(AG) First Majestic Silver - NYSE
Sector: Basic Materials | Industry: Silver | Exchange: NYSE (USA) | Market Cap: 8.715m USD | Total Return: 111% in 12m
Avg Turnover: 219M
Qual. Beats: 0
Rev. Trend: 82.2%
Qual. Beats: 1
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
First Majestic Silver Corp. is a Vancouver-based mining company focused on the acquisition, development, and production of silver and gold assets in North America. The company operates primary producing mines in Mexico, including the San Dimas, Santa Elena, and La Encantada sites, while maintaining a significant interest in the Los Gatos project. Its business model relies on large-scale land holdings, with its three primary Mexican projects covering over 178,000 hectares of mineral-rich territory.
The silver mining sector is characterized by high capital intensity and sensitivity to industrial demand, as silver serves both as a precious metal and a critical component in photovoltaic cells and electronics. Unlike many diversified miners, First Majestic maintains a high leverage to silver prices, as a significant portion of its revenue is derived specifically from silver production rather than base metal byproducts. Investors can further examine these commodity price sensitivities and financial metrics on ValueRay. This focus on pure-play silver production makes the company’s valuation highly correlated with global spot price fluctuations.
- Silver and gold price volatility directly dictates quarterly revenue and cash flow
- Operational success at San Dimas mine remains critical for total production volume
- Mexican mining tax reforms and regulatory changes impact net profit margins
- All-in sustaining costs per ounce determine profitability relative to spot metal prices
- Strategic acquisition of Los Gatos project shifts long-term reserve and production outlook
| Net Income: 294.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 9.99 > 1.0 |
| NWC/Revenue: 56.67% < 20% (prev 57.66%; Δ -0.99% < -1%) |
| CFO/TA 0.15 > 3% & CFO 743.5m > Net Income 294.3m |
| Net Debt (-812.8m) to EBITDA (891.5m): -0.91 < 3 |
| Current Ratio: 2.73 > 1.5 & < 3 |
| Outstanding Shares: last quarter (501.8m) vs 12m ago 9.94% < -2% |
| Gross Margin: 43.31% > 18% (prev 26.38%; Δ 16.93% > 0.5%) |
| Asset Turnover: 33.66% > 50% (prev 17.41%; Δ 16.25% > 0%) |
| Interest Coverage Ratio: 32.20 > 6 (EBIT TTM 627.1m / Interest Expense TTM 19.5m) |
| A: 0.17 (Total Current Assets 1.34b - Total Current Liabilities 489.6m) / Total Assets 4.84b |
| B: -0.09 (Retained Earnings -439.4m / Total Assets 4.84b) |
| C: 0.14 (EBIT TTM 627.1m / Avg Total Assets 4.43b) |
| D: 1.93 (Book Value of Equity 2.90b / Total Liabilities 1.51b) |
| Altman-Z'' = 3.83 = AA |
| DSRI: 0.53 (Receivables 82.5m/72.6m, Revenue 1.49b/702.1m) |
| GMI: 0.61 (GM 26.38% / 43.31%) |
| AQI: 1.10 (AQ_t 0.05 / AQ_t-1 0.04) |
| SGI: 2.13 (Revenue 1.49b / 702.1m) |
| TATA: -0.09 (NI 294.3m - CFO 743.5m) / TA 4.84b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of June 19, 2026, the stock is trading at USD 18.00 with a total of 15,394,527 shares traded.
Over the past week, the price has changed by +6.38%,
over one month by -8.69%,
over three months by -17.13% and
over the past year by +110.96%.
First Majestic Silver has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy AG.
- StrongBuy: 3
- Buy: 1
- Hold: 1
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 26.9 | 49.3% |
P/E Trailing = 29.9153
P/E Forward = 16.2338
P/S = 5.8495
P/B = 3.01
Revenue TTM = 1.49b USD
EBIT TTM = 627.1m USD
EBITDA TTM = 891.5m USD
Long Term Debt = 243.6m USD (from longTermDebt, last quarter)
Short Term Debt = 63.5m USD (from shortTermDebt, last quarter)
Debt = 331.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 16.7m
Net Debt = -812.8m USD (calculated: Debt 331.8m - CCE 1.14b)
Enterprise Value = 7.90b USD (8.72b + Debt 331.8m - CCE 1.14b)
Interest Coverage Ratio = 32.20 (Ebit TTM 627.1m / Interest Expense TTM 19.5m)
EV/FCF = 14.59x (Enterprise Value 7.90b / FCF TTM 541.7m)
FCF Yield = 6.86% (FCF TTM 541.7m / Enterprise Value 7.90b)
FCF Margin = 36.29% (FCF TTM 541.7m / Revenue TTM 1.49b)
Net Margin = 19.72% (Net Income TTM 294.3m / Revenue TTM 1.49b)
Gross Margin = 43.31% ((Revenue TTM 1.49b - Cost of Revenue TTM 846.1m) / Revenue TTM)
Gross Margin QoQ = 55.26% (prev 50.58%)
Tobins Q-Ratio = 1.63 (Enterprise Value 7.90b / Total Assets 4.84b)
Interest Expense / Debt = 5.87% (Interest Expense 19.5m / Debt 331.8m)
Taxrate = 42.11% (255.9m / 607.6m)
NOPAT = 363.1m (EBIT 627.1m * (1 - 42.11%))
Current Ratio = 2.73 (Total Current Assets 1.34b / Total Current Liabilities 489.6m)
Debt / Equity = 0.11 (Debt 331.8m / totalStockholderEquity, last quarter 2.90b)
Debt / EBITDA = -0.91 (Net Debt -812.8m / EBITDA 891.5m)
Debt / FCF = -1.50 (Net Debt -812.8m / FCF TTM 541.7m)
Total Stockholder Equity = 2.69b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.64% (Net Income 294.3m / Total Assets 4.84b)
RoE = 10.94% (Net Income TTM 294.3m / Total Stockholder Equity 2.69b)
RoCE = 21.38% (EBIT 627.1m / Capital Employed (Equity 2.69b + L.T.Debt 243.6m))
RoIC = 8.38% (NOPAT 363.1m / Invested Capital 4.33b)
WACC = 9.90% (E(8.72b)/V(9.05b) * Re(10.15%) + D(331.8m)/V(9.05b) * Rd(5.87%) * (1-Tc(0.42)))
Discount Rate = 10.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 28.18%
[DCF] Terminal Value 73.11% ; FCFF base≈344.7m ; Y1≈395.1m ; Y5≈581.5m
[DCF] Fair Price = 15.56 (EV 6.87b - Net Debt -812.8m = Equity 7.68b / Shares 493.8m; r=9.90% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.27 | # QB: 0
Revenue Correlation: 82.19 | Revenue CAGR: 39.25% | SUE: 4.0 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.27 | Chg30d=-7.02% | Revisions=+20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.27 | Chg30d=-6.90% | Revisions=N/A | Analysts=2
EPS current Year (2026-12-31): EPS=1.05 | Chg30d=-6.44% | Revisions=-25% | GrowthEPS=+128.8% | GrowthRev=+32.7%
EPS next Year (2027-12-31): EPS=1.10 | Chg30d=-2.21% | Revisions=+0% | GrowthEPS=+5.0% | GrowthRev=+16.3%
[Analyst] Revisions Ratio: -25%