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FIRST MAJESTIC SILVER CORP - AG STOCK NEWS

Welcome to our dedicated page for FIRST MAJESTIC SILVER news (Ticker: AG), a resource for investors and traders seeking the latest updates and insights on FIRST MAJESTIC SILVER stock.

First Majestic Silver Corp. (NYSE: AG, TSX: AG, FSE: FMV) is a distinguished mining company focused on silver and gold production in North America, particularly in Mexico. The company boasts ownership of three prolific mines: the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine. First Majestic's operations extend to Northern Nevada with the Jerritt Canyon Gold Project, aligning with its aggressive development and acquisition strategy.

First Majestic's commitment to sustainable mining is reflected in its recent achievements. In Q4 2023, the company produced 6.6 million silver equivalent ounces, a 6% increase from the previous quarter, driven by remarkable production at Santa Elena. Their total 2023 production of 26.9 million AgEq ounces underscored resilience amidst challenges, notably at La Encantada due to water scarcity.

Environmentally and socially conscious, First Majestic improved its ESG score from 50.56 in 2022 to 31.0 in 2023, placing it in the top 38% of its industry peers. This was complemented by a robust safety record, with a Total Reportable Incident Frequency Rate (TRIFR) of 1.02 and Lost Time Incident Frequency Rate (LTIFR) of 0.34, marking significant improvements.

The company has also made strides in its operational infrastructure. The commissioning of its 100%-owned minting facility, First Mint, LLC, enables the production of investment-grade fine silver bullion. This initiative aims to integrate vertically into the bullion market, enhancing direct customer sales.

First Majestic's financial performance remains strong, with a cash and restricted cash balance of $229.3 million as of Q1 2024. The company continuously seeks to optimize its operations, reflected in its projected capital investments of $125.0 million for 2024, focusing on underground development, exploration, and property enhancements.

Looking ahead, First Majestic continues to prioritize exploration, with 188,500 meters of drilling planned for 2024. The company's vision of becoming a senior silver producer is supported by a solid foundation of development and the strategic expansion of its existing and new projects.

News

First Majestic Announces Financial Results for Q4 2023, FY2023, Quarterly Dividend Payment and Deferral of Silver Sales

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First Majestic Silver Corp. announces its consolidated financial results for the fourth quarter and year ended December 31, 2023. Highlights include 26.9 million silver equivalent ounces produced, $573.8 million in annual revenues, and $99.2 million in operating cash flows. The company reported a consolidated cash cost of $14.49 per AgEq ounce and an AISC of $20.16 per AgEq ounce. Adjusted net earnings were $(23.8) million or $(0.08) per share. In the fourth quarter, production increased to 6.6 million AgEq ounces, with revenues reaching $136.9 million. Operating cash flows improved to $36.3 million, and consolidated cash cost decreased to $13.01 per AgEq ounce. The company declared a cash dividend payment of $0.0048 per common share for the fourth quarter of 2023.
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First Majestic Reports Positive Exploration Results at San Dimas, Santa Elena and Jerritt Canyon Properties

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First Majestic Silver Corp. (AG) announces positive drilling results from its 2023 exploration programs at San Dimas, Santa Elena, and Jerritt Canyon. The drilling programs were designed to test new silver and gold mineral targets, increase Mineral Resources, and convert Mineral Resources to Mineral Reserves. The company is very encouraged with the exploration results and expects to release updated Mineral Resource and Mineral Reserve estimates by the end of March.
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First Majestic Produces 6.6 Million AgEq Oz in Q4 2023 and 26.9 Million AgEq Oz in 2023; Announces 2024 Production and Cost Guidance and Conference Call Details

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First Majestic Silver Corp. (AG) announces that total production in Q4 2023 reached 6.6 million AgEq ounces, a 6% increase from the previous quarter. Santa Elena achieved a record production of 3.0 million AgEq ounces, while the ESG score improved to 31.0 by the end of 2023. However, La Encantada's production was impacted by limited water supply, resulting in a 9% decrease in silver production compared to the prior quarter.
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First Majestic Reports Third Quarter Financial Results and Quarterly Dividend Payment

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First Majestic Silver Corp. announces unaudited Q3 2023 financial results. Highlights include production of 6.3 million silver equivalent ounces, quarterly revenues of $133.2 million, and adjusted net earnings of ($10.93) million. Cash and restricted cash balance at the end of the quarter was $257.3 million. A cash dividend payment of $0.0046 per common share was declared for Q3 2023.
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First Majestic Produces 6.3 Million AgEq Oz in Q3 2023 Consisting of 2.5 Million Silver Ounces and 46,720 Gold Ounces

