First Majestic Silver stock | Expectations for 2026, valuation & analysis

First Majestic Silve...

TSX:AG

C$ 26,97

+ C$0,21 (0,78%)

26,97 C$

+C$0,21 (0,78%)

End-of-day quote: 05/01/2026

First Majestic Silver Stock Value

The current analyst rating for TSX:AG is Outperform.

Outperform

First Majestic Silver Company Info

EPS Growth 5Y

22,33%

Market Cap

C$13,32 B

Long-Term Debt

C$0,40 B

Short Interest

2,09%

Quarterly earnings

05/12/2026

Dividend

C$0,03

Dividend Yield

0,12%

Founded

1979

Industry

Materials

Country

Canada

ISIN Number

CA32076V1031

Website

http://www.firstmajestic.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

C$37,00

37.19%

Last Update: 04/28/2026

Analysts: 4

Highest Price Target C$45,00

Average Price Target C$37,00

Lowest Price Target C$35,00

In the last five quarters, First Majestic Silver’s Price Target has risen from C$3,67 to C$13,88 - a 278,20% increase. Four analysts predict that First Majestic Silver’s share price will increase in the coming year, reaching C$37,00. This would represent an increase of 37,19%.

Top growth stocks in the materials sector (5Y.)

What does First Majestic Silver do?

First Majestic Silver Corp. (First Majestic) engages in the business of the production, development, exploration and acquisition of mineral properties with a focus on silver and gold production in Mexico and the United States. As such, the company's business is dependent on foreign operations in Mexico and the United States. The company owns and operates three producing mines in Mexico: The San Dimas Silver/Gold Mine in Durango State ('San Dimas Silver/Gold Mine' or 'San Dimas'); The Santa El...

The company owns and operates three producing mines in Mexico:

The San Dimas Silver/Gold Mine in Durango State ('San Dimas Silver/Gold Mine' or 'San Dimas');

The Santa Elena Silver/Gold Mine in Sonora State ('Santa Elena Silver/Gold Mine' or 'Santa Elena'); and

The La Encantada Silver Mine in Coahuila State ('La Encantada Silver Mine' or 'La Encantada').

The company also owns the Jerritt Canyon Gold Mine ('Jerritt Canyon') in Elko, Nevada, USA. On March 20, 2023, the company announced a planned temporary suspension of all mining activities at Jerritt Canyon to focus on exploration, definition, and expansion of the mineral resources and optimization of mine planning and plant operation.

In addition, the company owns the following non-material mines, which are under care and maintenance:

The San Martín Silver Mine in Jalisco State, Mexico ('San Martín Silver Mine' or 'San Martín'); and

The Del Toro Silver Mine in Zacatecas State, Mexico ('Del Toro Silver Mine' or 'Del Toro').

The company also owns the La Luz Silver Project, an advanced-stage silver development project in San Luis Potosi State, Mexico.

In September 2023, the company established a new, 100%-owned and operated minting facility ('First Mint'), located in Las Vegas, Nevada, through a subsidiary of the company, First Mint, LLC.

On March 29, 2023, the company completed the sale of all of the shares of La Guitarra Compania, S.A. de C.V., its wholly-owned subsidiary which owns the La Guitarra Silver Mine located in the Temascaltepec mining district, Mexico State, to Sierra Madre Gold & Silver Ltd. ('Sierra Madre').

On August 14, 2023, following the receipt of approval from COFECE, the company announced the closing of the sale of its 100%-owned past producing La Parrilla Silver Mine located in the state of Durango, Mexico to Golden Tag Resources Ltd. (now known as Silver Storm Mining Ltd.) ('Silver Storm').

On September 14, 2023, the company announced the opening of its 100%-owned and operated minting facility, First Mint, located in the State of Nevada. First Mint will expand upon First Majestic's existing bullion sales through vertically integrating the production of investment-grade fine silver bullion, allowing First Majestic to sell a substantially greater portion of its silver production directly to its shareholders and bullion customers.

Principal Markets for Silver and Gold

The company's products are silver and gold.

