First Majestic Silver Corp

Description

First Majestic Silver Corp is a multi-mine primary silver producer operating four underground mines in Mexico, Santa Elena, Los Gatos (70% joint venture), San Dimas and La Encantada and is restarting the past-producing Jerritt Canyon gold mine in Nevada, USA, targeted for H2 2027. The company updated 2026 guidance upward mid-year to 14.6-15.5 million oz silver and 128,000-135,000 oz gold, a 10% and 7% increase respectively from original guidance.

Updated AISC guidance for 2026 is US$27.69-28.77 per consolidated payable AgEq ounce (US$26.86-27.88/oz excluding non-cash items). The company's 2025 mineral reserve and resource update added 27.4 million silver-equivalent ounces, reflecting continued exploration success across its Mexican operations. Jerritt Canyon adds a second material asset and jurisdiction, providing production diversification beyond the current Mexico-concentrated portfolio.

List of projects
1. Santa Elena Silver/Gold Mine — 100% interest, Sonora, Mexico; metals: Silver, Gold.
2. Los Gatos Silver Mine — 70% interest (joint venture), Mexico; metals: Silver, Zinc, Lead.
3. San Dimas Silver/Gold Mine — 100% interest, Mexico; metals: Silver, Gold.
4. La Encantada Silver Mine — 100% interest, Mexico; metals: Silver.
5. Jerritt Canyon Gold Mine — 100% interest, Nevada, USA (restart, targeted H2 2027); metals: Gold.

Weakness

List of projects

Project details have not been added yet.

Deep dive series

Track progress timeline

Forecast share price