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First Majestic Silver Corp. - AG STOCK NEWS

Welcome to our dedicated page for First Majestic Silver news (Ticker: AG), a resource for investors and traders seeking the latest updates and insights on First Majestic Silver stock.

First Majestic Silver Corp. (NYSE: AG, TSX: AG, FSE: FMV) is a distinguished mining company focused on silver and gold production in North America, particularly in Mexico. The company boasts ownership of three prolific mines: the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine. First Majestic's operations extend to Northern Nevada with the Jerritt Canyon Gold Project, aligning with its aggressive development and acquisition strategy.

First Majestic's commitment to sustainable mining is reflected in its recent achievements. In Q4 2023, the company produced 6.6 million silver equivalent ounces, a 6% increase from the previous quarter, driven by remarkable production at Santa Elena. Their total 2023 production of 26.9 million AgEq ounces underscored resilience amidst challenges, notably at La Encantada due to water scarcity.

Environmentally and socially conscious, First Majestic improved its ESG score from 50.56 in 2022 to 31.0 in 2023, placing it in the top 38% of its industry peers. This was complemented by a robust safety record, with a Total Reportable Incident Frequency Rate (TRIFR) of 1.02 and Lost Time Incident Frequency Rate (LTIFR) of 0.34, marking significant improvements.

The company has also made strides in its operational infrastructure. The commissioning of its 100%-owned minting facility, First Mint, LLC, enables the production of investment-grade fine silver bullion. This initiative aims to integrate vertically into the bullion market, enhancing direct customer sales.

First Majestic's financial performance remains strong, with a cash and restricted cash balance of $229.3 million as of Q1 2024. The company continuously seeks to optimize its operations, reflected in its projected capital investments of $125.0 million for 2024, focusing on underground development, exploration, and property enhancements.

Looking ahead, First Majestic continues to prioritize exploration, with 188,500 meters of drilling planned for 2024. The company's vision of becoming a senior silver producer is supported by a solid foundation of development and the strategic expansion of its existing and new projects.

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First Majestic Silver Corp. (NYSE: AG) reports Q2 2024 production of 5.3 million silver equivalent ounces, consisting of 2.1 million silver ounces and 39,339 gold ounces. This represents a 7% increase in silver and 9% increase in gold production compared to Q1 2024. Key highlights include:

1. La Encantada's silver production increased 28% due to improved water supply.
2. Santa Elena's production rose 13% to 2.6 million AgEq ounces.
3. San Dimas is converting to LNG for more reliable, lower-emission power.
4. The company maintains strong safety performance with low incident rates.
5. Updated 2024 guidance: 21.4 to 22.6 million AgEq ounces, with increased silver and slightly decreased gold production.

First Majestic also revised its cash cost guidance to $14.25-$14.68 per ounce and AISC to $20.36-$21.12 per AgEq ounce for 2024.

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First Majestic Silver Corp. (NYSE: AG) announced positive results from its 2024 exploration program at the San Dimas Silver/Gold Mine in Durango State, Mexico. The drilling program aimed to test new mineral targets, expand resources, and convert resources to reserves. Key highlights include significant mineralization in the Perez, Sinaloa-Elia, Santa Regina, and Santa Teresa veins, with high-grade intercepts like 39.28 g/t Au and 1,905 g/t Ag over 1.76 meters. Specific noteworthy veins include intercepts such as 7.36 g/t Au and 1,129 g/t Ag over 6.72 meters in the Perez vein and 20.41 g/t Au and 1,702 g/t Ag over 2.15 meters in the Sinaloa-Elia vein. These results highlight San Dimas' potential for resource expansion and conversion, confirming the continuity and prospectivity of the veins targeted in the exploration program.

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First Majestic Silver Corp. (NYSE: AG) released its 2023 Annual Report, celebrating its 20-year journey as one of the world's largest silver producers.

The report, titled '20 Years. The Silver Evolution,' outlines the company's vision, values, and financial performance. CEO Keith Neumeyer highlighted the company's growth despite challenges, emphasizing adaptability and resilience.

The full report is available on the company's website, and shareholders can request physical copies. The audited financial statements for 2023 are included in the report.

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First Majestic Silver Corp., listed on NYSE and TSX under the symbol AG, has released its 2023 Sustainability Report. The report, aligned with SASB standards, highlights significant achievements in Environmental, Social, and Governance (ESG) performance.

Key highlights include a 32% reduction in reportable injuries and a 51% reduction in lost-time injuries. The company also reported a 48% reduction in carbon footprint per tonne of ore processed and significant community investments benefiting nearly 11,000 people.

Other achievements include a 22% hiring rate for women, a 30% increase in community investments to US$1.3 million, and improved ESG scores, with a Sustainalytics score improving from 50.6 in 2022 to 31 in 2023, and an S&P Global CSA score rising from 25 to 31.

The report outlines the company's ongoing commitment to responsible corporate practices, with a forward-looking sustainability strategy and transparent reporting to uphold its values of trust, sustainability, and accountability.

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First Majestic Silver announced a ticker symbol change on the Toronto Stock Exchange (TSX) from 'FR' to 'AG', effective May 27, 2024. This change aligns their TSX symbol with their New York Stock Exchange (NYSE) symbol for better brand consistency across North American markets. Their Frankfurt Stock Exchange symbol, 'FMV', remains unchanged. Shareholders are not required to take any action; the CUSIP number and share certificates stay the same.

