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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 9.34B
Enterprise Value 9.09B Income 164.92M Sales 1.26B
Book/sh 5.62 Cash/sh 1.98 Dividend Yield 12.00%
Payout 5.94% Employees IPO
P/E 55.74 Forward P/E 17.31 PEG
P/S 7.43 P/B 3.37 P/C
EV/EBITDA 14.88 EV/Sales 7.23 Quick Ratio 2.39
Current Ratio 2.60 Debt/Eq 9.73 LT Debt/Eq
EPS (ttm) 0.34 EPS next Y 1.09 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 493.14M
Shs Float 487.54M Short Float Short Ratio 0.84
Short Interest 52W High 32.04 52W Low 5.19
Beta 1.97 Avg Volume 25.35M Volume 27.51M
Target Price $26.50 Recom Buy Prev Close $20.35
Price $18.95 Change -6.88%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$26.50
Mean price target
2. Current target
$18.95
Latest analyst target
3. DCF / Fair value
$18.37
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$18.95
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
Insider Transactions

No recent insider transactions.

Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems7.33M-2.82M-39.62M543.60K
TaxRateForCalcs0.150.150.310.26
NormalizedEBITDA625.73M133.26M73.32M86.87M
TotalUnusualItems48.90M-18.78M-127.81M2.07M
TotalUnusualItemsExcludingGoodwill48.90M-18.78M-127.81M2.07M
NetIncomeFromContinuingOperationNetMinorityInterest164.92M-101.89M-135.11M-114.28M
ReconciledDepreciation264.80M125.49M126.17M137.41M
ReconciledCostOfRevenue551.67M347.73M426.08M474.32M
EBITDA674.62M114.47M-54.50M88.95M
EBIT409.83M-11.02M-180.67M-48.46M
NetInterestIncome-3.80M-13.21M-11.45M-11.87M
InterestExpense14.80M15.44M15.25M12.94M
InterestIncome14.70M5.24M6.51M2.35M
NormalizedIncome123.36M-85.92M-46.92M-115.81M
NetIncomeFromContinuingAndDiscontinuedOperation164.92M-101.89M-135.11M-114.28M
TotalExpenses915.23M558.09M633.04M678.46M
TotalOperatingIncomeAsReported397.07M-3.75M-178.78M-39.19M
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
DilutedNIAvailtoComStockholders164.92M-101.89M-135.11M-114.28M
NetIncomeCommonStockholders164.92M-101.89M-135.11M-114.28M
NetIncome164.92M-101.89M-135.11M-114.28M
MinorityInterests-46.05M0.00
NetIncomeIncludingNoncontrollingInterests210.97M-101.89M-135.11M-114.28M
NetIncomeContinuousOperations210.97M-101.89M-135.11M-114.28M
TaxProvision184.05M75.43M-60.80M52.87M
PretaxIncome395.03M-26.45M-195.91M-61.40M
OtherIncomeExpense48.90M-18.78M-127.81M2.07M
SpecialIncomeCharges14.16M0.00-142.34M6.95M
GainOnSaleOfPPE0.00-3.02M4.30M
GainOnSaleOfBusiness0.00
OtherSpecialCharges-3.36M4.64M
WriteOff0.007.23M0.000.00
ImpairmentOfCapitalAssets-20.34M0.00125.20M-2.65M
RestructuringAndMergernAcquisition9.54M0.006.88M0.00
GainOnSaleOfSecurity34.74M-18.78M14.52M-4.88M
NetNonOperatingInterestIncomeExpense-3.80M-13.21M-11.45M-11.87M
TotalOtherFinanceCost3.70M3.01M2.71M1.28M
InterestExpenseNonOperating14.80M15.44M15.25M12.94M
InterestIncomeNonOperating14.70M5.24M6.51M2.35M
OperatingIncome349.93M5.54M-56.66M-51.61M
OperatingExpense100.11M86.36M82.30M68.36M
OtherOperatingExpenses31.21M33.28M30.41M18.03M
DepreciationAmortizationDepletionIncomeStatement1.36M1.49M1.51M1.63M
DepreciationAndAmortizationInIncomeStatement1.36M1.49M1.51M1.63M
DepreciationIncomeStatement1.36M1.49M1.51M1.63M
SellingGeneralAndAdministration67.55M51.60M50.38M48.70M
GeneralAndAdministrativeExpense67.55M51.60M50.38M48.70M
OtherGandA26.49M20.31M18.89M17.49M
SalariesAndWages41.05M31.29M31.49M31.21M
