First Majestic Silver Posts Record Q2 Revenue of $415.5M, Net Earnings of $109.4M, and Lifts Guidance
AG sits 96% above its 52-week low of $7.74.
Summary
First Majestic Silver delivered Q2 revenue of $415.5M and net earnings of $109.4M, raised its 2026 production guidance, and declared a sharply higher dividend, underscoring strong operations and surging metal prices.
Key Events · Earnings and Guidance · AG
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Record Q2 Financial Results
Revenue climbed 57% year-over-year to $415.5 million, fueled by a 90% jump in realized silver prices and a 40% rise in gold prices. Net earnings attributable to owners hit $109.4 million, or $0.22 per share, more than double the prior-year quarter.
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Massive Free Cash Flow Generation
After paying $46.8 million in cash taxes, the company generated $194.6 million in free cash flow, lifting its treasury to a record $1,252.7 million—a 34% increase from year-end 2025.
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Dividend Quadrupled Year-over-Year
A quarterly cash dividend of $0.0152 per share was declared, nearly four times higher than the same period last year. It is payable on August 31, 2026 to shareholders of record on August 14.
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Share Buyback Executed
During Q2, 1.2 million common shares were repurchased and cancelled for US$22.7 million at an average price of CAD$26.18 per share under the existing repurchase program.
Analysis · AG · Energy & Transportation
A standout quarter saw revenue surge 57% year-over-year to $415.5 million, while net earnings more than doubled to $109.4 million. Free cash flow reached $194.6 million, swelling the treasury to a record $1.25 billion—a 34% jump from year-end. Higher realized silver and gold prices were the primary drivers, but operational gains also contributed, with silver production up 3% and gold up 2%. Reflecting this strength, the board declared a quarterly dividend of $0.0152 per share, nearly four times the prior-year level, and the company repurchased 1.2 million shares for $22.7 million. With costs running well below guidance and the balance sheet fortified, First Majestic raised its 2026 production outlook, signaling confidence in sustained momentum.
At the time of this filing, AG was trading at $15.15 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.5B. The 52-week trading range was $7.74 to $32.04. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.