy → Buy $11
2024-10-18 reit HC Wainwright & Co. Buy → Buy $9
2024-09-06 reit HC Wainwright & Co. Buy → Buy $9
2024-08-02 reit HC Wainwright & Co. Buy → Buy $9
2024-07-19 reit HC Wainwright & Co. Buy → Buy $9
2024-05-23 main Scotiabank Sector Perform → Sector Perform $7
2024-05-09 reit HC Wainwright & Co. Buy → Buy $9
2024-04-19 main HC Wainwright & Co. Buy → Buy $9

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Insider Transactions

No recent insider transactions.

Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-2.82M-39.62M543.60K-2.51M
TaxRateForCalcs0.150.310.260.27
NormalizedEBITDA133.26M73.32M86.87M165.56M
TotalUnusualItems-18.78M-127.81M2.07M-9.47M
TotalUnusualItemsExcludingGoodwill-18.78M-127.81M2.07M-9.47M
NetIncomeFromContinuingOperationNetMinorityInterest-101.89M-135.11M-114.28M-4.92M
ReconciledDepreciation125.49M126.17M137.41M118.28M
ReconciledCostOfRevenue347.73M426.08M474.32M369.19M
EBITDA114.47M-54.50M88.95M156.09M
EBIT-11.02M-180.67M-48.46M37.80M
NetInterestIncome-13.21M-11.45M-11.87M-12.06M
InterestExpense15.44M15.25M12.94M12.55M
InterestIncome5.24M6.51M2.35M1.07M
NormalizedIncome-85.92M-46.92M-115.81M2.04M
NetIncomeFromContinuingAndDiscontinuedOperation-101.89M-135.11M-114.28M-4.92M
TotalExpenses558.09M633.04M678.46M540.44M
TotalOperatingIncomeAsReported-3.75M-178.78M-39.19M49.20M
DilutedAverageShares295.54M282.33M263.12M244.75M
BasicAverageShares295.54M282.33M263.12M244.75M
DilutedEPS-0.34-0.48-0.43-0.02
BasicEPS-0.34-0.48-0.43-0.02
DilutedNIAvailtoComStockholders-101.89M-135.11M-114.28M-4.92M
NetIncomeCommonStockholders-101.89M-135.11M-114.28M-4.92M
NetIncome-101.89M-135.11M-114.28M-4.92M
NetIncomeIncludingNoncontrollingInterests-101.89M-135.11M-114.28M-4.92M
NetIncomeContinuousOperations-101.89M-135.11M-114.28M-4.92M
TaxProvision75.43M-60.80M52.87M30.17M
PretaxIncome-26.45M-195.91M-61.40M25.25M
OtherIncomeExpense-18.78M-127.81M2.07M-9.47M
SpecialIncomeCharges0.00-142.34M6.95M-9.12M
GainOnSaleOfPPE0.00-3.02M4.30M
GainOnSaleOfBusiness0.00
OtherSpecialCharges4.64M
WriteOff0.007.23M0.000.00
ImpairmentOfCapitalAssets0.00125.20M-2.65M2.50M
RestructuringAndMergernAcquisition0.006.88M0.001.97M
GainOnSaleOfSecurity-18.78M14.52M-4.88M-357.00K
NetNonOperatingInterestIncomeExpense-13.21M-11.45M-11.87M-12.06M
TotalOtherFinanceCost3.01M2.71M1.28M580.00K
InterestExpenseNonOperating15.44M15.25M12.94M12.55M
InterestIncomeNonOperating5.24M6.51M2.35M1.07M
OperatingIncome5.54M-56.66M-51.61M46.78M
OperatingExpense86.36M82.30M68.36M54.64M
OtherOperatingExpenses33.28M30.41M18.03M15.28M
DepreciationAmortizationDepletionIncomeStatement1.49M1.51M1.63M1.67M
DepreciationAndAmortizationInIncomeStatement1.49M1.51M1.63M1.67M
DepreciationIncomeStatement1.49M1.51M1.63M1.67M
SellingGeneralAndAdministration51.60M50.38M48.70M37.68M
GeneralAndAdministrativeExpense51.60M50.38M48.70M37.68M
OtherGandA20.31M18.89M17.49M12.93M
SalariesAndWages31.29M31.49M31.21M24.75M
GrossProfit91.90M25.64M16.75M101.42M
CostOfRevenue471.73M550.74M610.10M485.81M
TotalRevenue563.63M576.38M626.85M587.23M
OperatingRevenue563.63M576.38M626.85M587.23M
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber301.86M287.15M274.49M260.05M
