First Majestic Q1 Output Tracks Guidance as Resource Growth Spurs Jerritt Canyon Restart

First Majestic Silver ( (TSE:AG) ) just unveiled an announcement.

First Majestic Silver reported first-quarter 2026 output of 3.5 million ounces of silver and 34,341 ounces of gold, alongside higher zinc, lead, and copper production from its four operating Mexican mines, tracking roughly a quarter of its full-year guidance. Slightly lower silver and gold volumes versus a year earlier were attributed to reduced cut-off grades in response to stronger metal prices, partly offset by a 48% surge in silver production at La Encantada.

The miner advanced an aggressive exploration and growth agenda, completing nearly 66,000 metres of drilling, announcing substantial increases in reserves and resources at its Mexican assets and Jerritt Canyon, and launching a restart plan for Jerritt Canyon targeting production in the second half of 2027. Management highlighted ongoing mill expansion at Santa Elena, throughput and recovery improvements at Los Gatos, and strong safety performance, underscoring a strategy aimed at scaling future production while maintaining best-in-class operational metrics.

The most recent analyst rating on (TSE:AG) stock is a Hold with a C$23.00 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 AG Stock

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

The score is driven primarily by improved 2025 financial performance and a constructive earnings-call outlook (strong cash, free-cash-flow momentum, and growth plans). Offsetting factors are a weaker near-term technical picture and a demanding P/E despite the high dividend yield.

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

More about First Majestic Silver

First Majestic Silver Corp. is a precious metals mining company focused on underground silver and gold operations in Mexico, with additional exposure to gold in the United States through its Jerritt Canyon project in Nevada. The company produces silver, gold, zinc, lead, and copper, and is positioning itself to benefit from a stronger metal price environment through mine expansions, exploration, and resource growth.

Average Trading Volume: 2,242,499

Technical Sentiment Signal: Buy

Current Market Cap: C$14.27B

See more data about AG stock on TipRanks’ Stock Analysis page.