Welcome to our dedicated page for First Majestic news (Ticker: AG), a resource for investors and traders seeking the latest updates and insights on First Majestic stock.
First Majestic Silver Corp. (AG) is a publicly traded mining company focused on silver and gold production, with operating underground mines in Mexico and development and exploration assets in Mexico and the United States. The news flow around First Majestic is driven by operational updates from its producing mines, exploration results, corporate transactions and financing activities.
Investors following AG news can expect regular production reports from the company’s four producing underground mines in Mexico: the Los Gatos Silver Mine (held through a 70% interest in the Los Gatos Joint Venture), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine and the La Encantada Silver Mine. These updates often detail silver and silver‑equivalent output, contributions from by‑product metals, and mine‑by‑mine performance.
First Majestic also issues exploration news, particularly from the Santa Elena district in Sonora, Mexico, where it has reported discoveries and drilling progress at targets such as Santo Niño, Navidad and the Luna Zone. Additional exploration updates come from San Dimas, Los Gatos, La Encantada and the Jerritt Canyon Gold project in Nevada, reflecting the company’s focus on resource growth and mine life extension.
Corporate and capital markets developments feature prominently in AG news releases. Recent examples include the acquisition and integration of Gatos Silver, Inc., the proposed sale of the past‑producing Del Toro Silver Mine to Sierra Madre Gold & Silver Ltd., offerings and pricing of unsecured convertible senior notes due 2031, and early‑warning reports related to changes in equity positions in other mining companies.
Dividend declarations, share repurchase program announcements on the Toronto Stock Exchange, and disclosures on safety performance and ESG ratings also appear in the company’s news. For investors and analysts, the AG news page provides a centralized view of production trends, exploration milestones, balance sheet actions and other material events affecting First Majestic Silver Corp.
First Majestic Silver Corp. (AG) has announced a definitive merger agreement to acquire Gatos Silver, Inc. (GATO). The transaction values Gatos at approximately US$970 million, with Gatos shareholders receiving 2.550 First Majestic shares for each Gatos share. This represents a 16% premium based on closing prices and 20-day VWAPs as of September 4, 2024.
Key highlights of the merger include:
- Consolidation of three world-class silver mining districts in Mexico
- Combined annual production of 30-32 million ounces of silver-equivalent
- Expected annual free cash flow contribution of ~US$70 million from Gatos
- Creation of a 350,000-hectare prospective land package
- Pro forma market capitalization approaching US$3 billion
The transaction is expected to close in early 2025, subject to shareholder and regulatory approvals.
First Majestic Silver Corp. (NYSE: AG) announced Q2 2024 financial results, highlighting production of 5.3 million silver equivalent ounces, a 2% increase from Q1. Quarterly revenues were $136.2 million, down 7% year-over-year due to higher silver inventory and lower production at some mines. The company reported improved mine operating earnings of $15.5 million, up from $1.1 million in Q2 2023. Cash costs were $15.29 per AgEq ounce, a 2% improvement year-over-year. First Majestic held 712,539 silver ounces in inventory valued at $20.9 million. The company declared a quarterly dividend of $0.0046 per share. Management anticipates further improvements in H2 2024 due to planned higher ore grades and throughput rates.
First Majestic Silver Corp. (NYSE: AG) has announced a significant new gold and silver discovery at its Santa Elena property in Sonora, Mexico. The Navidad vein system, located near the producing Ermitaño mine, has shown high-grade mineralization in initial drilling. Highlights include:
- 54.93 g/t Au and 399 g/t Ag over 1.82 m true thickness
- 10.13 g/t Au and 86 g/t Ag over 4.42 m true thickness
- 8.15 g/t Au and 427 g/t Ag over 4.78 m true thickness
The discovery has an apparent strike length of 750 m and a dip continuity of 225 m. Four drill rigs are currently focused on exploring the extent and grade of the Navidad mineralization, which remains open in all directions.
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.
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.
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.
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.
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.
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.
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.