Canada's First Majestic Silver Q2 revenue rises on higher metal prices

First Majestic Silver

30/07/2026 12:25

Overview
Canada silver and gold miner's Q2 revenue rose 57% yr/yr, driven by higher metal prices
Adjusted EPS for Q2 jumped to $0.21 from $0.04 a year earlier
Company raised quarterly dividend nearly fourfold and repurchased 1.2 mln shares

Outlook
Company targets quarterly dividend at about 2% of net quarterly revenues  from January 1, 2026 onwards divided by the Company's then outstanding common shares

Result Drivers
HIGHER METAL PRICES - Co said 90% higher realized silver price and 40% higher realized gold price drove revenue and earnings growth
INCREASED SALES VOLUMES - Revenue growth also supported by 57% and 22% increases in silver ounces sold at La Encantada and Santa Elena, respectively
COST PRESSURES - Higher cash costs and AISC per ounce due to operational disruptions, increased mining activity, and stronger Mexican peso

Company press release: ID:nNFC2yhPJt

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$415.50 mln
$496 mln (1 Analyst)
Q2 Adjusted Net Income
 
$101.60 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "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$35.00, about 63.5% above its July 29 closing price of C$21.41
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads
July 29 - Canada's Endeavour Silver Q2 revenue jumps 149% on higher output, prices
July 29 - Canada's Agnico Eagle Q2 net income rises on higher gold prices
July 29 - Canada's Kinross Gold Q2 revenue, profit benefit from higher prices

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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.)