First Majestic Announces Financial Results for Q1 2025 with Record Cash Position and Announces Quarterly Dividend Payment

Core Insights - First Majestic Silver Corp. reported record financial results for Q1 2025, highlighting a strong cash position and significant increases in production and revenue [2][3][4] Financial Highlights - The company achieved a record cash and restricted cash balance of $462.6 million, with $351.3 million in cash and cash equivalents and $111.3 million in restricted cash, marking a 50% increase from the previous quarter [10] - Record quarterly revenue of $243.9 million was generated, a 130% increase from $106.0 million in Q1 2024, primarily driven by a 64% increase in payable AgEq ounces sold [9][11] - Mine operating earnings reached a record $63.8 million, a significant increase from a loss of $0.3 million in Q1 2024, attributed to the addition of the Cerro Los Gatos Silver Mine [11][12] - Operating cash flow before changes in working capital and taxes was a record $110.0 million, compared to $12.6 million in Q1 2024 [13][14] - Net earnings for the quarter were $6.2 million (EPS of $0.01), compared to a net loss of $13.6 million (EPS of ($0.05)) in Q1 2024 [16][17] Production and Operational Highlights - The company produced 7.7 million silver equivalent ounces in Q1 2025, an increase of 49% compared to 5.2 million ounces in Q1 2024 [22] - Record silver production of 3.7 million ounces was achieved, representing an 88% increase from 2.0 million ounces produced in Q1 2024 [23] - Consolidated cash costs per AgEq ounce were $13.68, a 9% reduction from $15.00 in Q1 2024, and AISC was $19.24, an 11% improvement from $21.53 [24][26] Dividend Announcement - The company declared a cash dividend of $0.0045 per common share for Q1 2025, payable on or about May 30, 2025 [27][28]