First Majestic Silver
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. The last earnings update was 103 days ago. More info.
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FR Share Price and Events
7 Day Returns
1 Year Returns
FR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| First Majestic Silver (FR) | 2.6% | 19.6% | 17% | 12.7% | 37.5% | -38.6% |
| CA Metals and Mining | -2.2% | 5.7% | 9.3% | -12.4% | 18.9% | -28% |
| CA Market | -0.4% | 3.7% | 2.3% | -1.1% | 20.3% | 4.2% |
1 Year Return vs Industry and Market
- FR outperformed the Metals and Mining industry which returned -12.4% over the past year.
- FR outperformed the Market in Canada which returned -1.1% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
First Majestic Silver
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for First Majestic Silver.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 4 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 12.6% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 8.1% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.21 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.21 (1 + (1- 26.5%) (12.81%)) |
1.324 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.32 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.324 * 8.05%) |
12.61% |
Discounted Cash Flow Calculation for TSX:FR using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for First Majestic Silver is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (USD, Millions) | -29.05 | 66.35 | 67.64 | 68.95 | 70.28 |
| Source | Analyst x3 | Analyst x1 | Est @ 1.94% | Est @ 1.94% | Est @ 1.94% |
|
Present Value Discounted (@ 12.61%) |
-25.80 | 52.32 | 47.36 | 42.88 | 38.82 |
| Present value of next 5 years cash flows | $155.58 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $70.28 × (1 + 1.95%) ÷ (12.61% – 1.95%) |
$672.07 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $672.07 ÷ (1 + 12.61%)5 |
$371.15 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $155.58 + $371.15 |
$526.73 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $526.73 / 193.87 |
$2.72 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/CAD
(Reporting currency to currency of TSX:FR) |
1.328 |
| Value per Share (CAD) |
= Value per Share in USD x Exchange Rate (USD/CAD)
= $2.72 x 1.328 |
CA$3.61 |
| Value per share (CAD) | From above. | CA$3.61 |
| Current discount | Discount to share price of
CA$8.18
= -1 x (CA$8.18 - CA$3.61) / CA$3.61 |
-126.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of First Majestic Silver is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for First Majestic Silver's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
First Majestic Silver's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-09-30) in USD | $-0.54 |
| TSX:FR Share Price ** | TSX (2019-02-15) in CAD | CA$8.18 |
| TSX:FR Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.753 | $6.16 |
| Canada Metals and Mining Industry PE Ratio | Median Figure of 125 Publicly-Listed Metals and Mining Companies | 10.35x |
| Canada Market PE Ratio | Median Figure of 559 Publicly-Listed Companies | 14.87x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of First Majestic Silver.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:FR Share Price ÷ EPS (both in USD) = 6.16 ÷ -0.54 |
-11.36x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- First Majestic Silver is loss making, we can't compare its value to the CA Metals and Mining industry average.
- First Majestic Silver is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does
First Majestic Silver's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -11.36x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
89.6%per year |
| Canada Metals and Mining Industry PEG Ratio | Median Figure of 44 Publicly-Listed Metals and Mining Companies | 0.42x |
| Canada Market PEG Ratio | Median Figure of 261 Publicly-Listed Companies | 0.96x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for First Majestic Silver, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
First Majestic Silver's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in USD | $3.91 |
| TSX:FR Share Price * | TSX (2019-02-15) in CAD | CA$8.18 |
| TSX:FR Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.753 | $6.16 |
| Canada Metals and Mining Industry PB Ratio | Median Figure of 1,076 Publicly-Listed Metals and Mining Companies | 1.42x |
| Canada Market PB Ratio | Median Figure of 2,329 Publicly-Listed Companies | 1.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:FR Share Price ÷ Book Value per Share (both in USD) = 6.16 ÷ 3.91 |
1.58x |
* Primary Listing of First Majestic Silver.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- First Majestic Silver is overvalued based on assets compared to the CA Metals and Mining industry average.
Value checks
We assess First Majestic Silver's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) First Majestic Silver has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- First Majestic Silver's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
- First Majestic Silver's earnings growth is expected to exceed the Canada market average.
