AG, CA32076V1031

First Majestic Silver stock weighs output growth against Q2 miss

Published on 10/04/2026 at 10:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First Majestic Silver stock weighs Q2 growth against a USD 0.21 EPS miss on July 30, 2026. Production guidance rose to 15.5 million silver ounces.

AG, CA32076V1031, Illustration mit AI erstellt.

First Majestic Silver stock (ISIN CA32076V1031) closed at USD 17.67 on the NYSE on October 2, 2026, with a daily gain of 0.06 percent. The company paired Q2 2026 revenue growth with an earnings miss, while its updated production plan points to higher output ahead.

Production guidance moves higher

In its Q2 production release, First Majestic said Q2 2026 silver production reached 3.8 million ounces, up 3 percent from 3.7 million ounces in Q2 2025. Full-year attributable silver guidance rose to 14.6 million-15.5 million ounces, a 10 percent increase at the midpoint against the original 13.0 million-14.4 million ounce range.

The higher output plan comes with higher projected costs. First Majestic set 2026 consolidated AISC guidance at USD 27.69-28.77 per payable silver-equivalent ounce, compared with USD 26.15-27.91 previously, making cost control a key counterweight to production growth.

Revenue growth meets an earnings miss

MarketBeat reported that Q2 revenue was USD 415.5 million on July 30, 2026, up 57.3 percent from the prior-year quarter. EPS came in at USD 0.21 versus USD 0.25 expected, so the operating improvement did not translate into a consensus beat.

The finance figures also show diluted Q2 EPS of USD 0.22 and operating cash flow of USD 208.879 million for the quarter ended June 30, 2026. The small difference in EPS reflects the distinction between the standardized financial data and the adjusted figure cited in the market report.

Consensus target stays above the stock

According to MarketBeat on September 14, 2026, nine analysts gave First Majestic Silver a consensus rating of Moderate Buy and an average 12-month target of USD 23.83. That target lies 34.9 percent above the October 2 price of USD 17.67, although the Q2 earnings miss and higher AISC guidance remain material constraints.

Stock remains below its yearly high

First Majestic Silver stock closed at USD 17.67 on October 2, 2026, against a 52-week range of USD 10.19-32.04. Market capitalization stood at USD 8.7 billion and trading volume reached 8,796,326 shares, leaving the stock 44.8 percent below its yearly high.