First Majestic Silver (AG) AI Stock Analysis

• Market Cap: $4.00B
• Dividend Yield: 0.32%
• Average Volume (3M): 1.31M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.95
• Revenue Growth: 38.49%
• EPS Growth: -77.99%
• Country: CA
• Employees: 4,000
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Silver
• EPS (TTM): 0.07
• Shares Outstanding: 484,638,200
• 10 Day Avg. Volume: 1,427,499
• 30 Day Avg. Volume: 1,309,605
• PEG Ratio: -1.86
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 55.50
• Enterprise Value/Market Cap: 0.65
• Enterprise Value/Revenue: 1.13
• Enterprise Value/Gross Profit: 16.71
• Enterprise Value/Ebitda: 5.50
• 1Y Price Target: $11.62
• Price Target Upside: 40.90% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 63 Neutral
• Price Target: C$8.50 ▲( 3.03% Upside)

First Majestic Silver's overall score reflects strong financial performance with revenue growth and cash flow improvements, yet challenges remain with profitability and valuation. Technical analysis indicates caution with bearish trends, while corporate events and earnings call provide a positive outlook with strategic advancements.

Positive Factors

Financial Performance

First Majestic's record financial results and strengthened liquidity position significantly improve its strategic flexibility.

Growth Potential

First Majestic is well-equipped to accelerate a wide array of growth initiatives based on its significant free cash flow generation.

Operational Efficiency

Operational improvements at San Dimas resulted in a strong quarter, with throughput exceeding forecasts by 22%.

Negative Factors

Commodity Price Risk

Risks include commodity price risk, operating and technical risks, political risk, and country-related risk.

Production Challenges

Lower silver grade at Encantada resulted in silver production of 561koz, which was 26% below the estimate.

Valuation Concerns

First Majestic shares are viewed as appropriately priced given its elevated relative valuation compared with peers, forming the basis of a Market Perform rating.

First Majestic Silver Business Overview & Revenue Model

Company Description

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México. 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.

How the Company Makes Money

First Majestic Silver generates revenue primarily through the sale of silver and, to a lesser extent, gold that it extracts from its mining operations. The company's key revenue streams come from its operating silver mines, including San Dimas, Santa Elena, and La Encantada, where silver is mined, processed, and then sold to various markets. Additionally, First Majestic benefits from its focus on cost-efficient mining processes and strategic acquisitions that enhance its production capacity. The company may also engage in hedging activities to manage the risks associated with fluctuating metal prices, although its primary income remains closely tied to the market prices of silver and gold.

First Majestic Silver Financial Statement Overview

Summary

First Majestic Silver shows strong revenue growth and improved cash flow management. However, ongoing net losses and negative ROE highlight areas needing improvement. The balance sheet is stable with reduced leverage and a solid equity base.

Income Statement

The income statement shows mixed results with strengths in revenue growth and gross profit margin. Total revenue increased from $563.6M to $703.1M TTM, indicating a solid growth trajectory. Gross profit margin improved to 22.2% in TTM from 16.3% in 2024. However, the company has been struggling with net losses over the past years, with a net loss of $82.1M in TTM, indicating challenges in cost management or market conditions. EBIT and EBITDA margins of 7.3% and 29.3% respectively in TTM suggest operational efficiency improvements, but negative net profit margin needs addressing.

Balance Sheet

The balance sheet reflects a stable financial position with a strong equity base. The debt-to-equity ratio improved to 0.10 in TTM from 0.17 in 2024, indicating a decrease in leverage. Return on Equity (ROE) remains negative due to ongoing net losses, pointing to challenges in generating returns for shareholders. The equity ratio of 60.0% in TTM suggests a solid asset base supported by equity, providing financial stability. The company appears well-positioned to meet its obligations with a cash reserve of $417.4M in TTM.