ShareIssued301.86M287.15M274.49M260.05M
NetDebt6.90M93.83M58.80M
TotalDebt237.02M256.51M247.94M221.09M
TangibleBookValue1.35B1.36B1.41B1.41B
InvestedCapital1.56B1.58B1.62B1.59B
WorkingCapital224.51M188.92M202.89M224.38M
NetTangibleAssets1.35B1.36B1.41B1.41B
CapitalLeaseObligations27.54M36.70M37.58M39.86M
CommonStockEquity1.35B1.36B1.41B1.41B
TotalCapitalization1.56B1.58B1.62B1.59B
TotalEquityGrossMinorityInterest1.35B1.36B1.41B1.41B
StockholdersEquity1.35B1.36B1.41B1.41B
GainsLossesNotAffectingRetainedEarnings90.03M88.03M98.91M98.94M
OtherEquityAdjustments98.94M
RetainedEarnings-717.06M-609.88M-468.90M-347.75M
CapitalStock1.98B1.88B1.78B1.66B
CommonStock1.98B1.88B1.78B1.66B
TotalLiabilitiesNetMinorityInterest628.72M618.24M698.71M714.02M
TotalNonCurrentLiabilitiesNetMinorityInterest484.41M498.10M531.31M541.20M
OtherNonCurrentLiabilities5.59M5.59M5.66M5.80M
TradeandOtherPayablesNonCurrent19.68M23.61M20.61M21.81M
NonCurrentDeferredLiabilities80.09M79.02M122.47M150.84M
NonCurrentDeferredTaxesLiabilities80.09M79.02M122.47M150.84M
LongTermDebtAndCapitalLeaseObligation219.98M238.31M233.57M209.14M
LongTermCapitalLeaseObligation11.32M19.33M23.76M28.04M
LongTermDebt208.66M218.98M209.81M181.11M
LongTermProvisions159.07M151.56M149.02M153.61M
CurrentLiabilities144.31M120.14M167.40M172.82M
OtherCurrentLiabilities16.28M
CurrentDeferredLiabilities580.00K2.30M3.38M12.23M
CurrentDeferredRevenue580.00K2.30M3.38M12.23M
CurrentDebtAndCapitalLeaseObligation17.04M18.20M14.38M11.95M
CurrentCapitalLeaseObligation16.21M17.37M13.83M11.82M
CurrentDebt426.00K426.00K431.00K69.00K
OtherCurrentBorrowings426.00K426.00K431.00K69.00K
CurrentProvisions709.00K1.46M3.57M3.28M
PayablesAndAccruedExpenses125.98M98.18M133.36M148.65M
CurrentAccruedExpenses41.89M41.77M40.46M32.37M
Payables84.09M56.41M92.90M116.28M
OtherPayable12.57M
TotalTaxPayable25.49M8.24M21.81M31.26M
IncomeTaxPayable22.79M5.22M18.24M27.98M
AccountsPayable58.59M48.16M71.09M72.45M
TotalAssets1.98B1.98B2.11B2.12B
TotalNonCurrentAssets1.61B1.67B1.74B1.73B
OtherNonCurrentAssets106.07M125.57M125.19M115.01M
NonCurrentPrepaidAssets5.72M6.43M6.00M10.95M
NonCurrentDeferredAssets46.38M88.73M57.06M74.26M
NonCurrentDeferredTaxesAssets46.38M88.73M57.06M74.26M
NonCurrentAccountsReceivable15.75M14.15M12.35M572.00K
NetPPE1.44B1.43B1.54B1.53B
AccumulatedDepreciation-611.07M-567.18M-491.60M-1.15B
GrossPPE2.05B2.00B2.03B2.68B
Leases7.05M8.52M8.42M8.30M
ConstructionInProgress43.32M48.74M73.93M90.45M
OtherProperties56.98M57.21M54.98M54.51M
MachineryFurnitureEquipment648.44M641.03M595.01M624.46M
LandAndImprovements257.81M245.26M237.25M244.96M
CurrentAssets368.82M309.06M370.29M397.21M
OtherCurrentAssets8.17M8.72M5.62M5.35M
AssetsHeldForSaleCurrent0.0072.73M0.00
RestrictedCash0.0012.57M
PrepaidAssets5.35M
Inventory62.52M63.69M64.76M60.61M
FinishedGoods43.17M42.73M42.76M14.53M
WorkInProcess4.16M7.54M9.18M6.41M
RawMaterials15.19M13.41M12.83M39.68M
Receivables46.17M48.69M41.22M54.26M
TaxesReceivable33.86M38.59M32.62M46.53M
AccountsReceivable12.30M10.10M8.60M7.73M
CashCashEquivalentsAndShortTermInvestments251.96M187.96M185.97M264.41M
OtherShortTermInvestments49.78M62.38M34.53M26.49M