- First Majestic Silver's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:FR Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 89.6% |
| TSX:FR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 21.3% |
| Canada Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 36.1% |
| Canada Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 7.8% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 16.9% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | ||||
| 2021-12-31 | ||||
| 2020-12-31 | 459 | 19 | 2 | |
| 2019-12-31 | 419 | 88 | -15 | 4 |
| 2018-12-31 | 315 | 57 | -48 | 4 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 288 | 36 | -96 |
| 2018-06-30 | 261 | 52 | -103 |
| 2018-03-31 | 242 | 62 | -62 |
| 2017-12-31 | 252 | 70 | -53 |
| 2017-09-30 | 257 | 87 | 5 |
| 2017-06-30 | 275 | 99 | 14 |
| 2017-03-31 | 281 | 96 | 19 |
| 2016-12-31 | 278 | 100 | 9 |
| 2016-09-30 | 278 | 81 | -96 |
| 2016-06-30 | 243 | 65 | -106 |
| 2016-03-31 | 231 | 72 | -115 |
| 2015-12-31 | 219 | 56 | -108 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from First Majestic Silver Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | ||||
| 2021-12-31 | ||||
| 2020-12-31 | 0.18 | 0.18 | 0.18 | 1.00 |
| 2019-12-31 | 0.01 | 0.09 | -0.06 | 2.00 |
| 2018-12-31 | -0.26 | -0.25 | -0.27 | 3.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-09-30 | -0.54 |
| 2018-06-30 | -0.61 |
| 2018-03-31 | -0.37 |
| 2017-12-31 | -0.32 |
| 2017-09-30 | 0.03 |
| 2017-06-30 | 0.09 |
| 2017-03-31 | 0.11 |
| 2016-12-31 | 0.05 |
| 2016-09-30 | -0.61 |
| 2016-06-30 | -0.72 |
| 2016-03-31 | -0.83 |
| 2015-12-31 | -0.84 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- First Majestic Silver is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess First Majestic Silver's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
First Majestic Silver has a total score of 5/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has First Majestic Silver performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- First Majestic Silver does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
- Unable to compare First Majestic Silver's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare First Majestic Silver's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
All data from First Majestic Silver Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-09-30 | 287.97 | -95.81 | 27.72 | |
| 2018-06-30 | 261.35 | -103.03 | 27.14 | |
| 2018-03-31 | 241.78 | -61.58 | 26.34 | |
| 2017-12-31 | 252.29 | -53.27 | 25.79 | |
| 2017-09-30 | 257.29 | 4.63 | 25.93 | |
| 2017-06-30 | 274.72 | 14.06 | 25.05 | |
| 2017-03-31 | 280.67 | 18.75 | 23.96 | |
| 2016-12-31 | 278.08 | 8.60 | 22.15 | |
| 2016-09-30 | 277.92 | -96.17 | 21.54 | |
| 2016-06-30 | 243.27 | -106.07 | 20.79 | |
| 2016-03-31 | 231.38 | -114.75 | 21.00 | |
| 2015-12-31 | 219.44 | -108.42 | 21.93 | |
| 2015-09-30 | 225.91 | -70.03 | 21.56 | |
| 2015-06-30 | 222.01 | -78.70 | 23.20 | |
| 2015-03-31 | 234.75 | -68.53 | 25.04 | |
| 2014-12-31 | 245.47 | -61.45 | 26.71 | |
| 2014-09-30 | 231.98 | -78.11 | 31.05 | |
| 2014-06-30 | 268.09 | -51.34 | 32.88 | |
| 2014-03-31 | 249.54 | -58.77 | 35.29 | |
| 2013-12-31 | 251.31 | -38.23 | 39.37 | |
| 2013-09-30 | 263.33 | 65.35 | 40.17 | |
| 2013-06-30 | 250.03 | 73.90 | 39.41 | |
| 2013-03-31 | 256.43 | 89.06 | 36.89 | |
| 2012-12-31 | 247.18 | 88.90 | 32.42 | |
| 2012-09-30 | 236.97 | 87.89 | 28.89 | |
| 2012-06-30 | 234.80 | 90.79 | 25.94 | |
| 2012-03-31 | 248.06 | 106.06 | 23.56 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if First Majestic Silver has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- It is difficult to establish if First Majestic Silver has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
- It is difficult to establish if First Majestic Silver improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess First Majestic Silver's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
First Majestic Silver has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is First Majestic Silver's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up First Majestic Silver's finances.