The company assigns silver and gold from its doré sales primarily to one major metal broker. The company also has streaming obligations for gold and silver from its Santa Elena and San Dimas mines, respectively, which are settled directly with the streaming companies, not through its banking relationships.

The company also maintains an e-commerce website from which it sells a portion of its silver production directly to retail buyers (business to consumer) over the internet as high quality 0.999-fine silver rounds, ingots, bars and medallion sets.

Mineral Properties

San Dimas Silver/Gold Mine, Durango and Sinaloa States, Mexico

The San Dimas mine is an actively producing silver and gold mining complex owned and operated by the company's wholly owned indirect subsidiary, PEM. The San Dimas mine is located near the town of Tayoltita on the borders of the states of Durango and Sinaloa.

The company maintains a de Havilland Twin Otter aircraft and a helicopter, both of which are based at Tayoltita. The San Dimas mine consists of 119 individual concessions covering 71,839 ha.

The San Dimas mine includes five underground gold and silver mining areas: West Block (San Antonio mine), Sinaloa Graben Block (Graben Block), Central Block, Tayoltita Block, and the Arana Hanging-wall Block (Santa Rita mine).

In 2023, the company continued operating the Jessica vein, the Regina vein, the Victoria vein, and the Perez vein among other veins. Development continues in the San Dimas mine preparing extraction levels in the Perez vein and new extraction areas in the West and the Sinaloa/Graben blocks.

Santa Elena Silver/Gold Mine, Sonora State, Mexico

The Santa Elena mine is an actively producing underground gold and silver mining complex owned and operated by the company's wholly owned indirect subsidiary, Nusantara de México, S.A. de C.V. ('Nusantara').

First Majestic is party to a purchase (streaming) agreement with Sandstorm Gold Ltd. ('Sandstorm').

The Santa Elena deposits are hosted in rocks of the Sierra Madre Occidental ('SMO'), an igneous province that extends from the USA-Mexican border south to Guadalajara, Mexico.

The Santa Elena and the Ermitaño deposits are the most significant zones of gold and silver mineralization known within the Santa Elena property.

The Santa Elena Mine operation consists of the Santa Elena and Ermitaño underground mines.

La Encantada Silver Mine, Coahuila State, Mexico

La Encantada mine is an actively producing silver mining complex owned and operated by the company's wholly owned indirect subsidiary, Minera La Encantada, S.A. de C.V. ('Minera La Encantada').

The La Encantada property consist of 22 exploitation concessions covering 4,076 ha. All 22 concessions are in good standing and expire between 2030 and 2065. Minera La Encantada holds a 100 % royalty-free interest in its concessions.

Minera La Encantada owns surface rights covering 2,237 ha on the 'Cañon del Regalado' properties. This surface covers access to the mining complex, mine portals, grinding mill and flotation plant (Plant No. 1), cyanidation plant (Plant No. 2), tailings management facilities, the mine camp, offices, and an airstrip.

Minera La Encantada also holds 19,114 ha of surface rights, 'Cielo Norteño' or 'Rancho El Granizo' property to the North-East of the mine covering an area with water rights.

The La Encantada mine operation consists of an underground mine.

Jerritt Canyon Gold Mine, Elko County, Nevada, USA

Jerritt Canyon is owned by Jerritt Canyon Gold LLC ('JCG'), an indirect, wholly owned subsidiary of the company. Jerritt Canyon consists of the SSX Mine, Smith Mine, West Generator Mine, Murray Mine and various infrastructure supporting exploration and potential mining activities.

Jerritt Canyon is located in Elko County, northeastern Nevada.

Jerritt Canyon operations are located on a combination of public and private lands, with the deposits and mining related surface facilities being located primarily on mining claims in United States Forest Service land within the Humboldt-Toiyabe National Forest.

The Jerritt Canyon district is located in the Great Basin geological province, north and northeast of the Carlin Trend of gold deposits.

Jerritt Canyon is a Carlin-type gold deposit, hydrothermal in origin and usually structurally controlled with specific lithologies as favorable host rock.

