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Symbol
Currency
NYSE:AG
USD
TSE:AG
CAD
Description
First Majestic Silver Corp are a gold and silver focused emerging major with four producing mines in Mexico and USA, one mine in development in Mexico and four exploration properties. Currently they produce roughly 135koz. of gold and 14.0Moz. of silver per year. They have approximately 5Moz. of gold and 216Moz. of silver in the reserves and resources category of which 3Moz. of gold and 135Moz. of silver are in the measured and indicated category. They have a market capitalisation of ~$3109.12M which is a rise of roughly 15% over the last two months. As of 02/28/2025 they have ~$265M debt and ~$202M cash. They have 483M shares outstanding and trade on the New York Stock Exchange and the Toronto Stock Exchange.
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General Details
Financial
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
MCap (FD):
$2,692.90M
$3,109.12M
02/28/2025
$416.22M
Total Assets:
$1,019.00M
$1,019.00M
02/28/2025
$0.00M
Total Liabilities:
$374.00M
$374.00M
02/28/2025
$0.00M
Current Assets:
$300.00M
$300.00M
02/28/2025
$0.00M
Current Liabilities:
$78.00M
$78.00M
02/28/2025
$0.00M
Total Debt:
$265.00M
$265.00M
02/28/2025
$0.00M
Cash:
$202.00M
$202.00M
02/28/2025
$0.00M
Enterprise Value:
$2,755.90M
$3,172.12M
07/09/2070
$416.22M
Cash Flow:
$208.02M
$302.35M
never
$94.33M
Cash Flow Multiple:
12.95
10.28
never
-2.66
Net Debt to Cash Flow Ratio:
0.30
0.21
never
-0.09
Finance within 1 year:
02/28/2025
n/a
Misc
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Shares Outstanding:
482,505,780
482,505,780
02/28/2025
0
Shares (FD):
501,471,370
501,471,370
02/28/2025
0
Insider Ownership:
n/a
n/a
01/14/2018
n/a
Dividend (Annual):
n/a
0.36%
04/01/2025
0.36%
Company Type:
Mostly Silver
Mostly Silver
never
n/a
Production ETA:
n/a
n/a
02/28/2025
n/a
Production (Gold Eq Oz.):
(guess) 287,538
(guess) 275,219
02/28/2025
-12,320
Production (Silver Eq Oz.) :
(guess) 26,390,328
(guess) 27,478,932
02/28/2025
1,088,604
Initial CapEx (Outstanding):
n/a
n/a
02/28/2025
n/a
Funding Option:
n/a
n/a
02/28/2025
n/a
Documentation:
none
PRODUCER
04/01/2025
n/a
Future MCap Modifier:
0.3Producer: Elite Quality
0.3Producer: Elite Quality
04/24/2023
0
Cash Flow Multiplier:
20
20
02/28/2025
0.00
Resource Data
GOLD
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
O U N C E S
T O T A L
Proven & Probable:
0.70M
0.70M
02/28/2025
0.00M
Measured & Indicated:
3.00M
3.00M
02/28/2025
0.00M
Inferred:
2.00M
2.00M
02/28/2025
0.00M
Reserves & Resources:
5.00M
5.00M
never
0.00M
P L A U S I B L E
Proven & Probable:
0.56M
0.56M
02/28/2025
0.00M
Measured & Indicated:
2.03M
2.03M
02/28/2025
0.00M
Inferred:
0.80M
0.80M
02/28/2025
0.00M
Reserves & Resources:
2.83M
2.83M
never
0.00M
C U R R E N T
Annual Production:
(guess) 135,000oz.
(guess) 135,000oz.
02/28/2025
0oz.
Cash Cost:
$1,250
$1,250
02/28/2025
$0.00
Extra Operating Cost:
$700
$700
02/28/2025
$0.00
Total:
$1,950
$1,950
02/28/2025
$0.00
Margin (Free Cash Flow):
$906 (32%)
$1,377 (41%)
$470.60
G R A D E
Underground (Avg):
5.00 g/t
5.00 g/t
02/28/2025
n/a
Open Pit (Avg):
n/a
1.00 g/t
10/17/2024
1.00 g/t
Recovery Rate:
(CG) 80.00%
(CG) 80.00%
04/01/2025
0.00%
F U T U R E
Proven & Probable:
4.00M
4.00M
02/28/2025
0.00M
Annual Production:
275,000oz.