The net worth of a company is the difference between its assets and liabilities.
- First Majestic Silver is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- First Majestic Silver's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from First Majestic Silver Company Filings, last reported 4 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 756.37 | 152.95 | 79.67 |
| 2018-06-30 | 747.61 | 154.16 | 118.06 |
| 2018-03-31 | 597.62 | 163.50 | 257.93 |
| 2017-12-31 | 582.49 | 41.07 | 129.47 |
| 2017-09-30 | 635.89 | 43.40 | 132.74 |
| 2017-06-30 | 633.15 | 45.42 | 138.48 |
| 2017-03-31 | 629.11 | 46.97 | 141.02 |
| 2016-12-31 | 621.70 | 52.12 | 142.74 |
| 2016-09-30 | 620.86 | 57.48 | 139.39 |
| 2016-06-30 | 598.03 | 63.40 | 120.80 |
| 2016-03-31 | 540.30 | 65.53 | 68.69 |
| 2015-12-31 | 544.72 | 63.19 | 56.72 |
| 2015-09-30 | 542.64 | 53.80 | 28.37 |
| 2015-06-30 | 542.97 | 65.00 | 40.21 |
| 2015-03-31 | 521.04 | 73.66 | 24.97 |
| 2014-12-31 | 520.53 | 82.86 | 42.81 |
| 2014-09-30 | 584.06 | 97.44 | 37.52 |
| 2014-06-30 | 592.99 | 103.55 | 70.12 |
| 2014-03-31 | 582.77 | 72.29 | 45.05 |
| 2013-12-31 | 570.75 | 80.51 | 58.14 |
| 2013-09-30 | 649.04 | 74.63 | 71.50 |
| 2013-06-30 | 626.39 | 73.88 | 82.76 |
| 2013-03-31 | 624.97 | 71.88 | 115.87 |
| 2012-12-31 | 593.53 | 73.88 | 118.83 |
| 2012-09-30 | 565.71 | 19.85 | 80.70 |
| 2012-06-30 | 397.21 | 20.88 | 81.80 |
| 2012-03-31 | 379.44 | 16.02 | 96.01 |
- First Majestic Silver's level of debt (20.2%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (11.5% vs 20.2% today).
CASH RUNWAY ANALYSIS
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
- First Majestic Silver has sufficient cash runway for 1.2 years based on current free cash flow.
- First Majestic Silver has sufficient cash runway for 1.1 years if free cash flow continues to grow at historical rates of 86.4% each year.
Financial health checks
We assess First Majestic Silver's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) First Majestic Silver has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is First Majestic Silver's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
CA$2,000 of
First Majestic Silver
shares you are expected to receive
CA$0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate First Majestic Silver's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate First Majestic Silver's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Canada Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 27 Stocks | 1.2% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 329 Stocks | 3.6% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.9% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-12-31 | ||
| 2021-12-31 | ||
| 2020-12-31 | ||
| 2019-12-31 | ||
| 2018-12-31 | 0.00 | 1.00 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as First Majestic Silver has not reported any payouts.
- Unable to verify if First Majestic Silver's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess First Majestic Silver's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can First Majestic Silver afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) First Majestic Silver has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $1,870,780 |
| AGE | 58 |
| TENURE AS CEO | 17.3 years |
CEO Bio
Mr. Keith N. Neumeyer Founded First Majestic Silver Corp. in 2002 (formerly, First Majestic Resources Corp.) and has been its Chief Executive Officer and President since November 3, 2001. Mr. Neumeyer has been the President and Chief Executive Officer of First Silver Reserve Inc. since June 19, 2006. He has an extensive experience dealing with the financial, regulatory, legal and accounting issues. Mr. Neumeyer has also listed a number of companies on the Toronto Stock Exchange and as such has extensive experience dealing with the financial, regulatory, legal and accounting issues that are relevant in the investment community. He served in the investment community for 28 years beginning his career at a number of Canadian national brokerage firms and continued on with McLeod Young Weir (now Scotia McLeod), then Richardson Greenshields and then Walwyn Stogell McCuthchen (which became Midland Walwyn). Mr. Neumeyer moved on to work with several publically traded companies in the resource and high technology sectors. His roles have included senior management positions and directorships responsible in areas of finance, business development, strategic planning and corporate restructuring. He was a co-founder and President of First Quantum Minerals Ltd. (T-FM). Mr. Neumeyer is the Founder of First Mining Finance Corp. and has been its Chairman of the Board since March 2013. He served as Chairman at Albion Petroleum Ltd. He has been a Director of KCP Minerals Inc.(Formerly Sundance Minerals Ltd.) since September 2014 and First Silver Reserve Inc. since June 19, 2006. He has been a Director of First Majestic Silver Corp. since December 5, 1998. He has been the Chairman and Director at First Mining Gold Corp. since March 31, 2015. He has been a Director of First Mining Finance Corp. since March 30, 2015. Mr. Neumeyer served as a Director of Dundarave Resources Inc. (formerly, Jaba Exploration Inc.) from November 3, 2003 to July 31, 2006.