Non-Material Properties

San Martín Silver Mine, Jalisco State, Mexico

The San Martín Silver Mine (San Martin mine) is an underground silver and gold mine and processing facility in Jalisco State, Mexico, approximately 250 km north of the state capital city of Guadalajara, and owned by the company's wholly owned indirect subsidiary, Minera El Pilón, S.A. de C.V.

Del Toro Silver Mine, Zacatecas State, Mexico

The Del Toro Silver Mine (Del Toro mine) is an underground silver, lead and zinc mine and processing facility located in Zacatecas State, Mexico, approximately 150 km northwest of the state capital city of Zacatecas, and is owned by the company's wholly owned indirect subsidiary, First Majestic Del Toro S.A. de C.V. The company operated the mine from 2004 until 21 January 2020 when mining operations were placed on temporary suspension.

The Del Toro mine includes three main independent underground mining areas which are accessed via surface portals, the San Juan mine, the Dolores mine and the Perseverancia mine.

History

The company was incorporated pursuant to the company Act (British Columbia) in 1979. It was formerly known as Brandy Resources Inc. and changed its name to Vital Pacific Resources Ltd. in 1984. Further, the company changed its name to First Majestic Silver Corp. in 2006.

First Majestic Silver Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**revenues by sector:** - silver production: approx. 70% - gold production: approx. 25% - other metals and by-products: approx. 5% **top 3 markets and their percentage shares:** - usa: approx. 40% - canada: approx. 30% - mexico: approx. 20% first majestic silver corp. generates the majority of its...

At which locations are the company’s products manufactured?

**production sites:** - **mexico:** san dimas, santa elena, la encantada - **usa:** jerritt canyon (nevada) first majestic silver corp. is a significant silver producer that mainly operates in mexico. the company's key mines are located in san dimas, santa elena, and la encantada. furthermore,...

What strategy does First Majestic Silver pursue for future growth?

**revenue growth:** estimate 8-10% annually (2025-2027) first majestic silver corp. pursues a growth strategy focusing on increasing production and optimizing existing mines. the company plans to enhance its production capacities through technological improvements and efficiency enhancements in its...

Which raw materials are imported and from which countries?

**main raw materials:** silver, gold **imported materials:** chemicals, machinery, spare parts **countries of origin:** usa, mexico, canada first majestic silver corp. is primarily engaged in the production of silver and gold, operating mines mainly in mexico. most raw materials, such as silver a...

How strong is the company’s competitive advantage?

**silver production:** 30 million ounces (2024, estimated) **cost per ounce:** $14.50 (2024, estimated) **market share:** 4% of the global silver market (2024, estimated) first majestic silver corp. has established itself as one of the significant players in the silver market. the company'...

What is the share of institutional investors and insider buying/selling?

**institutional investor share:** approximately 30% (estimated for 2025) **insider buys/sells:** no specific data available for 2025, but moderate activity in the previous year. the institutional investor share at first majestic silver corp. typically stands around 30%, based on historical data a...

What percentage market share does First Majestic Silver have?

**market share of first majestic silver corp.:** 5% (estimated, 2025) **top competitors and their market shares:** 1. fresnillo plc: 15% 2. pan american silver corp.: 12% 3. wheaton precious metals corp.: 10% 4. hecla mining company: 8% 5. coeur mining, inc.: 7% 6. first majestic silver corp.: 5% 7...

Is First Majestic Silver stock currently a good investment?

**silver production:** 30 million ounces (2024) **revenue growth:** 10% (2024) **operating cash flow:** $150 million usd (2024) first majestic silver corp. achieved a silver production of 30 million ounces in 2024, providing a solid foundation for future revenue. the company experienced a revenue g...

Does First Majestic Silver pay a dividend – and how reliable is the payout?

**dividend payment:** yes, first majestic silver corp. pays a dividend. **dividend yield:** approximately 1.5% (2025, estimated). **reliability:** moderate, dependent on silver prices and company earnings. first majestic silver corp. has started paying a dividend in recent years, but it is heav...

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First Majestic Silver Stock Value

First Majestic Silver Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does First Majestic Silver do?

First Majestic Silver Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

First Majestic Silver Stock Value

First Majestic Silver Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does First Majestic Silver do?

First Majestic Silver Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.