Investors with a lot of money to spend have taken a bearish stance on First Majestic Silver (NYSE:AG).And retail traders should know.We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AG, it often means somebody knows something is about to happen.So how do we know what these investors just did? Today, Benzinga's options scanner ...

Core Viewpoint - Precious metal stocks experienced a significant pre-market rally, with notable increases in share prices for several companies as gold and silver prices reached historical highs [1] Group 1: Company Performance - First Majestic Silver (AG.US) rose over 5% [1] - Pan American Silver (PAAS.US) increased by over 4% [1] - Endeavour Silver (EXK.US) saw a nearly 4% rise [1] - Newmont Corporation (NEM.US) gained over 2% [1] - Harmony Gold Mining (HMY.US) was up over 1% [1] Group 2: Market Trends - On January 26, London spot gold prices briefly surpassed $5,100 per ounce, marking a historical peak [1] - London spot silver also strengthened, with prices rising over 5% to exceed $110 per ounce [1]

Group 1 - China Aluminum International (02068) saw a mid-day increase of over 2.4% after announcing a joint venture to undertake a new electrolytic aluminum project with an annual capacity of 394,000 tons, with the first phase set at 294,000 tons [1] - CGN Mining (01164) rose over 8.3% following the submission of a preliminary prospectus for a trust that plans to issue up to $2 billion in transferable, non-redeemable trust shares over 25 months, with annual uranium procurement not exceeding 9 million pounds [1] - China Shengmu Organic Milk (01432) increased nearly 6% after a joint announcement regarding a potential conditional cash offer to acquire all issued shares of the company [1] Group 2 - Yijun Group Holdings (02442) surged over 18%, with a cumulative increase of nearly 500% since its resumption of trading in December, following the sale of shares by its controlling shareholder [2] - China Rare Earth Holdings (03788) rose over 10%, reaching a historical high of 5.49 HKD, after announcing the termination of its gold spin-off plan to focus on gold business [2] - Laopuqin Gold (06181) increased over 7.3% as consumer demand is expected to rise during the upcoming Spring Festival, driven by higher gold prices and anticipated price increases [2] Group 3 - Oil stocks continued to rise, with CNOOC (02883) up 4.19%, Sinopec (00386) up 2.54%, and PetroChina (00857) up 3.68%, amid escalating geopolitical tensions in Iran and Cuba [3] - Changfei Optical Fiber (06869) saw a rise of over 15.4% due to significant price increases and supply tightness in the G.652.D optical fiber market, with major manufacturers unable to meet their own orders [3] Group 4 - Nanshan Aluminum International (02610) increased over 2.6% after announcing plans to start construction on a 250,000-ton electrolytic aluminum project in 2026, with an investment of $437 million [4] - Xindong Company (02400) saw a slight increase of 0.43% as its mobile game "Xindong Town" surpassed 10 million downloads, indicating strong user growth [4] Group 5 - EquipmentShare.com (EQPT.US) debuted on the US stock market with an IPO price of $24.5, closing up 32.9% on its first day [5] - The solar energy sector saw initial gains, with JinkoSolar (JKS.US) up 9.03% and Canadian Solar (CSIQ.US) up 4.57%, following discussions at the Davos Forum [5] - Silver-related stocks experienced gains, with First Majestic Silver (AG.US) rising 5.04% as spot silver prices surpassed $100 [5] Group 6 - Lithium mining stocks mostly rose, with Sigma Lithium (SGML.US) up 17.54% after announcing additional sales of high-purity lithium powder [6] - Bank stocks declined, with Goldman Sachs (GS.US) down 3.75% amid legal issues involving President Trump and JPMorgan [6] - Redwire (RDW.US) increased by 4.51% following comments from Elon Musk about SpaceX's plans for reusable rocket technology [6] Group 7 - Semiconductor stocks showed strength, with AMD (AMD.US) up 2.35% and Nvidia (NVDA.US) up 1.53%, as Nvidia's CEO visited China to discuss future plans [7] - Ericsson (ERIC.US) rose 8.87% after reporting strong fourth-quarter earnings, with adjusted EBITA reaching 12.7 billion SEK, a 24% increase year-over-year [8] - Intel (INTC.US) fell 17.03% due to disappointing performance outlooks and manufacturing issues [8]

