First Majestic Drilling at Jerritt Canyon Points to Expanded Gold Resource Potential

First Majestic Silver ( (TSE:AG) ) has shared an update.

First Majestic Silver reported strong results from its 2025 exploration drilling program at the Jerritt Canyon Gold Mine in Nevada, where it completed about 18,300 metres of drilling across 57 holes. The campaign targeted both underground and near-surface open-pit potential, with notable gold intercepts at the Mahala, Javelin and Saval zones supporting the view that resources could be expanded using both mining methods.

Management said the program reaffirms confidence in Jerritt Canyon’s district-scale potential, aided by a more favourable metal price environment that justified broader testing of targets. The results, including significant intercepts in a 600-by-600-metre corridor between Mahala and Javelin, are presented as an important step toward growing mineral resources at the site and unlocking more value from the company’s large Nevada land package.

The most recent analyst rating on (TSE:AG) stock is a Buy with a C$48.00 price target. To see the full list of analyst forecasts on First Majestic Silver stock, see the TSE:AG Stock Forecast page.

Spark’s Take on TSE:AG Stock

According to Spark, TipRanks’ AI Analyst, TSE:AG is a Outperform.

The score is driven primarily by improved 2025 financial performance (profitability and free cash flow rebound with low leverage) and strong bullish technical trend signals. These positives are meaningfully offset by expensive valuation (very high P/E), which raises sensitivity to any earnings or commodity-cycle reversal.

To see Spark’s full report on TSE:AG stock, click here.

More about First Majestic Silver

First Majestic Silver Corp. is a North American precious metals producer primarily focused on silver and gold, with operations and exploration projects in established mining jurisdictions. The company’s Jerritt Canyon Gold Mine in Nevada is a key asset, where it is pursuing both underground and open-pit opportunities to expand its gold mineral resources and strengthen its position in the gold mining sector.

Average Trading Volume: 2,388,318

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$17.49B

Learn more about AG stock on TipRanks’ Stock Analysis page.