First Majestic Silver

Analysts Boost Price Target for First Majestic Silver Amid Upgraded Growth and Profit Forecasts

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

16 Jul 25

Updated

05 Dec 25

Views

538

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

163.0%

7D

3.5%

Loading

1Y

163.0%

7D

3.5%

You can edit this narrative until Dec 6 11:05 PM. Then, changes will post as Updates.

Author's Valuation

CA$215.2% overvalued

AnalystConsensusTarget Fair Value

Shared on 05 Dec 25

Fair value Decreased 5.62%

AG: Share Buybacks And Convertible Notes Will Shape A Balanced Outlook

Analysts have trimmed their 12 month price target for First Majestic Silver from approximately $22.25 to $21.00 per share, citing a slightly higher discount rate and modestly lower valuation multiple assumptions, despite marginal improvements to long term growth and margin forecasts. What's in the News Announced a $300 million private placement of unsecured convertible senior notes due 2031, with a 0.125% annual cash coupon, a conversion price of $22.36, and an additional $50 million over allotment option.

Shared on 21 Nov 25

Fair value Decreased 1.11%

AG: Upcoming Exploration Results Will Unlock Significant Upside Potential

Analysts have slightly lowered their price target for First Majestic Silver from $22.50 to $22.25. This change reflects a shift in revenue growth and profit margin forecasts.

Shared on 07 Nov 25

Fair value Decreased 3.23%

AG: Upcoming Exploration Results Will Drive Further Upside Momentum

First Majestic Silver's analyst price target has been revised downward from $23.25 to $22.50, as analysts cite more conservative forecasts for revenue growth and profit margins in their updated outlook. What's in the News The company reported third quarter 2025 production results, processing 997,002 tonnes of ore, a 47% increase, and producing 7,651,058 silver equivalent ounces, up 39% from the previous year (Company Announcement).

Shared on 23 Oct 25

Fair value Increased 10%

Analysts have raised their price target for First Majestic Silver from $21.13 to $23.25, citing improved growth prospects and stronger profitability forecasts. What's in the News Reported a 47% increase in ore processed and a 39% rise in silver equivalent ounces produced in Q3 2025 compared to the previous year (Announcement of Operating Results) Silver production nearly doubled year over year, reaching 3,863,673 ounces.

Shared on 09 Oct 25

Fair value Increased 32%

Analysts have raised their price target for First Majestic Silver from $16.00 to $21.13. They cite expectations of stronger revenue growth and a slightly increased discount rate, despite a modest dip in projected profit margin.

Shared on 25 Sep 25

Fair value Increased 8.47%

The upward revision in First Majestic Silver’s price target reflects a substantial improvement in net profit margin and a sharply lower future P/E, supporting an increased fair value from CA$14.75 to CA$16.00. What's in the News Positive drilling results at Los Gatos Silver Mine extend known mineralization, with the system remaining open along strike to the northwest.

Shared on 06 Sep 25

Fair value Increased 6.31%

The consensus price target for First Majestic Silver has risen to CA$14.75, primarily reflecting a much higher future P/E ratio, which suggests increased optimism about the company’s growth prospects despite steady discount rates. What's in the News Positive drilling results at San Dimas confirmed and expanded mineralization, upgrading Inferred to Indicated Mineral Resources and identifying new high-grade targets, including the unexplored Coronado vein.

Shared on 15 Aug 25

Fair value Increased 13%

The notable increase in the consensus Analyst Price Target for First Majestic Silver to CA$13.88 reflects stronger profitability, as evidenced by a higher net profit margin and a substantial decline in the forward P/E ratio. What's in the News First Majestic Silver provided 2025 production guidance: silver 14.8–15.8M oz, gold 135–144K oz, lead 33–35M lbs, zinc 52–56M lbs, and silver equivalent 30.6–32.6M oz.

AnalystConsensusTarget Fair Value

CA$21

5.2% overvalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

7.41%

Metals and Mining revenue growth rate

17.68%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

7.20%

Calculation

US$233.35m

Earnings '28

x

41.05x

PE Ratio '28

=

US$9.58b

Market Cap '28

US$9.58b

Market Cap '28

/

513.28m

No. shares '28

=

US$18.66

Share Price '28

US$18.66 Share Price '28

Discounted to 2025 @ 7.21% p.a.

=

US$15.14

Fair Value '25

US$15.14 Fair Value '25

Converted to CAD @ 1.3860 USD/CAD Exchange Rate

=

CA$20.98

Fair Value '25