First Majestic Silver (FMV) Stock Overview

Engages in the acquisition, exploration, development, and production of mineral properties in North America. More details

FMV fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

Rewards

Trading at 17.7% below our estimate of its fair value

Earnings are forecast to grow 15.49% per year

Earnings grew by 2258.3% over the past year

Analysts in good agreement that stock price will rise by 26.7%

Risk Analysis

Significant insider selling over the past 3 months

Volatile share price over the past 3 months compared to the German market

FMV Community Fair Values

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First Majestic Silver Corp. Competitors

Price History & Performance

Summary of share price highs, lows and changes for First Majestic Silver
Historical stock prices
Current Share Price	CA$16.71
52 Week High	CA$28.72
52 Week Low	CA$8.35
Beta	2.19
1 Month Change	1.98%
3 Month Change	8.16%
1 Year Change	97.10%
3 Year Change	238.12%
5 Year Change	62.71%
Change since IPO	865.90%

Recent updates

Shareholder Returns

	FMV	DE Metals and Mining	DE Market
7D	-5.3%	1.3%	1.0%
1Y	97.1%	56.1%	4.7%

Return vs Industry: FMV exceeded the German Metals and Mining industry which returned 55.7% over the past year.

Return vs Market: FMV exceeded the German Market which returned 4.9% over the past year.

Price Volatility

Is FMV's price volatile compared to industry and market?
FMV volatility
FMV Average Weekly Movement	8.7%
Metals and Mining Industry Average Movement	8.6%
Market Average Movement	5.0%
10% most volatile stocks in DE Market	11.6%
10% least volatile stocks in DE Market	2.5%

Stable Share Price: FMV's share price has been volatile over the past 3 months compared to the German market.

Volatility Over Time: FMV's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of German stocks.

About the Company

Founded	Employees	CEO	Website
1979	n/a	Keith Neumeyer	www.firstmajestic.com

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties in North America. The company explores for silver and gold deposits. Its projects include the San Dimas silver/gold mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena silver/gold mine that covers an area of approximately 102,244 hectares located in Sonora State, Mexico; the Los Gatos Silver Mine covering an area of approximately 103,000 hectares located in Chihuahua, Mexico; and the La Encantada silver mine that covers an area of approximately 4,076 hectares located in Coahuila State, Mexico.

First Majestic Silver Corp. Fundamentals Summary

How do First Majestic Silver's earnings and revenue compare to its market cap?
FMV fundamental statistics
Market cap	€7.86b
Earnings (TTM)	€302.80m
Revenue (TTM)	€1.43b

27.6x

P/E Ratio

5.8x

P/S Ratio

Is FMV overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FMV income statement (TTM)
Revenue	US$1.64b
Cost of Revenue	US$602.14m
Gross Profit	US$1.04b
Other Expenses	US$691.37m
Earnings	US$347.64m

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	0.71
Gross Margin	63.31%
Net Profit Margin	21.18%
Debt/Equity Ratio	9.0%

How did FMV perform over the long term?

See historical performance and comparison

Dividends

0.1%

Current Dividend Yield

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/17 00:06
End of Day Share Price	2026/09/17 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Majestic Silver Corp. is covered by 19 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Richard Gray	ATB Cormark
Richard Gray	ATB Cormark Historical (Cormark Securities)
Kevin O'Halloran	BMO Capital Markets Equity Research

First Majestic Silver (FMV) Stock Overview

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Risk Analysis

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First Majestic Silver Corp. Competitors

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Price History & Performance

Recent News & Updates

Now 20% undervalued after recent price drop

First Majestic Silver Corp Reports High-Grade Drill Results And Expands Exploration Footprint At San Dimas

Founder recently sold €467k worth of stock

Founder recently sold €404k worth of stock

Founder recently sold €428k worth of stock

Now 21% undervalued after recent price drop

Recent updates

Now 20% undervalued after recent price drop

First Majestic Silver Corp Reports High-Grade Drill Results And Expands Exploration Footprint At San Dimas

Founder recently sold €467k worth of stock

Founder recently sold €404k worth of stock

Founder recently sold €428k worth of stock

Now 21% undervalued after recent price drop

Upcoming dividend of US$0.015 per share

Second quarter 2026 earnings released: EPS: US$0.22 (vs US$0.11 in 2Q 2025)

First Majestic Silver Corp. Declares Cash Dividend for the Second Quarter Ended June 30, 2026, Payable on or About August 31, 2026