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First Majestic Silver Corp. (NYSE: AG) announced the results of its Annual General Meeting of Shareholders held on May 23, 2024. The meeting saw 120,646,090 common shares represented, constituting 42% of the company's issued and outstanding shares. Shareholders voted in favor of all matters on the agenda. The number of directors was set at five, with the following directors elected: Keith Neumeyer, Marjorie Co, Thomas F. Fudge, Jr., Raymond L. Polman, and Colette Rustad. Deloitte LLP was reappointed as the auditor with 89.46% support. However, the Say-on-Pay advisory resolution did not pass, receiving only 49.17% votes in favor. Despite this, the company noted an increase in support for executive compensation disclosure compared to the previous year's AGM.

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First Majestic Silver Corp. (NYSE: AG) is reminding shareholders to vote in the upcoming Annual General Meeting (AGM) on May 23, 2024, at 10:00 a.m. (Pacific Time) at the Sutton Place Hotel, Vancouver, BC. Shareholders of record as of March 28, 2024, can vote. The Board recommends voting FOR all resolutions. Proxy voting is available until May 21, 2024, at 10:00 a.m. (Pacific Time). For voting assistance, shareholders can contact Kingsdale Advisors.

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First Majestic Silver Corp. announces financial results for Q1 2024, with 5.2 million AgEq ounces produced, $106.0 million in revenues, and a cash dividend payment of $0.0037 per share. The Company's cash balance stands at $229.3 million. Operational highlights include improvements in mine operating earnings and a focus on higher ore grades in H2 2024. AISC increased to $21.53 per AgEq ounce. The Company declared an eligible dividend for shareholders.

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First Majestic Silver Corp. (AG) announces production of 5.2 million AgEq ounces in Q1 2024 from its three mines in Mexico. The company achieved record safety performance and strong production results. La Encantada identified a new water source, Santa Elena met production targets, and the company received high ESG scores. Financial results for Q1 2024 will be released on May 8, 2024.
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First Majestic Silver Corp. announces 2023 Mineral Reserve and Resource estimates for its properties, highlighting changes in silver and gold ounces. Exploration drilling results added new resources. The Company's Measured and Indicated Mineral Resource estimates remained relatively stable. Inferred Mineral Resource estimates increased, driven by successful drilling programs and modeling.
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FAQ

What are the core operations of First Majestic Silver Corp.?

First Majestic Silver Corp. focuses on the production, development, exploration, and acquisition of mineral properties, emphasizing silver and gold production. It operates three primary mines in Mexico and the Jerritt Canyon Gold Project in Nevada.

What were the key achievements of First Majestic Silver Corp in 2023?

In 2023, First Majestic reported a total production of 26.9 million AgEq ounces. Significant achievements include a 6% production increase in Q4, improvements in ESG scores, a strong safety record, and the commissioning of the First Mint, LLC.

How does First Majestic Silver Corp. ensure sustainability in its operations?

First Majestic emphasizes sustainable practices, evident from its improved ESG score. The company also focuses on reducing environmental impact with state-of-the-art equipment at its minting facility that requires less electricity and produces no gas emissions.

What are the financial highlights of First Majestic Silver Corp.?

As of Q1 2024, First Majestic held a cash and restricted cash balance of $229.3 million. The company generated $573.8 million in annual revenues for 2023 and has set a capital investment budget of $125.0 million for 2024.

What are the future exploration plans of First Majestic Silver Corp.?

For 2024, First Majestic plans to undertake 188,500 meters of exploration drilling, focusing on expanding resources at existing mines and identifying new mineralized zones.

What is the objective of the newly launched First Mint, LLC?

First Mint, LLC aims to produce investment-grade fine silver bullion, allowing First Majestic to sell a larger portion of its silver production directly to customers, thereby enhancing its market presence and vertical integration.

What safety measures does First Majestic Silver Corp. implement?

First Majestic maintains stringent safety protocols, reflected in its improved Total Reportable Incident Frequency Rate (TRIFR) of 1.02 and Lost Time Incident Frequency Rate (LTIFR) of 0.34 in 2023, showcasing a 16% and 33% improvement, respectively.

How did First Majestic Silver Corp. perform in Q1 2024?

In Q1 2024, First Majestic produced 5.2 million AgEq ounces, including 2.0 million ounces of silver and 35,936 ounces of gold. The company also identified a significant new water source at La Encantada, anticipating improved ore throughput rates by Q3 2024.

What is the significance of First Majestic Silver Corp.'s ESG score improvement?

First Majestic's ESG score improvement from 50.56 in 2022 to 31.0 in 2023 places the company in the top 38% of its industry peers, highlighting its commitment to environmental, social, and governance best practices.

How does First Majestic Silver Corp. engage with its shareholders?

First Majestic actively engages with shareholders through regular updates, detailed financial reports, and annual meetings. The company also offers a Shareholder Benefits program, providing savings on silver purchases for shareholders with at least 100 shares.

First Majestic Silver Corp.

NYSE:AG

AG Rankings

AG Stock Data

1.78B
291.07M
2.23%
39.07%
5.65%
Silver Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
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