First Majestic Silver Corp. reports developments tied to silver and gold mining in North America, with recurring updates on four producing underground mines in Mexico: Santa Elena, Los Gatos, San Dimas and La Encantada. The company's news also covers its 70% interest in the Los Gatos joint venture, production of silver, gold, zinc, lead and copper, and sales exposure to precious metals in doré and concentrate form.
Company updates frequently address mineral reserve and resource estimates, exploration drilling, operating and financial results, dividend actions, shareholder voting matters, governance and capital-structure disclosures. Jerritt Canyon in Nevada is a recurring exploration and development topic within the company's asset portfolio.
First Majestic Silver (AG) reported third-quarter 2026 revenue of $394.1 million, up 38% year over year, driven by higher realized metal prices. Net earnings attributable to shareholders rose to $74.5 million, or $0.15 per share, from $27.0 million, or $0.06 per share.
Silver production fell 11% to 3,440,447 ounces and gold production declined 17% to 29,552 ounces. All-in sustaining costs rose 46% to $30.45 per silver-equivalent ounce, while free cash flow fell 14% to $85.5 million. Attributable capital expenditures increased 114% to $101.9 million.
Treasury totaled $1.23 billion, including $162.9 million in restricted cash. Finished silver and gold inventory had a fair value of $54.1 million, excluded from quarterly revenue. The company declared a $0.0142-per-share quarterly dividend, up 176% year over year.
First Majestic Silver (AG) agreed with Mexico to pause its NAFTA arbitration while working to finalize a settlement of a legacy tax issue.
The issue concerns subsidiary Primero Empresa Minera. The parties agreed in principle to a settlement framework, and the tribunal suspended proceedings until December 31, 2026. First Majestic remains optimistic that a settlement will be finalized by year-end. The parties can request an extension into the first quarter of 2027 if needed. If no settlement is concluded by year-end and further time is not expected to resolve it, First Majestic will request that arbitration resume.
First Majestic Silver (AG) reported third-quarter 2026 silver production of 3.4 million ounces and renewed its share repurchase program. Attributable silver output fell 11% year over year and 9% quarter over quarter; gold production of 29,552 ounces fell 17% and 15%, respectively. Silver and gold production reached 72% and 75% of revised annual guidance midpoints. A labour dispute disrupted San Dimas operations for 12 days, while La Encantada silver output rose 68% year over year.
The renewed program permits purchases of up to 10,000,000 shares, approximately 2% of outstanding shares, from October 14, 2026, through October 13, 2027, with purchased shares cancelled. First Majestic expects Santa Elena and Los Gatos expansions to finish in the near term and remains on track to restart Jerritt Canyon production in H2 2027. Q3 financial results and dividend details are planned for November 5, 2026, before markets open.
First Majestic (AG) reported high-grade silver and gold drill results from its 2026 exploration program at the San Dimas Silver/Gold Mine in Durango, Mexico.
About 89,000 m of exploration drilling has been completed year-to-date out of approximately 117,000 m planned, focused on resource-conversion and resource-addition targets in the West, Central, Graben and East/Arana blocks. Drilling in the Sinaloa-Elia complex returned intercepts up to 0.88 m @ 2,604 g/t Ag and 43.08 g/t Au (5,835 g/t AgEq), while the El Cristo area returned up to 1.30 m @ 2,625 g/t Ag and 58.25 g/t Au (6,994 g/t AgEq). New results at Convención and Coronado–Carmen Escobosa expand the exploration footprint and support potential future Mineral Resource growth.
First Majestic (NYSE: AG) has filed an NI 43-101 Technical Report for the Los Gatos Silver Mine, effective August 25, 2026. The report supports Mineral Resource and Mineral Reserve estimates effective December 31, 2025 and was voluntarily filed on SEDAR+, not in connection with a material change or prospectus.
Los Gatos is held through the Los Gatos Joint Venture, of which First Majestic owns 70% and is operator, with Dowa Metals & Mining holding 30%. Mineral Resources and Reserves are reported on both a 100% JV and 70% attributable basis, prepared and reviewed by Qualified Persons under NI 43-101 and CIM standards, and supported by QA/QC and data verification programs.
First Majestic (NYSE: AG) reported strong unaudited Q2 2026 results, with revenue up 57% year-over-year to $415.5 million, driven mainly by a 90% higher realized silver price and 40% higher realized gold price. Silver and gold production rose 3% and 2%, respectively.
Net earnings were $109.4 million (EPS $0.22), while adjusted net earnings reached $101.6 million (adjusted EPS $0.21). EBITDA was $252.3 million, up 110% from Q2 2025, and free cash flow increased to $194.6 million. Treasury grew 34% from year-end 2025 to a record $1,252.7 million, including $159.4 million in restricted cash, with working capital at $876.0 million.
Company-wide cash costs were $18.06 per silver equivalent ounce and AISC $25.68, both above prior-year levels but below guidance, yielding an AISC margin of $40.27 per AgEq ounce. The Board declared a Q2 2026 cash dividend of $0.0152 per share, a 217% year-over-year increase, and the company repurchased and cancelled 1,200,000 shares for $22.7 million under its buyback program.
First Majestic (NYSE:AG) reported Q2 2026 production of 3.8M silver oz (+3% Y/Y), 34,660 gold oz (+2% Y/Y), 16.5M lb zinc, 9.0M lb lead and 252,938 lb copper from its four Mexican mines.
The company raised 2026 production guidance to 14.6–15.5M silver oz and 128k–135k gold oz, increased its 2026 capital budget to $318–$344M to fund growth projects including the Jerritt Canyon restart, and completed the sale of the Del Toro mine for up to $60M.
First Majestic (NYSE:AG) entered a definitive agreement on July 6, 2026 to sell its 100%-owned past producing San Martin Silver Mine in Jalisco, Mexico to Flextronics for total cash consideration of US$90 million.
Payments include US$2.5M at closing, US$2.5M within 180 days, US$10M annually for five years, and US$35M on August 31, 2032, subject to customary conditions and Mexican antitrust approval. Closing is expected in Q4 2026.
First Majestic (NYSE:AG) reported 2026 exploration and development progress at the Santa Elena district in Mexico.
The company received construction permits for the Santo Niño and Navidad portals and plans an additional $12 million 2026 investment to build underground access supported by extensive high-grade silver-gold infill drilling at both targets.
Sierra Madre Gold and Silver has closed its acquisition of the Del Toro Silver Mine from First Majestic (NYSE:AG) for up to US$60 million in cash and shares.
The deal includes an initial US$20 million cash payment, 10.87 million Sierra Madre shares, further staged payments, and a concurrent $57.5 million equity financing.