Group 1 - First Majestic Silver Corp. is recognized as one of the 15 best performing silver stocks to buy [1] - BMO Capital has maintained a Market Perform rating on First Majestic Silver Corp. and raised its price target from C$22 to C$26 [2] - H.C. Wainwright reaffirmed its Buy rating and increased the price target from $17.50 to $24.50 following the release of year-end production statistics [2] Group 2 - In Q4 2025, First Majestic produced 7.8 million silver equivalent ounces, including 4.2 million ounces of silver, marking a 77% year-on-year increase in silver production [3] - Total production for 2025 reached 31.1 million silver equivalent ounces, exceeding expectations [3] - The company sold the Del Toro mine for up to $60 million and completed 57,305 meters of drilling in Q4 [3] Group 3 - First Majestic Silver Corp. focuses on the production, development, exploration, and acquisition of mineral properties in North America, primarily targeting silver and gold [4]

Group 1 - Sanhua Intelligent Control (02050) saw a decline of over 3.4% after announcing a share reduction plan involving the actual controller and several directors, with a total of up to approximately 10.2 million A-shares to be sold between February 24, 2026, and May 23, 2026 [1] - Tuo Yun Biotechnology (01332) experienced a significant drop of over 60%, nearly erasing gains since October 2022, following stock movements involving major shareholders [1] - Zhongwei New Materials (02579) increased by over 5% as the company announced securing 5-6 billion wet tons of nickel ore resources and establishing four nickel raw material industrial bases in Indonesia [1] Group 2 - InnoCare Pharma (03696) rose over 6%, reaching a new high of 62.9 HKD, after receiving FDA approval for its oral NLRP3 inhibitor ISM8969 for Parkinson's disease treatment [2] - Solar stocks surged, with Kaisa New Energy (01108) up 17.85% and other companies like Fuyao Glass (06865) and Xinyi Solar (00968) also showing significant gains, driven by a report indicating a new phase in commercial space deployment [2] - Jiangnan Buyi (03306) fell nearly 7% after announcing a placement of 14.535 million shares at a discount to the market price [2] Group 3 - Lithium stocks rose, with Ganfeng Lithium (01772) up 5.22% and Tianqi Lithium (09696) up 2.88%, following a report of a significant increase in lithium carbonate contract prices [3] - Rongchang Bio (09995) increased nearly 2% after UBS expressed a positive outlook on its collaboration with AbbVie, which includes substantial milestone payments [4] - DCH Holdings (00179) fell nearly 7% as it reported a slight decline in revenue for the nine months ending December 31, 2025 [4] Group 4 - Gold stocks rebounded, with Chifeng Jilong Gold Mining (06693) up 6.99% and others also showing gains, as spot gold prices reached a new high of over $4,960 per ounce [4] - Bitgo Holdings (BTGO.US) debuted on the US stock market, rising 2.72% as a leading cryptocurrency custody provider [5] - Rare earth stocks surged, with USA Rare Earth (USAR.US) up 17.49% after announcing partnerships to advance its Round Top project [5] Group 5 - The Nasdaq Golden Dragon China Index opened up 1.6%, with major Chinese stocks like Li Auto (LI.US) and Alibaba (BABA.US) showing gains, supported by comments from the People's Bank of China regarding potential monetary easing [6] - Abbott (ABT.US) fell 10.04% after reporting lower-than-expected sales for Q4 2025, despite a year-over-year increase in adjusted EPS [7] - Alibaba (BABA.US) rose 5.05% as it plans to list its semiconductor division, benefiting from investor interest in competing with Nvidia [7]

