First Majestic Silver (AG) ZACKS·2025-04-09 18:05Core Viewpoint - First Majestic Silver Corp. reported a significant increase in silver-equivalent production in Q1 2025, driven by a surge in silver production and the acquisition of Gatos Silver, enhancing its position in the silver market [1][2]. Production Summary - Total production reached 7.7 million AgEq ounces, comprising 3.7 million silver ounces and 36,469 gold ounces, marking a 49% year-over-year increase due to an 88% rise in silver production [1]. - The San Dimas mine produced 2.6 million AgEq ounces, with silver production increasing by 17% and gold output rising by 5% year-over-year [3]. - The Santa Elena mine's production remained flat at 2.26 million AgEq ounces, while La Encantada saw a 23% increase in silver production, driven by a 34% growth in ore processed [4]. - Cerro Los Gatos contributed 2.25 million AgEq ounces, including 1.4 million ounces of silver and 794 ounces of gold, along with significant contributions of zinc and lead [5]. Financial Performance - The Zacks Consensus Estimate for Q1 earnings is projected at 13 cents per share, indicating a recovery from a loss of 6 cents in the same quarter last year [6]. - The company's stock has declined by 33.8% over the past year, compared to an 11% decline in the industry [7]. Market Position - First Majestic holds a Zacks Rank of 3 (Hold), while other companies in the basic materials sector, such as Idaho Strategic Resources, Carpenter Technology, and DRDGOLD, have better rankings [9].