CEO Compensation
- Keith's compensation has been consistent with company performance over the past year.
- Keith's remuneration is about average for companies of similar size in Canada.
Management Team Tenure
Average tenure and age of the First Majestic Silver management team in years:
- The average tenure for the First Majestic Silver management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Keith Neumeyer
President
$2M
58
17.3 yrs
Raymond Polman
Chief Financial Officer
$801K
58
12 yrs
Dustin VanDoorselaere
Chief Operating Officer
$747K
1.9 yrs
Martin Palacios
Chief Transformation Officer
$789K
54
3.8 yrs
Ramon Mendoza Reyes
Vice President of Technical Services
4.8 yrs
Arturo Diaz
Vice President of Administration
Jill Arias
Vice President of Marketing
14.3 yrs
Todd Anthony
Vice President of Corporate Development
Greg Kulla
Vice President of Exploration
0.6 yrs
Connie Lillico
Corporate Secretary
$694K
11.5 yrs
Board of Directors Tenure
Average tenure and age of the First Majestic Silver board of directors in years:
- The average tenure for the First Majestic Silver board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Douglas Penrose
Chairman of the Board
$335K
70
7.1 yrs
Keith Neumeyer
President
$2M
58
20.2 yrs
David Shaw
Director
$218K
66
14.1 yrs
Robert McCallum
Independent Director
$231K
81
13.2 yrs
Marjorie Co
Director
$188K
49
1.9 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by First Majestic Silver insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 07. Feb 19 | Buy | Todd Anthony | Individual | 22. Jan 19 | 07. Feb 19 | 15,000 | CA$7.77 | CA$106,930 | ||
| 06. Feb 19 | Buy | Todd Anthony | Individual | 06. Feb 19 | 06. Feb 19 | 5,000 | CA$8.08 | CA$40,400 | ||
| 30. Jan 19 | Buy | Todd Anthony | Individual | 30. Jan 19 | 30. Jan 19 | 5,000 | CA$7.64 | CA$38,200 | ||
| 24. Jan 19 | Buy | Todd Anthony | Individual | 24. Jan 19 | 24. Jan 19 | 5,000 | CA$7.00 | CA$35,000 | ||
| 16. Jan 19 | Buy | Todd Anthony | Individual | 16. Jan 19 | 16. Jan 19 | 15,000 | CA$7.15 | CA$105,650 | ||
| 16. Jan 19 | Buy | Keith Neumeyer | Individual | 16. Jan 19 | 16. Jan 19 | 4,250 | CA$7.05 | CA$29,963 | ||
| 04. Dec 18 | Sell | David Shaw | Individual | 03. Dec 18 | 03. Dec 18 | -10,000 | CA$6.47 | CA$-64,650 | ||
| 25. Oct 18 | Sell | Todd Anthony | Individual | 25. Oct 18 | 25. Oct 18 | -15,000 | CA$7.66 | CA$-114,900 | ||
| 22. Oct 18 | Sell | Todd Anthony | Individual | 22. Oct 18 | 22. Oct 18 | -20,000 | CA$8.15 | CA$-163,000 | ||
| 16. Oct 18 | Sell | Todd Anthony | Individual | 16. Oct 18 | 16. Oct 18 | -40,000 | CA$8.30 | CA$-330,500 | ||
| 18. Sep 18 | Sell | Robert McCallum | Individual | 18. Sep 18 | 18. Sep 18 | -13,000 | CA$7.50 | CA$-97,500 | ||
| 23. Aug 18 | Buy | Todd Anthony | Individual | 23. Aug 18 | 23. Aug 18 | 2,500 | CA$6.90 | CA$17,250 | ||
| 21. Aug 18 | Buy | Dustin VanDoorselaere | Individual | 21. Aug 18 | 21. Aug 18 | 1,400 | CA$7.19 | CA$10,066 | ||
| 21. Aug 18 | Sell | Robert McCallum | Individual | 20. Aug 18 | 21. Aug 18 | -4,000 | CA$6.94 | CA$-27,723 | ||
| 20. Aug 18 | Buy | Marjorie Co | Individual | 17. Aug 18 | 17. Aug 18 | 5,926 | CA$6.75 | CA$40,000 | ||