275,000oz.
02/28/2025
0oz.
Cash Cost:
$1,400
$1,400
02/28/2025
$0
Extra Operating Cost:
$700
$700
02/28/2025
$0
SILVER
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
O U N C E S
T O T A L
Proven & Probable:
95.00M
87.00M
04/01/2025
-8.00M
Measured & Indicated:
135.00M
135.00M
02/28/2025
0.00M
Inferred:
75.00M
81.00M
02/28/2025
6.00M
Reserves & Resources:
210.00M
216.00M
never
6.00M
P L A U S I B L E
Proven & Probable:
85.50M
78.30M
04/01/2025
-7.20M
Measured & Indicated:
114.30M
112.86M
02/28/2025
-1.44M
Inferred:
33.75M
36.45M
02/28/2025
2.70M
Reserves & Resources:
148.05M
149.31M
never
1.26M
C U R R E N T
Annual Production:
(guess) 14,000,000oz.
(guess) 14,000,000oz.
02/28/2025
0oz.
Cash Cost:
$14.00
$14.00
02/28/2025
$0.00
Extra Operating Cost:
$11.00
$11.00
02/28/2025
$0.00
Total:
$25.00
$25.00
02/28/2025
$0.00
Margin (Free Cash Flow):
$6.12 (19.67%)
$8.32 (24.97%)
$2.20
G R A D E
Underground (Avg):
180.00 g/t
180.00 g/t
02/28/2025
n/a
Open Pit (Avg):
n/a
n/a
07/09/2023
n/a
Recovery Rate:
(CG) 90.00%
(CG) 90.00%
04/01/2025
0.00%
F U T U R E
Proven & Probable:
200.00M
185.00M
04/01/2025
-15.00M
Annual Production:
15,000,000oz.
15,000,000oz.
02/28/2025
0oz.
Cash Cost:
$16.00
$16.00
02/28/2025
$0.00
Extra Operating Cost:
$12.00
$12.00
02/28/2025
$0.00
Property
Last Analysis Data (02/28/2025)
Stage
Location
Name
Owned
Size (Ha)
Type
Au
Ag
Cu
Notes
Production
Boquillas Del Cármen , Mexico
La Encantada
100%
n/a
n/a
show
2023
P&P: 13.6M AG OZ
M&I: 31.6M AG OZ
Inf: 19.3M AG OZ
2023E PRODUCTION
3.1M - 3.3M AG OZ
Production
Mexico , Mexico
San Dimas
100% (guess)
n/a
Underground
show
2023
P&P: 37.8M AG + 460K AU OZ
M&I: 54.5M AG + 681K AU OZ
Inf: 42.0M AG + 489K AU OZ
2023E Production
12.9M - 13.7M AgEq OZ
(6.4M - 6.8M AG OZ + 78K - 83K AU OZ)
Production
Hermosillo, Sonora , Mexico
Santa Elena
100%
n/a
n/a
show
2023
P&P: 10.1M AG + 320K AU OZ
M&I: 15.6M AG + 467K AU OZ
Inf: 12.4M AG + 313K AU OZ
2023E PRODUCTION
8.5M - 9.1M AgEq OZ
(0.9M - 1.0M AG OZ + 91K - 97K AU OZ)
Development
Chalchihuites , Mexico
Del Toro
100%
1
n/a
show
1 of 5 long life producing mines. Number 6 is under development.
2023 -
M&I: 7.6M AgEq OZ
Inf: 11.2M AgEq OZ
January 2020 temporarily suspended (improve operations)
Exploration
Mexico , Mexico
Cerros Los Gatos
70% (guess)
100,000
Both
show
70% ownership (currently 51%, option for 70%.
Exploration
Etzatlan mining district in Jalisco , Mexico
Jalisco
100% (guess)
5,245
n/a
n/a
Exploration
San Luis Potosí State , Mexico
La Luz
100% (guess)
4,974
n/a
n/a
Exploration
Mexico , Mexico
San Martin
65%
n/a
n/a
show
Past producing mine
2023
M&I: 9.0M AG + 17K AU OZ
Inf: 18.4M AG + 29K AU OZ
July 2019 temporarily suspended (security & safety issues)
Production
Nevada , USA
Jerritt Canyon
100% (guess)
30,000
Open Pit
show
75,000 oz a year production.