Group 1 - Silver-related stocks experienced a significant increase, with Coeur Mining (CDE.US) rising over 8%, Endeavour Silver (EXK.US) and Hecla Mining (HL.US) up over 4%, and Pan American Silver (PAAS.US) and First Majestic Silver (AG.US) increasing over 3% [1] - Spot silver surged over 3%, approaching $94 [1] - Citigroup raised its price forecast for precious metals due to heightened geopolitical risks, ongoing physical market shortages, and renewed uncertainty regarding the independence of the Federal Reserve, indicating that the bull market is expected to continue in the short term [1] Group 2 - Citigroup's baseline scenario target price for gold is $5,000 per ounce and for silver is $100 per ounce over the next 0 to 3 months [1]

Core Insights - First Majestic Silver's stock has surged nearly fourfold over the past year, driven by operational successes, market influences, strategic acquisitions, and positive investor sentiment [2][11] Silver Market Dynamics - The silver market has experienced a significant upswing, with global silver prices increasing by over 130% in 2025, largely due to limited supplies and rising industrial demand, particularly in solar technology [4] - Mining companies like First Majestic benefit disproportionately from high metal prices, leading to increased revenues and profitability without a corresponding rise in production costs [4] Operational Performance - First Majestic achieved record production of 31.1 million silver equivalent ounces in 2025, including 15.4 million ounces of actual silver, marking an 84% increase from 2024 [5] - In Q4 2025, the company produced 7.8 million ounces of silver equivalent, with silver output increasing by 77% year-over-year to 4.2 million ounces [5] Strategic Acquisitions - The acquisition of a 70% stake in the Cerro Los Gatos Silver Mine in January 2025 significantly enhanced First Majestic's production capacity and introduced a high-quality asset to its portfolio [6] - This acquisition, along with production gains from major assets like San Dimas, Santa Elena, and La Encantada, has fundamentally transformed the company's production profile [6] Financial Performance - First Majestic's increased output has led to a substantial financial turnaround, with revenues nearly doubling in the past year and competitive cash costs per silver equivalent ounce improving margins and free cash flow [7] - The company reported historic highs in cash and restricted cash balances, providing financial flexibility for further expansion and shareholder returns, including an increased dividend starting in 2026 [8] Future Outlook - Continued growth for First Majestic may depend on sustained silver prices and industrial demand, particularly in renewable energy technologies [9] - Successful integration of new assets and ongoing exploration could prolong mine life and production growth [9] - However, elevated valuations and potential cyclical challenges in silver mining may pose risks to future earnings [10]

Core Insights - Ubisoft Entertainment shares experienced their worst day on record following the announcement of a major reorganization, which includes studio closures and the cancellation of six games [1] Company Actions - The company is implementing a sweeping reorganization that involves significant changes to its operational structure [1] - Ubisoft has decided to close several studios as part of this restructuring effort [1] - The cancellation of six games has been confirmed, indicating a shift in the company's development strategy [1] Market Reaction - The announcement led to a dramatic decline in Ubisoft's stock price, marking the most significant drop in the company's history [1]