| 15. Aug 18 | Buy | Todd Anthony | Individual | 15. Aug 18 | 15. Aug 18 | 5,000 | CA$6.75 | CA$33,750 | ||
| 14. Aug 18 | Buy | Todd Anthony | Individual | 13. Aug 18 | 13. Aug 18 | 10,000 | CA$7.75 | CA$75,750 | ||
| 24. Jul 18 | Buy | Todd Anthony | Individual | 24. Jul 18 | 24. Jul 18 | 2,500 | CA$8.56 | CA$21,400 | ||
| 24. Jul 18 | Buy | Dustin VanDoorselaere | Individual | 24. Jul 18 | 24. Jul 18 | 1,000 | CA$8.56 | CA$8,560 | ||
| 23. Jul 18 | Buy | Marjorie Co | Individual | 23. Jul 18 | 23. Jul 18 | 2,351 | CA$8.50 | CA$19,983 | ||
| 20. Jul 18 | Buy | Todd Anthony | Individual | 20. Jul 18 | 20. Jul 18 | 2,500 | CA$8.90 | CA$22,250 | ||
| 19. Jul 18 | Buy | Dustin VanDoorselaere | Individual | 19. Jul 18 | 19. Jul 18 | 1,000 | CA$8.90 | CA$8,900 | ||
| 18. Jul 18 | Buy | Todd Anthony | Individual | 18. Jul 18 | 18. Jul 18 | 4,250 | CA$8.98 | CA$38,060 | ||
| 17. Jul 18 | Sell | Robert McCallum | Individual | 17. Jul 18 | 17. Jul 18 | -5,000 | CA$9.09 | CA$-45,450 | ||
| 25. Jun 18 | Sell | Adam McEniry | Individual | 25. Jun 18 | 25. Jun 18 | -5,000 | CA$10.18 | CA$-50,857 | ||
| 14. Jun 18 | Sell | Raymond Polman | Individual | 13. Jun 18 | 13. Jun 18 | -125,000 | CA$10.04 | CA$-1,254,538 | ||
| 16. May 18 | Buy | Todd Anthony | Individual | 10. May 18 | 10. May 18 | 33,250 | CA$8.80 | CA$292,600 | ||
| 17. May 18 | Buy | Andrew Poon | Individual | 10. May 18 | 10. May 18 | 199 | CA$8.80 | CA$1,751 | ||
| 11. May 18 | Buy | Wheaton Precious Metals Corp. | Company | 10. May 18 | 10. May 18 | 20,914,590 | CA$9.02 | CA$188,689,340 | ||
Management checks
We assess First Majestic Silver's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) First Majestic Silver has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Is First Majestic Silver Corp (TSE:FR) A Financially Sound Company?
While small-cap stocks, such as First Majestic Silver Corp (TSE:FR) with its market cap of US$1.65b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … the current state of its operations and pathway to profitability.
Simply Wall St - – Full articleWho Really Owns First Majestic Silver Corp (TSE:FR)?
In this article, I'm going to take a look at First Majestic Silver Corp’s (TSE:FR) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Although this is an important factor for long-term investors, many investors can also be impacted by institutional presence and their high-volume trading. … Check out our latest analysis for First Majestic Silver
Simply Wall St - – Full articleBreaking Down First Majestic Silver Corp's (TSE:FR) Ownership Structure
View our latest analysis for First Majestic Silver TSX:FR Ownership_summary May 15th 18 Institutional Ownership In FR's case, institutional ownership stands at 27.42%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … Thus, investors should dig deeper into FR's business relations with these companies and how it can affect shareholder returns in the long-term.Next Steps: FR's considerably high level of institutional ownership calls for further analysis into its margin of safety.