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First Majestic Silver Corp. announces Q3 2023 production results, meeting 75% of guidance midpoint.
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First Majestic Announces the Opening of a Minting Facility

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First Majestic Silver Corp. launches its own minting facility, First Mint, LLC, to increase bullion sales and reduce production costs.
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First Majestic Announces Closing Sale of La Parrilla

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First Majestic Silver Corp. has completed the sale of its La Parrilla Silver Mine to Golden Tag Resources Ltd. for CDN$27.0 million or US$20.0 million. First Majestic received 143,673,684 common shares of Golden Tag as part of the sale and will receive up to US$13.5 million in milestone payments. Additionally, First Majestic purchased 18,009,000 Subscription Receipts of Golden Tag, which have now converted into common shares and warrants.
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First Majestic Reports Second Quarter Financial Results and Quarterly Dividend Payment

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First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) announces unaudited Q2 2023 financial results, including a 17% decrease in silver equivalent ounces production and a 7% decrease in quarterly revenues. Operating cash flows increased by 23% compared to the previous quarter. The company also declared a cash dividend payment of $0.0051 per common share for the second quarter of 2023.
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First Majestic Produces 6.3 million AgEq Oz in Q2 2023 Consisting of 2.6 million Silver Ounces and 45,022 Gold Ounces; Announces Updated 2023 Guidance and Management Update

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First Majestic Reports High-Grade Exploration Results at San Dimas, Santa Elena and Jerritt Canyon

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FAQ

What is the current stock price of FIRST MAJESTIC SILVER (AG)?

The current stock price of FIRST MAJESTIC SILVER (AG) is $5.51 as of December 23, 2024.

What is the market cap of FIRST MAJESTIC SILVER (AG)?

The market cap of FIRST MAJESTIC SILVER (AG) is approximately 1.7B.

What are the core operations of First Majestic Silver Corp.?

First Majestic Silver Corp. focuses on the production, development, exploration, and acquisition of mineral properties, emphasizing silver and gold production. It operates three primary mines in Mexico and the Jerritt Canyon Gold Project in Nevada.

What were the key achievements of First Majestic Silver Corp in 2023?

In 2023, First Majestic reported a total production of 26.9 million AgEq ounces. Significant achievements include a 6% production increase in Q4, improvements in ESG scores, a strong safety record, and the commissioning of the First Mint, LLC.

How does First Majestic Silver Corp. ensure sustainability in its operations?

First Majestic emphasizes sustainable practices, evident from its improved ESG score. The company also focuses on reducing environmental impact with state-of-the-art equipment at its minting facility that requires less electricity and produces no gas emissions.

What are the financial highlights of First Majestic Silver Corp.?

As of Q1 2024, First Majestic held a cash and restricted cash balance of $229.3 million. The company generated $573.8 million in annual revenues for 2023 and has set a capital investment budget of $125.0 million for 2024.

What are the future exploration plans of First Majestic Silver Corp.?

For 2024, First Majestic plans to undertake 188,500 meters of exploration drilling, focusing on expanding resources at existing mines and identifying new mineralized zones.

What is the objective of the newly launched First Mint, LLC?

First Mint, LLC aims to produce investment-grade fine silver bullion, allowing First Majestic to sell a larger portion of its silver production directly to customers, thereby enhancing its market presence and vertical integration.

What safety measures does First Majestic Silver Corp. implement?

First Majestic maintains stringent safety protocols, reflected in its improved Total Reportable Incident Frequency Rate (TRIFR) of 1.02 and Lost Time Incident Frequency Rate (LTIFR) of 0.34 in 2023, showcasing a 16% and 33% improvement, respectively.

How did First Majestic Silver Corp. perform in Q1 2024?

In Q1 2024, First Majestic produced 5.2 million AgEq ounces, including 2.0 million ounces of silver and 35,936 ounces of gold. The company also identified a significant new water source at La Encantada, anticipating improved ore throughput rates by Q3 2024.

What is the significance of First Majestic Silver Corp.'s ESG score improvement?

First Majestic's ESG score improvement from 50.56 in 2022 to 31.0 in 2023 places the company in the top 38% of its industry peers, highlighting its commitment to environmental, social, and governance best practices.

How does First Majestic Silver Corp. engage with its shareholders?

First Majestic actively engages with shareholders through regular updates, detailed financial reports, and annual meetings. The company also offers a Shareholder Benefits program, providing savings on silver purchases for shareholders with at least 100 shares.

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FIRST MAJESTIC SILVER CORP

NYSE:AG

AG Rankings

#2104 Ranked by Market Cap
#2070 Ranked by Dividends

AG Stock Data

1.66B
296.63M
1.46%
43.18%
12.09%
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