First Majestic Posts $74.5M Q3 Profit, Withdraws San Dimas Guidance on Strike
AG sits 51% above its 52-week low of $10.19.
Summary
First Majestic reported Q3 revenue of $394.1M (+38%) and net earnings of $74.5M ($0.15 EPS), but withdrew San Dimas guidance as a labour strike keeps that mine shut, with a ruling expected in late November.
Key Events · Earnings and Guidance · AG
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Q3 Earnings Beat on Higher Metal Prices
Revenue rose 38% to $394.1M and net earnings attributable to owners reached $74.5M ($0.15 EPS), driven by a 59% higher realized silver price of $61.52/oz and 23% higher gold price of $4,195/oz.
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San Dimas Guidance Withdrawn on Strike
Operations at San Dimas have been suspended since a labour disruption began September 18, 2026; the National Union called a strike October 8, 2026, and the Company withdrew the mine's annual production and cost guidance pending a ruling expected in the second half of November.
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$30.7M One-Time Mexican Tax Settlement
A one-time current tax expense of $30.7M was recorded for the MLE settlement of a legacy forward silver purchase agreement and 2017 reassessment, reducing reported net earnings.
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Balance Sheet Remains Strong
The Company ended the quarter with $1.23B in treasury (including $162.9M restricted cash), $882.3M working capital and $1,042.2M available liquidity, and generated $85.5M of free cash flow.
Analysis · AG · Energy & Transportation
The quarter's earnings power is real: revenue rose 38% to $394.1M and net earnings attributable to owners hit $74.5M ($0.15 EPS), powered by record realized silver prices ($61.52/oz, +59%). Yet the same filing confirms that San Dimas — one of four producing mines — remains shut by a strike that began September 18, 2026, and management has withdrawn the mine's annual production and cost guidance entirely. That withdrawal is the number that matters. The company is profitable and liquid ($1.23B treasury, $882.3M working capital), so it can absorb the disruption, but the size of the hit is now unquantified until a ruling expected in the second half of November. A one-time $30.7M Mexican tax settlement also dented the quarter.
How filings like this one have moved
In the 30 days to Nov 5, 2026, 43.4% of the 1274 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.16%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AG was trading at $15.40 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.6B. The 52-week trading range was $10.19 to $32.04. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.