Canada's First Majestic Silver Q1 revenue jumps 95% on higher metal prices

First Majestic Silver

12/05/2026 12:10

Overview

Canada silver and gold miner's Q1 revenue rose 95% yr/yr on higher metal prices

Adjusted EPS for Q1 rose to $0.31 from $0.05 a year earlier

Company declared Q1 dividend nearly four times higher than prior year

Outlook

Company anticipates cash costs and AISC per ounce to decrease in H2 2026

Future quarterly dividends targeted at 2% of net quarterly revenues

Result Drivers

HIGHER METAL PRICES - Co said higher realized silver and gold prices were the main driver of revenue and earnings growth

INCREASED SALES VOLUMES - Growth in silver ounces sold at La Encantada and Santa Elena, and higher base metal sales at Los Gatos, contributed to revenue rise

OPERATIONAL EFFICIENCY - Revenue grew substantially faster than costs, aided by focus on operational efficiency, despite higher variable costs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Basic EPS
$0.26


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the non-gold precious metals & minerals peer group is "buy"

Wall Street's median 12-month price target for First Majestic Silver Corp is C$36.00, about 11.5% above its May 11 closing price of C$32.29

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 30 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)