GrossProfit450.05M91.90M25.64M16.75M
CostOfRevenue815.11M471.73M550.74M610.10M
TotalRevenue1.27B563.63M576.38M626.85M
OperatingRevenue1.27B563.63M576.38M626.85M
Line Item2025-12-312024-12-312023-12-312022-12-31
OrdinarySharesNumber491.32M301.86M287.15M274.49M
ShareIssued491.32M301.86M287.15M274.49M
NetDebt6.90M93.83M58.80M
TotalDebt308.74M237.02M256.51M247.94M
TangibleBookValue2.76B1.35B1.36B1.41B
InvestedCapital3.05B1.56B1.58B1.62B
WorkingCapital733.56M224.51M188.92M202.89M
NetTangibleAssets2.76B1.35B1.36B1.41B
CapitalLeaseObligations16.52M27.54M36.70M37.58M
CommonStockEquity2.76B1.35B1.36B1.41B
TotalCapitalization3.05B1.56B1.58B1.62B
TotalEquityGrossMinorityInterest3.17B1.35B1.36B1.41B
MinorityInterest411.96M0.00
StockholdersEquity2.76B1.35B1.36B1.41B
GainsLossesNotAffectingRetainedEarnings243.80M90.03M88.03M98.91M
OtherEquityAdjustments98.94M
RetainedEarnings-561.98M-717.06M-609.88M-468.90M
CapitalStock3.08B1.98B1.88B1.78B
CommonStock3.08B1.98B1.88B1.78B
TotalLiabilitiesNetMinorityInterest1.52B628.72M618.24M698.71M
TotalNonCurrentLiabilitiesNetMinorityInterest1.06B484.41M498.10M531.31M
OtherNonCurrentLiabilities7.29M5.59M5.59M5.66M
TradeandOtherPayablesNonCurrent0.0019.68M23.61M20.61M
NonCurrentDeferredLiabilities570.96M80.09M79.02M122.47M
NonCurrentDeferredTaxesLiabilities570.96M80.09M79.02M122.47M
LongTermDebtAndCapitalLeaseObligation297.46M219.98M238.31M233.57M
LongTermCapitalLeaseObligation5.73M11.32M19.33M23.76M
LongTermDebt291.73M208.66M218.98M209.81M
LongTermProvisions187.10M159.07M151.56M149.02M
CurrentLiabilities459.14M144.31M120.14M167.40M
OtherCurrentLiabilities-1.00K16.28M
CurrentDeferredLiabilities592.00K580.00K2.30M3.38M
CurrentDeferredRevenue592.00K580.00K2.30M3.38M
CurrentDebtAndCapitalLeaseObligation11.28M17.04M18.20M14.38M
CurrentCapitalLeaseObligation10.79M16.21M17.37M13.83M
CurrentDebt151.00K426.00K426.00K431.00K
OtherCurrentBorrowings151.00K426.00K426.00K431.00K
CurrentProvisions590.00K709.00K1.46M3.57M
PayablesAndAccruedExpenses446.68M125.98M98.18M133.36M
CurrentAccruedExpenses81.28M41.89M41.77M40.46M
Payables365.39M84.09M56.41M92.90M
OtherPayable12.57M
TotalTaxPayable250.13M25.49M8.24M21.81M
IncomeTaxPayable239.36M22.79M5.22M18.24M
AccountsPayable115.26M58.59M48.16M71.09M
TotalAssets4.69B1.98B1.98B2.11B
TotalNonCurrentAssets3.50B1.61B1.67B1.74B
OtherNonCurrentAssets144.27M106.07M125.57M125.19M
NonCurrentPrepaidAssets6.46M5.72M6.43M6.00M
NonCurrentDeferredAssets80.39M46.38M88.73M57.06M
NonCurrentDeferredTaxesAssets80.39M46.38M88.73M57.06M
NonCurrentNoteReceivables5.00M5.00M
NonCurrentAccountsReceivable11.13M10.75M14.15M12.35M
NetPPE3.25B1.44B1.43B1.54B
AccumulatedDepreciation-673.42M-611.07M-567.18M-491.60M
GrossPPE3.93B2.05B2.00B2.03B
Leases5.02M7.05M8.52M8.42M
ConstructionInProgress85.08M43.32M48.74M73.93M
OtherProperties50.61M56.98M57.21M54.98M
MachineryFurnitureEquipment740.73M648.44M641.03M595.01M
LandAndImprovements366.91M257.81M245.26M237.25M
CurrentAssets1.19B368.82M309.06M370.29M
OtherCurrentAssets11.96M8.17M8.72M5.62M
AssetsHeldForSaleCurrent0.0072.73M0.00
RestrictedCash0.0012.57M
PrepaidAssets5.35M
Inventory84.75M62.52M63.69M64.76M
FinishedGoods62.24M43.17M42.73M42.76M
WorkInProcess3.67M4.16M7.54M9.18M
RawMaterials18.84M15.19M13.41M12.83M
Receivables122.16M46.17M48.69M41.22M
TaxesReceivable35.80M33.86M38.59M32.62M
AccountsReceivable86.36M12.30M10.10M8.60M
