First Majestic Silver Corp.

NYSE:AG Stock Report

Market Cap: US$13.2b

First Majestic Silver Dividends and Buybacks

Dividend criteria checks 0/6

First Majestic Silver is a dividend paying company with a current yield of 0.089%. Next payment date is on 16th March, 2026 with an ex-dividend date of 27th February, 2026.

Key information

0.09%

Dividend yield

-0.3%

Buyback Yield

Total Shareholder Yield-0.2%
Future Dividend Yield0.2%
Dividend Growth4.8%
Next dividend pay date16 Mar 26
Ex dividend date27 Feb 26
Dividend per sharen/a
Payout ratio7%

Recent dividend and buyback updates

Recent updates

First Majestic Silver may see 13.12% profit margin growth in 3 years

First Majestic Silver AG Target Price 80 dollars Valuation Framework The 80 dollar target is based on the following assumptions Silver price 150 dollars per ounce Fully diluted shares approximately 515 million Estimated operating cash flow approximately 2.1 billion dollars Cash flow per share approximately 4.0 to 4.2 dollars Bull market multiple 18 to 20 times P to CF Implied valuation range 72 to 84 dollars per share Key Investment Drivers Strong Silver Leverage Annual production 15.4 million ounces of silver Every 10 dollar increase in silver price adds approximately 150 million dollars in cash flow The company is now a high torque silver exposure vehicle Los Gatos Expansion Mill throughput expected to increase toward 4000 tonnes per day Production growth anticipated after 2026 Expansion expected to be internally funded which limits dilution risk Strong Balance Sheet Net Cash Cash 793 million dollars Total debt 292 million dollars Net cash position approximately 500 million dollars This provides financial flexibility reduces downside risk and supports growth and dividend capacity Revenue Linked Dividend Policy Dividend increased to 2 percent of revenues At higher silver prices this structure leads to materially higher dividend payouts and increases institutional attractiveness Multiple Re Rating Potential Current valuation approximately 9 to 10 times P to CF In a silver bull market producers typically re rate to 18 to 20 times P to CF This implies substantial upside even without production growth Shift to Silver Dominant Production Profile Following the Los Gatos acquisition Higher silver weighting Gold primarily a by product This increases sensitivity to rising silver prices Key Risks Silver price declining below 60 dollars per ounce Apparent AISC inflation due to silver equivalent accounting Potential future dilution if equity financing is used The net cash position mitigates financial risk Conclusion Under a 150 dollar silver scenario Estimated operating cash flow approximately 2.1 billion dollars Cash flow per share approximately 4.1 dollars Bull market multiple approximately 19 times Target Price 80 dollars per share Valuation range 60 to 80 dollars Upside case in a silver mania above 80 dollars

First Majestic Silver: Leverage On Silver Works Both Ways (Double Downgrade)

Feb 20

First Majestic Silver: A Better Start To 2025

Apr 28

First Majestic Silver: Another Miss On Annual Guidance

Feb 07

First Majestic Silver Corp.: A Major Plus In Acquiring Gatos Silver, Inc.

Jan 21

First Majestic Silver: A Soft Q3 Operationally With Continued Share Dilution

Dec 31

First Majestic Silver And Gatos Silver Merger: A Better Combined Company

Oct 30

First Majestic Silver: A Lot More Silver, But Far Less Silver Per Share

Oct 22

First Majestic Silver: Continued Share Dilution Despite Record Gold Prices

Aug 22

First Majestic Silver: Still A Money Loser

Aug 01

First Majestic Silver: Limited Margin Of Safety At Current Levels

May 22

First Majestic Silver: A Slow Start To The Year

Apr 21

First Majestic Silver: Another Disappointing Year

Feb 25

First Majestic Silver: Consistent Losses, Can They Turn It Around?

Feb 13

First Majestic Silver: A Weak Q4 With A High-Cost Year On Deck

Jan 22

First Majestic Silver: Another Underwhelming Quarter

Nov 19

First Majestic Silver: Disappointing Performance Amid Higher Pricing

Oct 30

First Majestic Silver: A Disappointing Q3

Oct 13

First Majestic: Good Assets And Share Dilution At A High Price

Sep 21

First Majestic Silver: Q2 Earnings, Peso Strength Weighs On Margins

Aug 08

Stability and Growth of Payments

Fetching dividends data

Stable Dividend: AG is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: AG is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.

Dividend Yield vs Market

First Majestic Silver Dividend Yield vs Market
How does AG dividend yield compare to the market?
SegmentDividend Yield
Company (AG)0.09%
Market Bottom 25% (US)1.4%
Market Top 25% (US)4.3%
Industry Average (Metals and Mining)1.5%
Analyst forecast (AG) (up to 3 years)0.2%

Notable Dividend: AG's dividend (0.089%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: AG's dividend (0.089%) is low compared to the top 25% of dividend payers in the US market (4.34%).

Earnings Payout to Shareholders

Earnings Coverage: AG is not paying a notable dividend for the US market.

Cash Payout to Shareholders

Cash Flow Coverage: AG is not paying a notable dividend for the US market.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/11 04:14
End of Day Share Price 2026/03/11 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 world class team 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 17 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Richard GrayATB Cormark
Richard GrayATB Cormark Historical (Cormark Securities)
Kevin O'HalloranBMO Capital Markets Equity Research