First Majestic Silver AG
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Full analysis: 22 Jan 2026
Latest news check: 31 Jul 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Q2 results confirm strong cash flow and a raised dividend, yet elevated AISC and metal-price dependence support a wait-and-see stance.
Market sentiment
5/10
↓
Trend: Declining
Sentiment remains neutral with focus on strong cash and FCF despite the EPS miss and still-elevated costs.
Price context
The stock trades around 15.22 USD after a 6.7 % weekly drop and sits 52 % below its 52-week high. The level reflects short-term weakness despite the strengthened balance sheet.
Risk assessment
8/10
Dilution:
Low
Jurisdiction:
Medium
Execution:
Medium
Cash flow:
24 mo
Recent changes
- Report published following Q2 results showing strong cash flow and raised dividend.
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Sector:
Silver och guld
Type:
Producer
Next report
4 Nov 2026
Q3
Catalysts
Q3 2026
Jerritt Canyon decision
Medium
Horizon:
Bull case
Record cash of 1.25 BUSD and raised production guidance underpin silver-price leverage.
Bear case
Elevated AISC and EPS miss keep sentiment subdued despite robust free cash flow.
Signal rationale (informational)
Q2 results confirm strong cash flow and a raised dividend, yet elevated AISC and metal-price dependence support a wait-and-see stance.
Recent news
- Q2 report released 30 July showing revenue of 416 MUSD, EBITDA of 252 MUSD and record cash of 1.25 BUSD. Dividend was raised sharply and the San Martin sale was confirmed.
Key figures
Revenue
Q2 2026
USD 416M
EBITDA
Q2 2026
USD 252M
Cash
Q2 2026
USD 1,253M
Price & valuation
Last close
USD 18.96
1 week
+7.7 %
3 months
-21.6 %
12 months
+117.4 %
From 52w high
-40.7 %
From 52w low
+127.3 %
Exchange
NYSE
Type
Producer
Sector
Silver och guld
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.