Canada's First Majestic Silver Q4 revenue up 169%, helped by  Los Gatos Silver Mine acquisition

First Majestic Silver

19/02/2026 12:16

Overview

Canada silver miner's Q4 revenue grew 169% yr/yr, beating analyst expectations

Adjusted EPS for Q4 beat analyst expectations

Company achieved record quarterly silver production, up 77% yr/yr

Outlook

First Majestic sees continued strong performance from Los Gatos Silver Mine

Result Drivers

RECORD SILVER PRODUCTION - Co achieved record quarterly silver production of 4.2 mln oz, a 77% increase y/y, driven by increased output at San Dimas and La Encantada

LOS GATOS CONTRIBUTION - Acquisition of Los Gatos Silver Mine added $187.4 mln to Q4 revenue, significantly boosting overall results

HIGHER SILVER PRICES - Average realized silver price rose 91% y/y to $58.96 per AgEq oz, supporting revenue growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$463.90 mln
$404 mln (1 Analyst)
Q4 Adjusted EPS
Beat
$0.30
$0.21 (3 Analysts)
Q4 Adjusted Net Income
$144.40 mln
Q4 Adjusted Free Cash Flow
$301 mln
Q4 Basic EPS
$0.17


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "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$30.26, about 2.3% below its February 18 closing price of C$30.98

The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 36 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)