Plans to increase production to 3000 tpd at 5.5 gpt = 175K oz
2023 -
M&I: 1,691K AU OZ
INF: 1,542K AU OZ
March 2023 temporarily suspended
Total Land Package Size (ha):
140,220
Current Data
Stage
Location
Name
Owned
Size (Ha)
Type
Au
Ag
Cu
Notes
Production
Boquillas Del Cármen , Mexico
La Encantada
100%
n/a
n/a
show
2023
P&P: 13.6M AG OZ
M&I: 31.6M AG OZ
Inf: 19.3M AG OZ
2023E PRODUCTION
3.1M - 3.3M AG OZ
Production
Mexico , Mexico
San Dimas
100% (guess)
n/a
Underground
show
2023
P&P: 37.8M AG + 460K AU OZ
M&I: 54.5M AG + 681K AU OZ
Inf: 42.0M AG + 489K AU OZ
2023E Production
12.9M - 13.7M AgEq OZ
(6.4M - 6.8M AG OZ + 78K - 83K AU OZ)
Production
Hermosillo, Sonora , Mexico
Santa Elena
100%
n/a
n/a
show
2023
P&P: 10.1M AG + 320K AU OZ
M&I: 15.6M AG + 467K AU OZ
Inf: 12.4M AG + 313K AU OZ
2023E PRODUCTION
8.5M - 9.1M AgEq OZ
(0.9M - 1.0M AG OZ + 91K - 97K AU OZ)
Development
Chalchihuites , Mexico
Del Toro
100%
1
n/a
show
1 of 5 long life producing mines. Number 6 is under development.
2023 -
M&I: 7.6M AgEq OZ
Inf: 11.2M AgEq OZ
January 2020 temporarily suspended (improve operations)
Exploration
Mexico , Mexico
Cerros Los Gatos
70% (guess)
100,000
Both
show
70% ownership (currently 51%, option for 70%.
Exploration
Etzatlan mining district in Jalisco , Mexico
Jalisco
100% (guess)
5,245
n/a
n/a
Exploration
San Luis Potosí State , Mexico
La Luz
100% (guess)
4,974
n/a
n/a
Exploration
Mexico , Mexico
San Martin
65%
n/a
n/a
show
Past producing mine
2023
M&I: 9.0M AG + 17K AU OZ
Inf: 18.4M AG + 29K AU OZ
July 2019 temporarily suspended (security & safety issues)
Production
Nevada , USA
Jerritt Canyon
100% (guess)
30,000
Open Pit
show
75,000 oz a year production.
Plans to increase production to 3000 tpd at 5.5 gpt = 175K oz
2023 -
M&I: 1,691K AU OZ
INF: 1,542K AU OZ
March 2023 temporarily suspended
Total Land Package Size (ha):
140,220
Profitability (by resource)
Proven & Probable
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Percentage Gold:
40.34%
44.55%
n/a
4.21%
Percentage Silver:
59.66%
55.45%
n/a
-4.21%
Total (Gold Eq. Oz.):
1.74M
1.57M
n/a
-0.16M
Total (Silver Eq. Oz.):
159.25M
156.89M
n/a
-2.36M
P L A U S I B L E
Gold Eq. Oz.:
1.49M
1.34M
n/a
-0.15M
Silver Eq. Oz.:
136.90M
134.21M
n/a
-2.68M
Maximum Profit (Gold):
$507.47M
$771.01M
n/a
$263.54M
Maximum Profit (Silver):
$523.26M
$651.46M
n/a
$128.20M
Total Maximum Profit:
$1,030.73M
$1,422.46M
n/a
$391.73M
Max Profit / Current MCap:
0.383
0.458
n/a
0.075
Max Profit Per Share (Gold):
$1.01
$1.54
n/a
$0.53
Max Profit Per Share (Silver):
$1.04
$1.30
n/a
$0.26
Total Max Profit Per Share:
$2.06
$2.84
n/a
$0.78
Total Free Profit Per Share:
$0.00
$0.00
n/a
$0.00
FD MCap / Gold Eq.:
