First Majestic Silver
Operates four underground Mexican mines and sells fabricated silver through First Mint.
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Profile
Produces silver and gold from four underground mines in Mexico, including a majority-owned joint venture at Los Gatos. Direct bullion sales through First Mint extend the business into fabricated rounds, bars, and medallions.
Produces silver and gold from the Los Gatos, Santa Elena, San Dimas, and La Encantada underground mines in Mexico. Los Gatos also contributes zinc, lead, and copper by-products through a majority-owned joint venture.
Extends the value chain through First Mint, which fabricates and sells fine-silver rounds, bars, and medallions directly to retail buyers. Acquisition-led mine assembly and portfolio reshaping remain central to how the operating base has been built.
Execution centers on underground mine operation, exploration, processing, and the integration of acquired assets. Production is concentrated in Mexico, while Jerritt Canyon in Nevada remains a development asset with a planned restart rather than a producing mine.
Results depend on metals prices, mine grades and costs, labor and physical access, water and permitting, and the economics of the Los Gatos partnership. The Mexican tax dispute and related arbitration remain unresolved.
Company facts
Key statistics
Year to date +29.2% · Average volume (30d) 10.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 31, 2026 | H.C. Wainwright | Target | $26 | $27 | |
| Jul 14, 2026 | Scotiabank | Reiterate | Sector Perform | $23 | $22.50 |
| Jul 10, 2026 | H.C. Wainwright | Target | $30.75 | $26 | |
| May 12, 2026 | H.C. Wainwright | Target | $30 | $30.75 | |
| Feb 20, 2026 | H.C. Wainwright | Target | $24.50 | $30 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.25 | $0.21 | −16.0% | $496.0M | $415.5M | −16.2% | +3.09% |
| May 12, 2026Q1 FY26 | $0.33 | $0.31 | −6.1% | $522.0M | $476.7M | −8.7% | −0.95% |
| Feb 19, 2026Q4 FY25 | $0.22 | $0.30 | +34.7% | $403.7M | $463.9M | +14.9% | +11.18% |
| Nov 5, 2025Q3 FY25 | $0.11 | $0.07 | −36.4% | $308.0M | $286.7M | −6.9% | +2.16% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $246.0M | $264.7M | $286.7M | $471.1M | $470.1M | $415.5M | |
| Gross profit | $63.8M | $49.4M | $99.1M | $238.3M | $259.8M | $266.8M | |
| Operating income | $35.5M | $39.5M | $78.8M | $213.5M | $232.7M | $197.5M | |
| Net income | $6.2M | $56.6M | $27.0M | $84.4M | $126.3M | $109.4M | |
| Diluted EPS | $0.00 | $0.11 | $0.05 | $0.17 | $0.25 | $0.22 | |
| Gross margin | 25.9% | 18.6% | 34.6% | 50.6% | 55.3% | 64.2% | |
| Operating margin | 14.4% | 14.9% | 27.5% | 45.3% | 49.5% | 47.5% |
Fiscal years (4-quarter sums)FY21 $584.1M · FY22 $624.2M · FY23 $575.7M · FY24 $563.6M · FY25 $1.27B
Balance sheet, Jun 30, 2026Cash & short-term investments $1.25B · Total debt $331.1M · Total assets $4.94B · Shareholders' equity $2.97B
Dividends
Last cut to $0.0152 from $0.0171 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 31 | $0.0152 | cut from $0.0171 |
| May 20, 2026 | May 20 | May 29 | $0.0171 | raised from $0.0083 |
| Feb 27, 2026 | Feb 27 | Mar 16 | $0.0083 | raised from $0.0052 |
| Nov 14, 2025 | Nov 14 | Nov 28 | $0.0052 | raised from $0.0048 |
| Aug 29, 2025 | Aug 29 | Sep 15 | $0.0048 | raised from $0.0045 |
| May 16, 2025 | May 16 | May 30 | $0.0045 | cut from $0.0057 |
| Feb 28, 2025 | Feb 28 | Mar 14 | $0.0057 | raised from $0.0048 |
| Nov 15, 2024 | Nov 15 | Nov 29 | $0.0048 | raised from $0.0046 |
Ownership
Shares outstanding 493.03M · Float 487.51M · 98.9% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Van Eck Associates Corp | 35.67M | 7.23% | 13F | Aug 14, 2026 |
| Toroso Investments, LLC | 19.68M | 3.99% | 13F | Aug 13, 2026 |
| Mirae Asset Global Etfs Holdings Ltd. | 16.36M | 3.32% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 13.50M | 2.74% | 13F | Aug 13, 2026 |
| Jupiter Asset Management Ltd | 10.23M | 2.07% | 13F | Aug 10, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Pan American Silver
Major silver-and-gold mining rival across Mexico and the Americas
- Coeur Mining
North American silver-gold producer with Mexico and Nevada overlap
- Hecla Mining
North American primary-silver producer with U.S. and Canadian mines
- Endeavour Silver
Mid-tier silver producer with mines and projects across the Americas
- Avino Silver & Gold Mines
Mexico-focused silver, gold and copper miner with Durango assets
- Silvercorp Metals
Silver producer with China mines and acquisition-led growth abroad
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| First Majestic Silver | $20.66 | −0.44% | $10.24B | 29.9 | 23.2 | 6.2 | +57.0% |
| Pan American Silver | $52.65 | −0.41% | $22.28B | 16.0 | 12.4 | 5.2 | +35.9% |
| Coeur Mining | $21.13 | −0.02% | $21.78B | 17.0 | 15.6 | 6.9 | +125.9% |
| Hecla Mining | $20.31 | −0.25% | $13.67B | 41.6 | 24.7 | 8.5 | +9.8% |
| Endeavour Silver | $10.67 | −0.84% | $3.19B | 57.2 | 12.9 | 4.3 | +139.4% |
| Avino Silver & Gold Mines | $7.45 | −0.20% | $1.27B | 28.2 | 31.8 | 11.0 | +22.9% |
| Silvercorp Metals | $12.90 | +1.20% | $2.82B | 125.6 | 17.6 | 5.8 | +70.5% |
| Median | 34.9 | 16.6 | 6.3 | +53.2% |