AG Reports Y/Y Jump in Q2 Silver-Equivalent Production, Raises Outlook

Core Insights - First Majestic Silver Corp. reported a total production of 7.9 million silver-equivalent ounces in Q2 2025, marking a 48% year-over-year increase driven by a 76% rise in silver production [1][7]. Production Details - The production included 3.7 million ounces of silver and 33,865 ounces of gold [1]. - The San Dimas mine produced 2.46 million AgEq ounces, with 1.24 million ounces of silver and 12,472 ounces of gold, reflecting a 17% year-over-year increase [3]. - The Santa Elena mine produced 2.32 million AgEq ounces, down 10% year-over-year, consisting of 306,224 ounces of silver and 20,637 ounces of gold [3]. - La Encantada produced 628,105 ounces of silver, up 7% from Q2 2024, driven by a 20% increase in ore processed and an 8% rise in silver recovery [4]. - Cerro Los Gatos contributed 2.4 million AgEq ounces, including 1.52 million ounces of silver and key base metals [4][7]. Acquisition Impact - In January 2025, First Majestic completed the acquisition of Gatos Silver, Inc., gaining a 70% interest in the Cerro Los Gatos mine, which solidified its position as an intermediate primary silver producer [2]. Updated Guidance - Following strong Q2 performance, the company raised its full-year consolidated production guidance to 30.6-32.6 million AgEq ounces, up from the previous guidance of 27.8-31.2 million AgEq ounces [5][7]. Stock Performance - First Majestic's shares have increased by 26.9% over the past year, outperforming the industry average growth of 20.1% [6].