Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the release of its 2023 Annual Report (the "Report") titled "20 Years. The Silver Evolution". The Report encompasses the Company's vision and mission, its values, its commitment to achieving its goals, and its 20-year evolution to becoming one of the world's largest silver producers."It is with great pleasure that we release ou ...

Vancouver, British Columbia--(Newsfile Corp. - May 24, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce that effective as of market open Monday, May 27, 2024, First Majestic's stock ticker symbol on the Toronto Stock Exchange (the "TSX") will change from "FR" to "AG".As a result of this change, "AG" will now be the ticker symbol for First Majestic's common shares listed in Canada on the TSX, and in the United States on the New Yo ...

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023 (UNAUDITED) 925 West Georgia Street, Suite 1800, Vancouver, B.C., Canada V6C 3L2 Phone: 604.688.3033 | Fax: 604.639.8873| Toll Free: 1.866.529.2807 | Email: info@firstmajestic.com www.firstmajestic.com Management's Responsibilities over Financial Reporting The condensed interim consolidated financial statements of First Majestic Silver Corp. (the "Company") are the responsibility of the Company's managemen ...

Key PointsSilver's surge defies expectations, with prices up 17% year-to-date, reaching $28.09 per ounce.Geopolitical tensions in Europe and the Middle East contribute to rapid increases in both silver and gold prices.Amidst the instability, iShares Silver Trust, First Majestic, MAG Silver Corp. and Silvercorp Metals Inc. offer investors exposure to the silver market, poised to benefit from the ongoing price rally.5 stocks we like better than First Majestic SilverSilver has surged impressively, defying expe ...

Investors are looking for a safe haven in precious metals, and that helped silver stocks this week.The silver market was one of the big winners on the stock market this week after silver prices hit a multiyear high. Not only did silver have a good week, but gold was up as tensions in the Middle East and concerns about inflation heated up.According to data provided by S&P Global Market Intelligence, First Majestic Silver (AG 3.27%) led the way, rising as much as 24.1% this week; Fortuna Silver Mines (FSM 4.0 ...

First Majestic Silver Corp (AG) reported an adjusted loss per share of 3 cents in fourth-quarter 2023, which beat the Zacks Consensus Estimate of a loss of 4 cents. The company had reported a loss of 7 cents per share in the year-ago quarter. Including one-time items, AG delivered earnings of 4 cents per share in the reported quarter against a loss per share of 6 cents in the year-earlier quarter.First Majestic’s revenues decreased 7.6% year over year to $137 million in the quarter under review. The average ...