Core Insights - First Majestic Silver Corp. reported a significant increase in silver production, achieving 7.8 million silver-equivalent ounces in Q4 2025, a 37% year-over-year growth driven by higher silver output [1][10]. Production Growth - The acquisition of Gatos Silver in January 2025 was a key factor, contributing 2.09 million AgEq ounces in the quarter, including 1.49 million ounces of silver, which enhanced First Majestic's production capabilities [2][10]. - The San Dimas mine produced 2.45 million AgEq ounces, with 1.31 million ounces of silver, reflecting a 10% year-over-year increase in silver equivalent production [3][10]. - The Santa Elena mine produced 2.28 million AgEq ounces, including 358,185 ounces of silver, while La Encantada produced 1 million ounces of silver, marking a 32% increase from Q4 2024 due to a 20% growth in ore processed and an 11% increase in silver grades [4][10]. Future Growth Initiatives - First Majestic is investing in future growth through exploration, having initiated its 2025 drilling program at the Jerritt Canyon mine, completing 5,889 meters of drilling in Q4 2025, totaling 18,410 meters [5][6]. Industry Comparison - Among peers, Hecla Mining produced 4.6 million ounces of silver in Q3 2025, a 1.5% increase from the previous quarter, with revenues rising to $409.5 million, up 35% sequentially [7]. - Pan American Silver's Q3 silver production was 5.5 million ounces, flat year-over-year, but the company raised its 2025 production outlook to 22-25 million ounces from 20-21 million ounces [8]. Valuation and Earnings Estimates - First Majestic's shares have increased by 77.4% over the past three months, outperforming the industry growth of 67% [9]. - The company is currently trading at a forward price-to-earnings ratio of 62.62X, significantly above the industry average of 20.44X, and carries a Value Score of F [12]. - The Zacks Consensus Estimate for First Majestic's 2025 earnings has been rising over the past 60 days, with current estimates at $0.30 for the current year and $0.37 for the next year [14][15].

Core Viewpoint - Hecla Mining Company (HL) and First Majestic Silver Corp. (AG) are key players in the silver mining industry, focusing on silver extraction and growth through exploration, mine expansions, and strategic partnerships [1][2] Hecla Mining (HL) - HL produced 4.6 million ounces of silver in Q3 2025, a 1.5% increase from the previous quarter, with revenues rising to $409.5 million, up 35% sequentially due to higher metal prices and increased sales volumes [3][11] - The Greens Creek mine in Alaska was a significant contributor, producing 2.3 million ounces of silver and 15,600 ounces of gold, with capital investment expected to rise in Q4 2025 for ongoing projects [4] - The Lucky Friday mine produced 1.3 million ounces of silver, benefiting from higher milled grades and stable operations, with a surface cooling project expected to enhance access to higher-grade ore by H1 2026 [5] - The Keno Hill project produced 898,328 ounces of silver, a 20% sequential increase, supported by improved power reliability and higher milling rates [6] - HL received approval for exploration at the Polaris project in Nevada for 2026, and early drilling at the Midas project showed promising results, indicating potential for low-capital growth [7] - The company generated $148 million in operating cash flow and approximately $90 million in free cash flow, significantly improving its balance sheet by reducing net leverage from 0.7x to 0.3x [8] - However, HL's all-in sustaining costs rose to $11.01 per ounce from $5.19 in the prior quarter due to higher labor expenses and increased capital investments [9] First Majestic Silver Corp. (AG) - AG's total production reached 7.8 million silver-equivalent ounces in Q4 2025, including a record 4.2 million silver ounces, marking a 37% year-over-year increase driven by a 77% surge in silver production [10][12] - In Q3 2025, AG produced 7.7 million silver-equivalent ounces, including 3.9 million silver ounces, with cash flow increasing 67.5% year-over-year to $98.8 million and liquidity reaching $682 million [13][11] - AG completed the acquisition of Gatos Silver, gaining a 70% interest in the Cerro Los Gatos Silver mine, enhancing its position as an intermediate primary silver producer [13] - Despite strong production growth, AG faces challenges with rising costs, as its cost of sales surged 52.8% year-over-year, and general and administrative expenses increased by 27.3% [14] - Ongoing legal and regulatory challenges in Mexico, including a major tax conflict, pose risks to AG's operations, despite strong production performance [15] - AG's long-term debt increased by 3.5% year-over-year to $216.8 million, raising concerns about future margins and profitability [16] Market Performance and Valuation - Hecla Mining's shares surged 107.2% over the past three months, while First Majestic's stock gained 68.6% [20] - Hecla Mining trades at a forward P/E ratio of 45.76X, above its five-year median of 36.97X, while First Majestic's forward earnings multiple is 60.07X, higher than its median of 30.16X [21] Conclusion - Hecla Mining is well-positioned for growth with strong operational performance and exploration projects, while First Majestic, despite strong production and cash flow, faces challenges that could pressure margins [25][26]