$1,805.41
$2,312.95
n/a
$507.54
FD MCap / Silver Eq.:
$19.67
$23.17
n/a
$3.49
FD MCap / Per Metal as % Spot Price:
63.21%
69.52%
n/a
6.31%
Measured & Indicated
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Percentage Gold:
67.10%
68.93%
n/a
1.83%
Percentage Silver:
32.90%
31.07%
n/a
-1.83%
Total (Gold Eq. Oz.):
4.47M
4.35M
n/a
-0.12M
Total (Silver Eq. Oz.):
410.34M
434.53M
n/a
24.19M
P L A U S I B L E
Gold Eq. Oz.:
3.28M
3.16M
n/a
-0.12M
Silver Eq. Oz.:
300.80M
315.74M
n/a
14.95M
Maximum Profit (Gold):
$1,841.40M
$2,797.66M
n/a
$956.26M
Maximum Profit (Silver):
$699.52M
$939.00M
n/a
$239.48M
Total Maximum Profit:
$2,540.91M
$3,736.65M
n/a
$1,195.74M
Max Profit / Current MCap:
0.944
1.202
n/a
0.258
Max Profit Per Share (Gold):
$3.67
$5.58
n/a
$1.91
Max Profit Per Share (Silver):
$1.39
$1.87
n/a
$0.48
Total Max Profit Per Share:
$5.07
$7.45
n/a
$2.38
Total Free Profit Per Share:
$0.00
$1.25
n/a
$1.25
FD MCap / Gold Eq.:
$821.67
$983.16
n/a
$161.50
FD MCap / Silver Eq.:
$8.95
$9.85
n/a
$0.89
FD MCap / Per Metal as % Spot Price:
28.77%
29.55%
n/a
0.79%
Reserves & Resources
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Percentage Gold:
68.61%
69.80%
n/a
1.19%
Percentage Silver:
31.39%
30.20%
n/a
-1.19%
Total (Gold Eq. Oz.):
7.29M
7.16M
n/a
-0.12M
Total (Silver Eq. Oz.):
668.90M
715.22M
n/a
46.32M
P L A U S I B L E
Gold Eq. Oz.:
4.45M
4.33M
n/a
-0.12M
Silver Eq. Oz.:
407.97M
432.07M
n/a
24.10M
Maximum Profit (Gold):
$2,566.36M
$3,899.10M
n/a
$1,332.74M
Maximum Profit (Silver):
$906.07M
$1,242.26M
n/a
$336.19M
Total Maximum Profit:
$3,472.42M
$5,141.36M
n/a
$1,668.93M
Max Profit / Current MCap:
1.289
1.654
n/a
0.364
Max Profit Per Share (Gold):
$5.12
$7.78
n/a
$2.66
Max Profit Per Share (Silver):
$1.81
$2.48
n/a
$0.67
Total Max Profit Per Share:
$6.92
$10.25
n/a
$3.33
Total Free Profit Per Share:
$1.55
$4.05
n/a
$2.50
FD MCap / Gold Eq.:
$605.81
$718.47
n/a
$112.65
FD MCap / Silver Eq.:
$6.60
$7.20
n/a
$0.60
FD MCap / Per Metal as % Spot Price:
21.21%
21.60%
n/a
0.39%
Future Valuation (Cash Flow & Totals)
Defaults
Defaults
02/28/2025 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Spot Gold:
$2,856.20
$3,326.80
04/24/2025
$470.60
Spot Silver:
$31.12
$33.32
04/24/2025
$2.20
Gold:Silver Ratio:
91.78
99.84
04/24/2025
8.06
Spot Gold (Future):
$4,000.00
$4,000.00
$0.00
Spot Silver (Future):
$100.00
$100.00
$0.00
Gold:Silver Ratio (Future):
40.00
40.00
0.00
Gold Avg. Recovery Rate:
75.00%
75.00%
0.00%
Silver Avg. Recovery Rate:
75.00%
75.00%
0.00%
Plausibility of P & P:
100.00%
100.00%
0.00%
Plausibility of M & I:
80.00%
80.00%
0.00%
Plausibility of Inferred:
50.00%
50.00%
0.00%
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