First Majestic Silver (NYSE:AG) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Posted by Amy Steele on May 13th, 2026

First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) issued its quarterly earnings data on Tuesday. The mining company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02, Briefing.com reports. The firm had revenue of $476.67 million during the quarter, compared to the consensus estimate of $522.00 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. The company’s revenue for the quarter was up 95.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS.

Here are the key takeaways from First Majestic Silver’s conference call:

First Majestic reported a strong Q1 with record revenue of $477 million, operating cash flow of $311 million, and production above midpoint guidance for both silver and gold.
Management emphasized that margins expanded sharply, with silver margins rising to $52/oz from $13/oz a year ago, despite some cost increases tied to higher prices and lower cut-off grades.
The company highlighted a record dividend of $0.0171 per share, roughly four times last year’s payout, supported by stronger profitability and a higher dividend policy.
Operational and growth projects are advancing, including the Santa Elena mill expansion, higher throughput at Los Gatos, and continued exploration success at Santo Niño and Navidad that lifted resources.
Jerritt Canyon restart plans remain on track for H2 2027, with new leadership in place and key items such as the oxygen plant, underground fleet, and staffing still being worked through.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock traded down $0.87 during trading hours on Wednesday, hitting $23.34. The company’s stock had a trading volume of 2,810,662 shares, compared to its average volume of 21,812,334. The company has a market cap of $11.51 billion, a PE ratio of 66.45 and a beta of 0.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.60. The business has a 50 day moving average price of $21.97 and a two-hundred day moving average price of $19.44. First Majestic Silver has a 12-month low of $5.49 and a 12-month high of $32.03.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th will be given a $0.0171 dividend. The ex-dividend date is Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 annualized dividend and a dividend yield of 0.3%. First Majestic Silver’s dividend payout ratio (DPR) is presently 8.57%.

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its stake in First Majestic Silver by 14.0% in the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock worth $258,273,000 after purchasing an additional 2,581,023 shares during the period. BNP Paribas Financial Markets raised its position in shares of First Majestic Silver by 964.5% during the second quarter. BNP Paribas Financial Markets now owns 2,334,147 shares of the mining company’s stock valued at $19,303,000 after buying an additional 2,114,874 shares during the last quarter. Morgan Stanley lifted its holdings in shares of First Majestic Silver by 63.2% in the fourth quarter. Morgan Stanley now owns 3,809,109 shares of the mining company’s stock worth $63,460,000 after buying an additional 1,474,412 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of First Majestic Silver by 67.3% in the fourth quarter. Mackenzie Financial Corp now owns 2,869,121 shares of the mining company’s stock worth $48,502,000 after buying an additional 1,154,430 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of First Majestic Silver by 343.3% during the third quarter. Barclays PLC now owns 1,383,403 shares of the mining company’s stock worth $17,002,000 after acquiring an additional 1,071,354 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver News Summary

Here are the key news stories impacting First Majestic Silver this week:

Positive Sentiment: First Majestic reported a strong first quarter with earnings above expectations and revenue up sharply year over year, reinforcing the company’s improved operating momentum. Why First Majestic Silver (TSX:AG) Is Up 27.4% After Earnings Beat, Dividend Hike And Expansion Update
Positive Sentiment: The company increased its quarterly dividend by more than 100%, signaling confidence in cash flow and a more shareholder-friendly capital allocation approach. First Majestic Announces Q1 2026 Financial Results and Increased Quarterly Dividend Payment; Provides Management Updates
Positive Sentiment: Management updates and expansion plans, including advancement on major projects and a restart plan for Jerritt Canyon, suggest additional long-term production growth potential. First Majestic Silver: Recent Developments Demand An Upgrade
Neutral Sentiment: Some market commentary says the stock has already rallied sharply and may be priced for perfection, which could limit further upside if silver sentiment cools. Is It Too Late To Consider First Majestic Silver (TSX:AG) After 313% Rally?
Neutral Sentiment: One valuation-focused article argued the shares may look overvalued after the recent surge, so some investors may question how much of the good news is already reflected in the price. First Majestic Silver Corp (AG) Stock Up 7.9% but GF Value Says Overvalued — GF Score: 58/100

Analyst Ratings Changes

AG has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Scotiabank upgraded First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. Wall Street Zen downgraded First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 4th. HC Wainwright raised their target price on shares of First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Majestic Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.25.

View Our Latest Stock Report on First Majestic Silver

First Majestic Silver Company Profile

(Get Free Report)

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.