Simply Wall St - – Full articleIs First Majestic Silver Corp (TSE:FR) A Financially Sound Company?
Additionally, FR has produced US$70.45M in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 171.52%, meaning that FR’s debt is appropriately covered by operating cash. … FR’s level of debt is low relative to its total equity, at 7.05%. … Investors' risk associated with debt is virtually non-existent with FR, and the company has plenty of headroom and ability to raise debt should it need to in the future.Next Steps: FR has demonstrated its ability to generate sufficient levels of cash flow, while its debt hovers at a safe level.
Simply Wall St - – Full articleIs It Too Late To Buy First Majestic Silver Corp (TSE:FR)?
And if you believe First Majestic Silver should be trading in this range, then there isn’t really any room for the share price grow beyond what it’s currently trading. … Since First Majestic Silver’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. … FR’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.
Simply Wall St - – Full articleWhen Can We Expect A Profit From First Majestic Silver Corp (TSE:FR)?
The CA$1.22B market-cap company announced a latest loss of -US$53.27M on 31 December 2017 for its most recent financial year result. … Many investors are wondering the rate at which FR will turn a profit, with the big question being “when will the company breakeven?” In this article, I will touch on the expectations for FR’s growth and when analysts expect the company to become profitable. … They expect the company to post a final loss in 2017, before turning a profit of US$17.84M in 2018.
Simply Wall St - – Full articleValue-Adding Growth Stocks To Buy Now
(TSX:FR) First Majestic Silver Corp. … Profit growth, coupled with top-line expansion, is a positive indication. … TSX:FR Future Profit Dec 23rd 17 Endeavour Silver Corp.
Simply Wall St - – Full articleIs First Majestic Silver Corp (TSE:FR) Undervalued After Accounting For Its Future Growth?
First Majestic Silver Corp (TSX:FR) is considered a high growth stock, but some investors are starting to doubt its last closing price of CA$9.72 can be still justified by the high growth potential. … First Majestic Silver is available at price-to-earnings ratio of 269.48x, showing us it is overvalued based on current earnings compared to the metals and mining industry average of 11.62x , and overvalued compared to the CA market average ratio of 16.83x. … Based on First Majestic Silver's predicted 751.47% growth in earnings next year and PE ratio of 269.48x we see that First Majestic Silver has a quite high PEG ratio of 4.15x.
Simply Wall St - – Full articleCompany Info
Map
Description
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State. The company was formerly known as First Majestic Resource Corp. and changed its name to First Majestic Silver Corp. in November 2006. First Majestic Silver Corp. was founded in 1979 and is headquartered in Vancouver, Canada.
Details
| Name: | First Majestic Silver Corp. |
| FR | |
| Exchange: | TSX |
| Founded: | 1979 |
| CA$1,585,883,880 | |
| 193,873,335 | |
| Website: | http://www.firstmajestic.com |
| Address: |
First Majestic Silver Corp. 925 West Georgia Street, Suite 1800, Vancouver, British Columbia, V6C 3L2, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | FR | Common Shares | The Toronto Stock Exchange | CA | CAD | 30. Sep 1982 | |
| NYSE | AG | Common Shares | New York Stock Exchange | US | USD | 30. Sep 1982 | |
| DB | FMV | Common Shares | Deutsche Boerse AG | DE | EUR | 30. Sep 1982 | |
| XTRA | FMV | Common Shares | XETRA Trading Platform | DE | EUR | 30. Sep 1982 | |
| LSE | 0QYC | Common Shares | London Stock Exchange | GB | CAD | 30. Sep 1982 | |
| BMV | AG * | Common Shares | Bolsa Mexicana de Valores | MX | MXN | 30. Sep 1982 |
Number of employees
Current staff
Industry
| Silver | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/18 02:08 |
| End of day share price update: | 2019/02/15 00:00 |
| Last estimates confirmation: | 2019/02/11 |
| Last earnings filing: | 2018/11/07 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2017/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