Financial Performance - Revenues for 2023 were $573,801, a decrease of 8.1% from $624,221 in 2022[37]. - Net loss for the year was $135,112, compared to a loss of $114,276 in 2022, indicating a worsening financial performance[37]. - The company reported a total comprehensive loss of $154,410 in 2023, compared to a loss of $123,815 in 2022[39]. - The total cost of sales for 2023 was $423.5 million, compared to $471.7 million in 2022, reflecting a decrease of about 10.2%[194]. - The Company reported a total capital expenditure of $141.0 million in 2023, down from $229.5 million in 2022, which is a reduction of about 38.5%[194]. - The San Dimas mine generated revenue of $243.0 million in 2023, up from $228.7 million in 2022, marking an increase of approximately 6.0%[194]. - The Santa Elena mine's revenue increased to $224.4 million in 2023 from $190.2 million in 2022, representing a growth of about 18.0%[194]. - The Jerritt Canyon mine reported a revenue drop to $40.5 million in 2023 from $130.2 million in 2022, a decline of approximately 68.9%[194]. - The Company sold 290,432 silver ounces in 2023 at an average price of $26.60 per ounce, compared to 444,576 ounces at $26.20 per ounce in 2022[194]. - In 2023, the company's gross revenue from silver was $243,682 thousand, accounting for 42% of total revenue, while gold revenue was $332,703 thousand, making up 58%[199]. Assets and Liabilities - Total assets decreased to $1,976,355 in 2023 from $2,110,009 in 2022, a decline of 6.3%[43]. - Cash and cash equivalents at the end of 2023 were $125,581, down from $151,438 in 2022, representing a decrease of 17.1%[43]. - Total liabilities decreased to $618,235 in 2023 from $698,711 in 2022, a reduction of 11.5%[43]. - As of December 31, 2023, total equity increased to $1,358,120, compared to $1,411,298 as of December 31, 2022, reflecting a net loss for the period of $135,112[45]. - The company reported a total of $406,294 thousand in mining assets for 2023, down from $451,335 thousand in 2022, representing a decrease of about 10%[197]. - The Santa Elena mine's total assets increased to $363,460 thousand in 2023 from $295,489 thousand in 2022, reflecting a growth of approximately 22.9%[197]. Internal Controls and Audit - The Company's internal control over financial reporting was assessed as effective as of December 31, 2023[6]. - Deloitte LLP expressed an unqualified opinion on the effectiveness of the Company's internal control over financial reporting as of December 31, 2023[10]. - The audit was conducted in accordance with PCAOB standards, ensuring reasonable assurance about the financial statements being free of material misstatement[12]. - The audit included evaluating management's assessment of impairment indicators and the in-situ value of reserves and resources[19]. - The audit procedures involved assessing management's controls over the evaluation of income tax filing positions and disclosures[24]. Tax Matters - The Company has an ongoing tax dispute with the Mexican Tax Authorities, with potential incremental income tax liability estimated at approximately $314.2 million for the years 2010-2019[21]. - The Company has not recognized a tax liability related to the Primero tax dispute with the SAT[21]. - Current income tax is based on taxable earnings for the year, with tax rates and laws applied as of the date of the financial position statement[143]. - Deferred tax assets are recognized for deductible temporary differences only if the realization of the related tax benefit is probable[146]. - The Company reassesses recognized and unrecognized income tax assets at the end of each reporting period, considering future taxable income expectations[150]. Impairment and Restructuring - The Company recognized an impairment charge due to the recoverable amount of the Jerritt Canyon Gold Mine being lower than its carrying value[16]. - The Company identified an indicator of impairment following the temporary suspension of operations at Jerritt Canyon, leading to a reassessment of the recoverable amounts of its mining interests[134]. - The fair value of the cash-generating unit (CGU) at Jerritt Canyon was estimated using the market approach, benchmarking against recent transactions for comparable companies[135]. - The company incurred restructuring costs of $6,883 in 2023, indicating ongoing adjustments to its operational strategy[37]. Share Capital and Equity - Share capital increased to $1,879,971 in 2023 from $1,781,280 in 2022, reflecting a growth of 5.5%[43]. - The weighted average shares outstanding increased to 282,331,106 in 2023 from 263,122,252 in 2022, an increase of 7.3%[37]. - The balance of shares outstanding increased to 287,146,715 as of December 31, 2023, up from 272,577,979 in 2022[45]. - The company issued 13,919,634 shares through prospectus offerings, raising $92,092 in 2023[45]. - The company declared and paid dividends totaling $5,868 in 2023, compared to $6,867 in 2022[45]. Exploration and Mining Operations - The Jerritt Canyon Gold Mine in Nevada has been placed on temporary suspension since March 20, 2023, to focus on exploration and optimization[49]. - The company focuses its exploration efforts on mineral deposits near existing operations, ensuring significant potential for economic ore body development[96]. - Management assesses the economic recoverability of exploration costs based on geological information and existing permits[101]. - Exploration and evaluation expenditures are capitalized upon acquisition of mineral rights and are subject to impairment analysis[94].

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Anglo American plc (NGLOY) is a mining company. The Zacks Consensus Estimate for its current year earnings has been revised 21% downward over the last 60 days.FMC Corporation (FMC) is an agricultural sciences company. The Zacks Consensus Estimate for its current year earnings has been revised 7.3% downward over the last 60 days.First Majestic Silver Corp. (AG) is a mining company. The Zacks Consensus Estimate for its current year earn ...

First Majestic Silver Corp. (AG) announced that its total production reached 6.6 million silver equivalent (AgEq) ounces in the fourth quarter of 2023. The figure consists of 2.6 million silver ounces and 46,585 gold ounces.AgEq ounces produced moved up 6% from the third quarter of 2023. The 4% rise in gold output was offset by a 7% drop in silver production. The increased production was driven by Santa Elena's record quarterly production, somewhat offset by lower silver production at La Encantada due to pe ...

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022 (UNAUDITED) 925 West Georgia Street, Suite 1800, Vancouver, B.C., Canada V6C 3L2 Phone: 604.688.3033 | Fax: 604.639.8873| Toll Free: 1.866.529.2807 | Email: info@firstmajestic.com www.firstmajestic.com Management's Responsibilities over Financial Reporting The condensed interim consolidated financial statements of First Majestic Silver Corp. (the "Company") are the responsibility of the Compan ...