TSX:FR

Stock Analysis Report

First Majestic Silver

Executive Summary

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico.

Snowflake

Fundamentals

Mediocre balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has First Majestic Silver's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

10.5%

FR

0.1%

CA Metals and Mining

-0.2%

CA Market


1 Year Return

65.0%

FR

12.3%

CA Metals and Mining

1.1%

CA Market

Return vs Industry: FR exceeded the Canadian Metals and Mining industry which returned 12.3% over the past year.

Return vs Market: FR exceeded the Canadian Market which returned 1.1% over the past year.


Shareholder returns

FRIndustryMarket
7 Day10.5%0.1%-0.2%
30 Day0.3%-5.2%-3.3%
90 Day2.4%-4.8%-1.6%
1 Year65.0%65.0%13.2%12.3%4.6%1.1%
3 Year25.0%25.0%-11.5%-13.1%13.1%3.1%
5 Year87.2%87.2%7.5%3.4%24.7%6.7%

Price Volatility Vs. Market

How volatile is First Majestic Silver's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Majestic Silver undervalued compared to its fair value and its price relative to the market?

43.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FR (CA$13.46) is trading below our estimate of fair value (CA$23.83)

Significantly Below Fair Value: FR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FR is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.

PE vs Market: FR is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FR is overvalued based on its PB Ratio (3.2x) compared to the CA Metals and Mining industry average (1.3x).


Next Steps

Future Growth

How is First Majestic Silver forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

84.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: FR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: FR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: FR's revenue (19.9% per year) is forecast to grow faster than the Canadian market (5.7% per year).

High Growth Revenue: FR's revenue (19.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FR's Return on Equity is forecast to be low in 3 years time (4.3%).


Next Steps

Past Performance

How has First Majestic Silver performed over the past 5 years?

-16.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: FR is unprofitable, and losses have increased over the past 5 years at a rate of -16.9% per year.

Accelerating Growth: Unable to compare FR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: FR is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-13.7%).


Return on Equity

High ROE: FR has a negative Return on Equity (-26.18%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: FR is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: FR is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is First Majestic Silver's financial position?


Financial Position Analysis

Short Term Liabilities: FR's short term assets ($190.2M) exceeds its short term liabilities ($60.7M)

Long Term Liabilities: FR's short term assets (190.2M) do not cover its long term liabilities (271.1M)


Debt to Equity History and Analysis

Debt Level: FR's debt to equity ratio (24.5%) is considered satisfactory

Reducing Debt: FR's debt to equity ratio has increased from 12.1% to 24.5% over the past 5 years.


Balance Sheet

Inventory Level: FR has a high level of physical assets or inventory.

Debt Coverage by Assets: FR's debt is covered by short term assets (assets are 1.212620x debt).


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.

Stable Cash Runway: FR has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if FR has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is First Majestic Silver's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.0%markettop25%6.0%industryaverage1.2%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate FR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate FR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if FR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FR's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

What is the CEO of First Majestic Silver's salary, the management and board of directors tenure and is there insider trading?

12.2yrs

Average management tenure


CEO

Keith Neumeyer (59yo)

17.9yrs

Tenure

US$1,671,990

Compensation

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  ...


CEO Compensation Analysis

Compensation vs. Market: Keith's total compensation ($USD1.67M) is about average for companies of similar size in the Canadian market ($USD2.24M).

Compensation vs Earnings: Keith's compensation has been consistent with company performance over the past year.


Management Age and Tenure

12.2yrs

Average Tenure

Experienced Management: FR's management team is seasoned and experienced (12.2 years average tenure).


Board Age and Tenure

13.8yrs

Average Tenure

67yo

Average Age

Experienced Board: FR's board of directors are seasoned and experienced ( 13.8 years average tenure).