Investor sentiment deteriorates as stock falls 15%

Now 21% undervalued after recent price drop

First Majestic Silver Corp. Announces CFO Changes

Now 23% undervalued after recent price drop

Investor sentiment deteriorates as stock falls 15%

Now 20% undervalued after recent price drop

Investor sentiment deteriorates as stock falls 20%

First Majestic Silver Corp. to Report Q1, 2026 Results on May 12, 2026

First Majestic Silver Corp Announces 2025 Mineral Reserve and Mineral Resource Estimates

First Majestic Silver Corp., Annual General Meeting, Jun 10, 2026

First Majestic Announces Results of the 2025 Drilling Program At Jerritt Canyon Gold Mine

First Majestic Silver Corp. Reviews Its Dividend Policy

Now 21% undervalued

First Majestic Silver Corp. announced that it has received $300 million in funding

First Majestic Silver Corp. announced that it expects to receive $300 million in funding

First Majestic Silver Corp. Reports Positive Drilling Results from its Ongoing Exploration Program at the San Dimas Silver/Gold Mine, Located in Durango, Mexico

First Majestic Silver Corp. to Report Q2, 2025 Results on Aug 14, 2025

First Majestic Silver Corp. Provides Production Guidance for the Year 2025

First Majestic Silver Corp. Announces the Discovery of the Navidad Vein System, A New Significant, Vein-Hosted Gold and Silver Mineralized System Adjacent to Its Currently Producing Ermitaño Mine

First Majestic Announces Second Gold-Silver Discovery Within A Year At Santa Elena and Expands High-Grade Mineralization At Navidad

First Majestic Silver Corp. Appoints Ayesha Hira to Board of Directors, Effective May 20, 2025

First Majestic Silver Corp. Appoints Daniel Muniz Quintanilla to Its Board of Directors

First Majestic Silver Corp., Annual General Meeting, May 20, 2025

First Majestic Silver Corp. Provides Consolidated Production Guidance for the Year 2025

First Majestic Silver Corp. Provides Production Guidance for the Year 2025

First Majestic Provides Positive Exploration Results At San Dimas

First Majestic Silver Corp. (TSX:AG) completed the acquisition of Gatos Silver, Inc. (NYSE:GATO) from Electrum Silver US LLC, Electrum Silver US II LLC, Condire Management, LP, Condire Management, LP, Exor N.V. (ENXTAM:EXO) and others.

First Majestic Silver Corp. to Report Q4, 2024 Results on Feb 20, 2025

Third quarter dividend of US$0.0048 announced

Third quarter 2024 earnings released: US$0.088 loss per share (vs US$0.095 loss in 3Q 2023)

New major risk - Revenue and earnings growth

First Majestic Silver Corp. (TSX:AG) entered into a definitive agreement to acquire Gatos Silver, Inc. (NYSE:GATO) for approximately $950 million.

New major risk - Revenue and earnings growth

Second quarter dividend of US$0.0046 announced

Second quarter 2024 earnings released: US$0.17 loss per share (vs US$0.062 loss in 2Q 2023)

First Majestic Silver Corp. to Report Q2, 2024 Results on Aug 01, 2024

New major risk - Revenue and earnings growth

Grizzly Discoveries Inc. (TSXV:GZD) agreed to acquire 13 Motherlode CrownGrants in Greenwood from First Majestic Silver Corp. (TSX:AG) for CAD 7500.

First Majestic Silver Corp. Announces Resignation of Jean Des Rivières as Director

First quarter dividend of US$0.0037 announced

First Majestic Silver Corp. Declares Dividend for the First Quarter of 2024, Payable on or About June 7, 2024

First quarter 2024 earnings released: US$0.047 loss per share (vs US$0.37 loss in 1Q 2023)

New major risk - Revenue and earnings growth

First Majestic Silver Corp. to Report Q1, 2024 Results on May 08, 2024

First Majestic Silver Corp., Annual General Meeting, May 23, 2024

Fourth quarter dividend of US$0.0048 announced

First Majestic Silver Corp. has filed a Follow-on Equity Offering in the amount of $150 million.

Full year 2023 earnings released: US$0.48 loss per share (vs US$0.43 loss in FY 2022)

First Majestic Silver Corp. Reports Positive Exploration Results At San Dimas, Santa Elena and Jerritt Canyon Properties

First Majestic Silver Corp. Announces Total Production from San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine

First Majestic Silver Corp. Declares Dividend for the Third Quarter of 2023, Payable on November 30, 2023

Third quarter 2023 earnings released: US$0.095 loss per share (vs US$0.079 loss in 3Q 2022)

First Majestic Silver Corp. to Report Q3, 2023 Results on Nov 02, 2023