First Majestic Reports 2025 Production and 2026 Outlook; Increases Dividend

Core Insights - First Majestic Silver Corp. reported a significant increase in production for Q4 2025, achieving a total of 7.8 million attributable silver equivalent ounces, which includes 4.2 million silver ounces and 41,417 gold ounces, among other metals [1][4][10] Q4 2025 Production Highlights - The company produced 4.2 million silver ounces in Q4 2025, a 77% increase from 2.4 million ounces in Q4 2024 [4] - Total silver equivalent production reached 7.8 million AgEq ounces, a 37% increase compared to 5.7 million AgEq ounces in Q4 2024 [4] - The Los Gatos mine contributed 1.5 million ounces of attributable silver production [4] FY 2025 Highlights - First Majestic achieved a record annual silver production of 15.4 million ounces in 2025, an 84% increase from 2024 [10] - The company met or exceeded its production guidance for 2025, with total production of 31.1 million silver equivalent ounces [4][10] - The acquisition of Gatos Silver, which added a 70% interest in the Los Gatos mine, was a key factor in the production increase [10][5] Exploration and Development - The company completed 57,305 meters of drilling in Q4 2025, with up to 27 drill rigs active across its mines [4] - Positive exploration results were reported for the Santo Niño and Navidad targets at Santa Elena, leading to preliminary mine planning studies [4] - The company plans to invest between $213 million to $236 million in capital expenditures for 2026, focusing on sustaining and expansionary projects [29][30] Safety Performance - The consolidated Total Reportable Incident Frequency Rate (TRIFR) for 2025 was 0.55, below the target KPI of 0.70, indicating strong safety performance [4] 2026 Production and Cost Guidance - For 2026, the company expects total attributable production of 13.0 to 14.4 million ounces of silver and 116,000 to 129,000 ounces of gold [21][24] - The projected all-in sustaining costs (AISC) for 2026 are estimated to be between $26.15 and $27.91 per AgEq ounce [26][27] Dividend Announcement - The company announced an increase in its dividend from 1% to 2% of net quarterly revenues starting January 1, 2026 [37][38]