First Majestic Silver Raises 2026 Production Guidance by 10% and Boosts Capital Investments

summarizeSummary

First Majestic Silver announced strong Q2 production, a 10% increase in 2026 silver production guidance, and a 47% boost in capital investments for growth projects, alongside a new CFO appointment.

check_boxKey Events · Earnings and Guidance · AG

• Q2 Production Outperformance

  Reported 3.8 million silver ounces (+3% Y/Y) and 34,660 gold ounces (+2% Y/Y), driven by strong performances at La Encantada and Santa Elena.

• Raised 2026 Production Guidance

  Increased consolidated silver production guidance by 10% to 14.6-15.5 million ounces and gold guidance by 7% to 128,000-135,000 ounces.

• Increased Capital Investments

  Boosted 2026 capital budget by 47% to $318-$344 million to accelerate growth projects, including the Jerritt Canyon restart and Santa Elena development.

• CFO Appointment

  Neil Beaumont, with extensive experience from Canada Pension Plan Investment Board and BHP, was appointed Chief Financial Officer, succeeding David Soares.

auto_awesomeAnalysis · AG · Energy & Transportation

First Majestic Silver reported strong Q2 production results and significantly raised its full-year 2026 production guidance for both silver and gold, indicating operational outperformance. The company also increased its capital expenditure budget by 47% to accelerate key growth projects, including the Jerritt Canyon restart and Santa Elena development. While all-in sustaining costs are projected to increase slightly, this is attributed to higher silver prices and a stronger Mexican Peso, which generally benefit revenue. The appointment of a new CFO with a strong background further supports the company's strategic direction.