Cash Flow

Cash flow analysis shows positive trends with operating cash flow rising to $195.0M in TTM from $152.0M in 2024, indicating improved cash generation. Free cash flow grew substantially by 33.3% to $49.1M in TTM. The operating cash flow to net income ratio is strong, reflecting effective cash management despite net losses. However, the free cash flow to net income ratio is impacted by negative net income. Overall, the company demonstrates robust cash flow management, enhancing financial flexibility.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
703.06M	563.63M	576.38M	626.85M	587.23M	366.68M
	Gross Profit
156.03M	91.90M	25.64M	16.75M	101.42M	105.05M
	EBIT
51.00M	-3.75M	-178.78M	-50.54M	49.20M	40.36M
	EBITDA
206.31M	114.47M	-54.50M	88.95M	165.56M	105.02M
	Net Income Common Stockholders
-82.08M	-101.89M	-135.11M	-114.28M	-4.92M	23.09M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
417.38M	251.96M	187.96M	185.97M	264.41M	274.90M
	Total Assets
4.03B	1.98B	1.98B	2.11B	2.12B	1.24B
	Total Debt
234.37M	236.62M	256.51M	247.94M	221.09M	173.28M
	Net Debt
-116.94M	34.44M	130.93M	96.51M	-16.83M	-65.30M
	Total Liabilities
1.20B	628.72M	618.24M	698.71M	714.02M	387.28M
	Stockholders Equity
2.42B	1.35B	1.36B	1.41B	1.41B	850.24M
Cash Flow		Free Cash Flow
49.08M	36.85M	-90.37M	-198.69M	-120.24M	-34.78M
	Operating Cash Flow
195.03M	151.97M	55.61M	18.99M	68.72M	79.71M
	Investing Cash Flow
9.99M	-114.16M	-154.00M	-213.80M	-180.75M	-127.11M
	Financing Cash Flow
47.78M	42.41M	64.65M	113.89M	111.82M	116.57M

First Majestic Silver Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AG, the sentiment is Negative. The current price of 8.25 is below the 20-day moving average (MA) of 8.30, below the 50-day MA of 8.86, and below the 200-day MA of 8.49, indicating a bearish trend. The MACD of -0.19 indicates Negative momentum. The RSI at 48.00 is Neutral, neither overbought nor oversold. The STOCH value of 40.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:AG.

First Majestic Silver Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AG	63 Neutral	$4.00B	―	-4.57%	0.32%	38.49%	-77.99%
Sector *	50 Neutral	$2.00B	-1.02	-21.34%	3.70%	2.00%	-30.65%
FSM		$1.75B	11.22	12.07%	―	―	―
MAG		$1.91B	20.76	16.27%	0.97%	―	―
PAAS		$8.65B	27.75	6.56%	1.68%	―	―
AYA	61 Neutral	C$1.45B	152.08	-4.59%	―	88.60%	-684.16%
DSVSF		$1.63B	―	-24.80%	―	―	―

First Majestic Silver Corporate Events

First Majestic Announces AGM Results and New Board Appointment

First Majestic Silver Corp. announced the results of its 2025 Annual General Meeting, where shareholders voted in favor of all matters except the non-binding Say on Pay Advisory Vote. Ayesha Hira, a seasoned mining executive, was appointed to the Board of Directors, bringing extensive experience in the mining sector and capital markets. This appointment is expected to strengthen the company’s strategic growth and industry positioning.

The most recent analyst rating on (TSE:AG) stock is a Hold with a C$11.25 price target. To see the full list of analyst forecasts on First Majestic Silver stock, see the TSE:AG Stock Forecast page.

First Majestic Silver Announces 2025 AGM and Urges Shareholder Participation

First Majestic Silver Corp. has announced its upcoming Annual General Meeting (AGM) scheduled for May 20, 2025, in Vancouver, British Columbia. The company encourages shareholders to vote on the resolutions presented, with the Board of Directors recommending a ‘FOR’ vote on all resolutions. The meeting is significant for stakeholders as it involves decisions that could impact the company’s future operations and strategic direction. Shareholders are urged to participate either in person or through proxy voting, with assistance available from Kingsdale Advisors to facilitate the voting process.

The most recent analyst rating on (TSE:AG) stock is a Hold with a C$11.25 price target. To see the full list of analyst forecasts on First Majestic Silver stock, see the TSE:AG Stock Forecast page.

First Majestic Silver Reports Record Q1 2025 Financial Results

First Majestic Silver Corp. reported record financial results for Q1 2025, highlighting a historic cash position of $462.6 million and a significant increase in silver production by 88% year-over-year. The company achieved record quarterly revenue of $243.9 million, driven by strong silver sales, and improved its liquidity position to $544.4 million. These results underscore First Majestic’s robust operational performance and strategic positioning in the precious metals market, reflecting a positive outlook for stakeholders.

First Majestic Silver Achieves Record Mineral Reserves and Resources in 2024

First Majestic Silver Corp. announced significant increases in its 2024 Mineral Reserve and Mineral Resource estimates, marking a record milestone for the company. The strategic acquisition of Gatos Silver and a successful exploration program led to a 45% increase in Proven and Probable Reserves and a 25% increase in Measured and Indicated Resources. These developments enhance the company’s operational capacity and strengthen its position in the silver and gold mining industry.

First Majestic Silver Strengthens Board with New Appointment

First Majestic Silver Corp. has appointed Daniel Muñiz Quintanilla to its Board of Directors, bringing his extensive experience in international law, mergers and acquisitions, capital markets, and finance in the mining and infrastructure industries. This strategic move is expected to enhance First Majestic’s operations and relationships in Mexico, supporting its vision of becoming the leading primary silver company globally.