CashCashEquivalentsAndShortTermInvestments973.82M251.96M187.96M185.97M
OtherShortTermInvestments180.39M49.78M62.38M34.53M
CashAndCashEquivalents793.43M202.18M125.58M151.44M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow310.35M36.85M-90.37M-198.69M
RepurchaseOfCapitalStock-8.70M-271.00K0.00-665.00K
RepaymentOfDebt-232.88M-37.27M-15.24M-43.47M
IssuanceOfDebt340.49M0.000.0050.00M
IssuanceOfCapitalStock0.0093.90M92.09M113.39M
CapitalExpenditure-215.66M-115.12M-145.98M-217.68M
EndCashPosition793.43M202.18M125.58M151.44M
OtherCashAdjustmentOutsideChangeinCash0.005.22M-5.22M0.00
BeginningCashPosition202.18M125.58M151.44M237.93M
EffectOfExchangeRateChanges4.81M-3.62M2.66M-346.00K
ChangesInCash586.45M80.22M-33.74M-80.92M
FinancingCashFlow88.61M42.41M64.65M113.89M
CashFlowFromContinuingFinancingActivities88.61M42.41M64.65M113.89M
NetOtherFinancingCharges-41.19M
InterestPaidCFF-8.02M-8.77M-8.47M-3.17M
ProceedsFromStockOptionExercised48.75M116.00K2.13M4.66M
CashDividendsPaid-9.84M-5.30M-5.87M-6.87M
CommonStockDividendPaid-9.84M-5.30M-5.87M-6.87M
NetCommonStockIssuance-8.70M93.63M92.09M112.73M
CommonStockPayments-8.70M-271.00K0.00-665.00K
CommonStockIssuance0.0093.90M92.09M113.39M
NetIssuancePaymentsOfDebt107.61M-37.27M-15.24M6.53M
NetShortTermDebtIssuance-30.00M-40.00M
ShortTermDebtPayments-30.00M-40.00M
ShortTermDebtIssuance30.00M
NetLongTermDebtIssuance107.61M-37.27M-15.24M6.53M
LongTermDebtPayments-232.88M-37.27M-15.24M-43.47M
LongTermDebtIssuance340.49M0.000.0050.00M
InvestingCashFlow-28.18M-114.16M-154.00M-213.80M
CashFlowFromContinuingInvestingActivities-28.18M-114.16M-154.00M-213.80M
NetOtherInvestingChanges27.92M961.00K-2.62M3.88M
NetBusinessPurchaseAndSale159.56M0.00-5.40M0.00
SaleOfBusiness159.56M0.00
PurchaseOfBusiness0.00-5.40M0.00-948.00K
NetPPEPurchaseAndSale-67.10M-20.02M-31.99M-59.70M
PurchaseOfPPE-67.10M-20.02M-31.99M-59.70M
CapitalExpenditureReported-148.56M-95.10M-113.99M-157.97M
OperatingCashFlow526.01M151.97M55.61M18.99M
CashFlowFromContinuingOperatingActivities526.01M151.97M55.61M18.99M
TaxesRefundPaid-78.57M-15.84M-24.66M-62.75M
ChangeInWorkingCapital-62.64M29.23M-18.92M-27.69M
ChangeInOtherWorkingCapital-38.20M19.50M-380.00K2.39M
ChangeInPayablesAndAccruedExpense28.57M298.00K-5.66M-27.17M
ChangeInPayable28.57M298.00K-5.66M-27.17M
ChangeInAccountPayable38.96M2.82M-6.19M-22.75M
ChangeInTaxPayable-10.39M-2.52M531.00K-4.43M
ChangeInIncomeTaxPayable-10.39M-2.52M531.00K-4.43M
ChangeInPrepaidAssets2.71M552.00K-3.10M-316.00K
ChangeInInventory-319.00K2.27M-505.00K-3.45M
ChangeInReceivables-55.41M6.61M-9.27M862.00K
ChangesInAccountReceivables-55.12M-1.51M-1.50M-870.00K
OtherNonCashItems24.58M27.46M23.25M22.17M
StockBasedCompensation12.65M12.19M12.87M13.96M
UnrealizedGainLossOnInvestmentSecurities-9.49M-119.00K-2.64M4.24M
AssetImpairmentCharge-20.34M0.00132.43M-2.65M
DeferredTax184.05M75.43M-60.80M52.87M
DeferredIncomeTax184.05M75.43M-60.80M52.87M
DepreciationAmortizationDepletion264.80M125.49M126.17M137.41M
OperatingGainsLosses3.02M-4.30M-4.55M
GainLossOnInvestmentSecurities1.52M
NetForeignCurrencyExchangeGainLoss-6.07M
GainLossOnSaleOfPPE0.003.02M-4.30M
GainLossOnSaleOfBusiness0.00
NetIncomeFromContinuingOperations210.97M-101.89M-135.11M-114.28M
SEC Filings

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

Public Trades for AG
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status