CashAndCashEquivalents202.18M125.58M151.44M237.93M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow36.85M-90.37M-198.69M-120.24M
RepurchaseOfCapitalStock-271.00K0.00-665.00K-42.00K
RepaymentOfDebt-37.27M-15.24M-43.47M-221.13M
IssuanceOfDebt0.0050.00M252.78M
IssuanceOfCapitalStock93.90M92.09M113.39M66.67M
CapitalExpenditure-115.12M-145.98M-217.68M-188.97M
EndCashPosition202.18M125.58M151.44M237.93M
OtherCashAdjustmentOutsideChangeinCash0.005.22M-5.22M0.00
BeginningCashPosition125.58M151.44M237.93M238.58M
EffectOfExchangeRateChanges-3.62M2.66M-346.00K-439.00K
ChangesInCash80.22M-33.74M-80.92M-213.00K
FinancingCashFlow42.41M64.65M113.89M111.82M
CashFlowFromContinuingFinancingActivities42.41M64.65M113.89M111.82M
InterestPaidCFF-8.77M-8.47M-3.17M-4.33M
ProceedsFromStockOptionExercised116.00K2.13M4.66M21.79M
CashDividendsPaid-5.30M-5.87M-6.87M-3.93M
CommonStockDividendPaid-5.30M-5.87M-6.87M-3.93M
NetCommonStockIssuance93.63M92.09M112.73M66.63M
CommonStockPayments-271.00K0.00-665.00K-42.00K
CommonStockIssuance93.90M92.09M113.39M66.67M
NetIssuancePaymentsOfDebt-37.27M-15.24M6.53M31.65M
NetShortTermDebtIssuance-30.00M-40.00M
ShortTermDebtPayments-30.00M-40.00M
ShortTermDebtIssuance30.00M
NetLongTermDebtIssuance-37.27M-15.24M6.53M71.65M
LongTermDebtPayments-37.27M-15.24M-43.47M-181.13M
LongTermDebtIssuance0.0050.00M252.78M
InvestingCashFlow-114.16M-154.00M-213.80M-180.75M
CashFlowFromContinuingInvestingActivities-114.16M-154.00M-213.80M-180.75M
NetOtherInvestingChanges961.00K-2.62M3.88M9.16M
NetBusinessPurchaseAndSale0.00-5.40M0.00-948.00K
PurchaseOfBusiness0.00-5.40M0.00-948.00K
NetPPEPurchaseAndSale-20.02M-31.99M-59.70M-56.56M
PurchaseOfPPE-20.02M-31.99M-59.70M-56.56M
CapitalExpenditureReported-95.10M-113.99M-157.97M-132.41M
OperatingCashFlow151.97M55.61M18.99M68.72M
CashFlowFromContinuingOperatingActivities151.97M55.61M18.99M68.72M
TaxesRefundPaid-15.84M-24.66M-62.75M-76.53M
ChangeInWorkingCapital29.23M-18.92M-27.69M-31.50M
ChangeInOtherWorkingCapital19.50M-380.00K2.39M-48.01M
ChangeInPayablesAndAccruedExpense298.00K-5.66M-27.17M19.91M
ChangeInPayable298.00K-5.66M-27.17M19.91M
ChangeInAccountPayable2.82M-6.19M-22.75M16.58M
ChangeInTaxPayable-2.52M531.00K-4.43M3.33M
ChangeInIncomeTaxPayable-2.52M531.00K-4.43M3.33M
ChangeInPrepaidAssets552.00K-3.10M-316.00K-903.00K
ChangeInInventory2.27M-505.00K-3.45M-8.96M
ChangeInReceivables6.61M-9.27M862.00K6.45M
ChangesInAccountReceivables-1.51M-1.50M-870.00K-3.39M
OtherNonCashItems27.46M23.25M22.17M16.91M
StockBasedCompensation12.19M12.87M13.96M12.29M
UnrealizedGainLossOnInvestmentSecurities-119.00K-2.64M4.24M1.52M
AssetImpairmentCharge0.00132.43M-2.65M2.50M
DeferredTax75.43M-60.80M52.87M30.17M
DeferredIncomeTax75.43M-60.80M52.87M30.17M
DepreciationAmortizationDepletion125.49M126.17M137.41M118.28M
OperatingGainsLosses3.02M-4.30M-4.55M
GainLossOnInvestmentSecurities1.52M
NetForeignCurrencyExchangeGainLoss-6.07M
GainLossOnSaleOfPPE0.003.02M-4.30M
GainLossOnSaleOfBusiness0.00
NetIncomeFromContinuingOperations-101.89M-135.11M-114.28M-4.92M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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