Insider Trading

Insider Buying: FR insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

BuyUS$59,25030 Sep 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares5,000
Max PriceUS$11.85
BuyUS$93,75018 Sep 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares7,500
Max PriceUS$12.50
BuyUS$142,64109 Sep 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares11,166
Max PriceUS$12.90
SellUS$430,50014 Aug 19
Raymond Polman
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares30,000
Max PriceUS$14.35
SellUS$29,82009 Aug 19
Karen Liu
EntityIndividual
Role
Treasurer
VP of Treasury & Corporate Controller
Shares2,130
Max PriceUS$14.00
SellUS$92,62508 Aug 19
Robert McCallum
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares6,500
Max PriceUS$14.25
SellUS$331,97108 Aug 19
David Shaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares23,611
Max PriceUS$14.06
SellUS$183,75007 Aug 19
Jill Arias
EntityIndividual
Role
Head of Marketing
Vice President of Marketing
Shares15,000
Max PriceUS$12.25
SellUS$154,50022 Jul 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares12,500
Max PriceUS$12.36
SellUS$317,09819 Jul 19
Raymond Polman
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares25,135
Max PriceUS$13.00
SellUS$63,75018 Jul 19
Marjorie Co
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,000
Max PriceUS$12.75
SellUS$742,50018 Jul 19
Ramon Mendoza Reyes
EntityIndividual
Role
Chief Operating Officer
Interim VP of Operations & Technical Services
Shares67,500
Max PriceUS$11.00
SellUS$88,57517 Jul 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares7,500
Max PriceUS$11.81
SellUS$346,68017 Jul 19
Douglas Penrose
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares30,000
Max PriceUS$11.57
SellUS$99,65816 Jul 19
Robert McCallum
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares9,000
Max PriceUS$11.08
SellUS$7,056,64511 Jul 19
Wheaton Precious Metals Corp.
EntityCompany
Shares675,000
Max PriceUS$10.73
SellUS$157,87026 Jun 19
Raymond Polman
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares15,000
Max PriceUS$10.53
SellUS$210,17026 Jun 19
David Shaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20,000
Max PriceUS$10.52
SellUS$66,15012 Jun 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares7,500
Max PriceUS$8.82
SellUS$83,10010 Jun 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares10,000
Max PriceUS$8.31
SellUS$131,25006 Jun 19
Raymond Polman
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares15,000
Max PriceUS$8.75
BuyUS$176,16114 May 19
Vinita Piper
EntityIndividual
Shares22,055
Max PriceUS$7.99
SellUS$79,10023 Apr 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares10,000
Max PriceUS$7.91
SellUS$66,10031 Mar 19
David Shaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max PriceUS$6.61
BuyUS$17,82028 Mar 19
Raymond Polman
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares2,000
Max PriceUS$8.91
SellUS$286,56325 Mar 19
Raymond Polman
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares31,250
Max PriceUS$9.17
SellUS$187,00022 Mar 19
Robert McCallum
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20,000
Max PriceUS$9.35
SellUS$87,10011 Mar 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares10,000
Max PriceUS$8.71
BuyUS$106,93007 Feb 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares15,000
Max PriceUS$7.77
BuyUS$40,40006 Feb 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares5,000
Max PriceUS$8.08
BuyUS$38,20030 Jan 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares5,000
Max PriceUS$7.64
BuyUS$35,00024 Jan 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares5,000
Max PriceUS$7.00
BuyUS$105,65016 Jan 19
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares15,000
Max PriceUS$7.15
BuyUS$29,96316 Jan 19
Keith Neumeyer
EntityIndividual
Role
Chief Executive Officer
President
Shares4,250
Max PriceUS$7.05
SellUS$64,65004 Dec 18
David Shaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max PriceUS$6.47
SellUS$114,90025 Oct 18
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares15,000
Max PriceUS$7.66
SellUS$163,00022 Oct 18
Todd Anthony
EntityIndividual
Role
Head of Corporate Development
Vice President of Corporate Development
Shares20,000
Max PriceUS$8.15

Ownership Breakdown


Management Team

  • Keith Neumeyer (59yo)

    President

    • Tenure: 17.9yrs
    • Compensation: US$1.67m
  • Raymond Polman (59yo)

    Chief Financial Officer

    • Tenure: 12.7yrs
    • Compensation: US$733.67k
  • Connie Lillico

    Corporate Secretary

    • Tenure: 12.2yrs
    • Compensation: US$693.78k
  • Jill Arias

    Vice President of Marketing

    • Tenure: 15yrs
  • Karen Liu

    VP of Treasury & Corporate Controller

    • Tenure: 0yrs
  • Arturo Diaz

    Vice President of Administration

    • Tenure: 0yrs
  • Todd Anthony

    Vice President of Corporate Development

    • Tenure: 0yrs
  • Ramon Mendoza Reyes

    Interim VP of Operations & Technical Services

    • Tenure: 0.4yrs
    • Compensation: US$425.15k
  • Sophie Hsia

    General Counsel & VP of Information Technology

    • Tenure: 0.3yrs
  • Greg Kulla

    Vice President of Exploration

    • Tenure: 1.3yrs

Board Members

  • Robert McCallum (82yo)

    Independent Director

    • Tenure: 13.8yrs
    • Compensation: US$234.10k
  • Keith Neumeyer (59yo)

    President

    • Tenure: 17.9yrs
    • Compensation: US$1.67m
  • David Shaw (67yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$224.68k
  • Douglas Penrose (71yo)

    Independent Chairman of the Board

    • Tenure: 7.8yrs
    • Compensation: US$338.33k
  • Marjorie Co (50yo)

    Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$213.10k

Company Information

First Majestic Silver Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Majestic Silver Corp.
  • Ticker: FR
  • Exchange: TSX
  • Founded: 1979
  • Industry: Silver
  • Sector: Materials
  • Market Cap: CA$2.738b
  • Shares outstanding: 203.41m
  • Website: https://www.firstmajestic.com

Number of Employees


Location

  • First Majestic Silver Corp.
  • 925 West Georgia Street
  • Suite 1800
  • Vancouver
  • British Columbia
  • V6C 3L2
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRTSX (The Toronto Stock Exchange)YesCommon SharesCACADSep 1982
AGNYSE (New York Stock Exchange)YesCommon SharesUSUSDSep 1982
FMVDB (Deutsche Boerse AG)YesCommon SharesDEEURSep 1982
FMVXTRA (XETRA Trading Platform)YesCommon SharesDEEURSep 1982
0QYCLSE (London Stock Exchange)YesCommon SharesGBCADSep 1982

Biography

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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 00:04
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.