First Majestic's Q4 Silver-Equivalent Production Jumps 37% Y/Y

Core Insights - First Majestic Silver Corp. reported a total production of 7.8 million silver-equivalent ounces in Q4 2025, marking a 37% year-over-year increase driven by a 77% surge in silver production [1][9] Production Highlights - The fourth quarter production included a record 4.2 million silver ounces and 41,417 gold ounces, along with 14.2 million pounds of zinc, 8.1 million pounds of lead, and 235,886 pounds of copper [1] - The San Dimas mine produced 2.45 million AgEq ounces, with silver production increasing by 10% year-over-year [3] - The Santa Elena mine produced 2.28 million AgEq ounces, down 16% year-over-year [3] - La Encantada produced 1 million ounces of silver, up 32% from Q4 2024, driven by a 20% growth in ore processed and an 11% increase in silver grades [4] - Los Gatos contributed 2.09 million AgEq ounces, including 1.49 million ounces of silver [4] Strategic Developments - In January 2025, First Majestic completed the acquisition of Gatos Silver, Inc., securing a 70% interest in the Cerro Los Gatos mine, enhancing its position as an intermediate primary silver producer [2] - The company initiated its 2025 drilling program at the Jerritt Canyon mine, completing 5,889 meters of drilling in Q4 2025, exceeding its annual target [5] Financial Updates - First Majestic announced an increase in its quarterly dividend from 1% to 2% of net quarterly revenues [6] - For 2026, the company expects silver production to be between 13-14 million ounces, with gold production projected at 116,000-129,000 ounces [7] Market Performance - First Majestic's stock price increased by 249.3% over the past year, outperforming the industry average of 208.2% [10]