First Majestic Silver advances Santa Elena permits, shares supported by drilling results

First Majestic Silver has secured construction permits for new portals at the Santo Nino and Navidad zones of its Santa Elena mine in Sonora, Mexico. The company pairs the permits with fresh drilling data and a planned 12 million dollar development budget for 2026.

By Daniel Hoffmann, Chart & Technicals desk. Reviewed prior to publication on 2026-06-26, 17:26.

First Majestic Silver Corp (CA32076V1031) outlines new development steps at its Santa Elena Silver/Gold Mine in Sonora, Mexico, backed by fresh drilling results and construction permits received this week. The stock trades on the NYSE under the ticker AG, where precious metals miners remain closely compared with peers such as Pan American Silver and Hecla Mining.

New permits at Santa Elena

The company has received construction permits for portals at the Santo Nino and Navidad targets within the Santa Elena district, enabling underground access to zones that have been the focus of recent drilling programs. According to a company statement summarized by Yahoo Finance, First Majestic plans to invest an additional 12 million dollars in 2026 to advance underground development and prepare Santo Nino for near-term mining.

Alongside the permitting update, the miner reports infill drilling at Santo Nino and Navidad returning several significant silver and gold intercepts, including high-grade intervals from resource conversion drilling. Coverage on StreetInsider notes that the latest work aims to convert Inferred Mineral Resources to Indicated status, tightening confidence around the ore bodies and supporting future mine planning.

Drilling results underpin the plan

Further detail carried by Investing.com highlights that First Majestic completed 26,904 meters of drilling across 69 holes at Santo Nino in 2026, a program targeted at converting existing Inferred resources into Indicated resources over key parts of the deposit. At the Navidad zone, the company completed 7,704 meters across 10 holes, building a dataset that will feed into updated resource models for the broader Santa Elena district.

The same coverage explains that the drilling programs are designed not only to upgrade resource classifications but also to better define the geometry and continuity of mineralization, which is central for underground development decisions. This operational focus links closely with the new construction permits, as the company can now translate drilling data into concrete access to those zones, with capital already earmarked for the 2026 work program.

Analyst focus on earnings and silver exposure

For equity investors, the Santa Elena update arrives against a backdrop of a published earnings calendar for First Majestic Silver on MarketBeat, where the site lists the company with a closing share price of 16.51 dollars on the NYSE as of June 25, 2026, and notes extended trading at 16.64 dollars early on June 26, 2026. MarketBeat tracks upcoming earnings dates and consensus expectations, offering a snapshot of how the company is positioned within the silver mining segment.

Analyst commentary often situates First Majestic among mid-tier silver producers with leveraged exposure to the silver price, and the focus on Santo Nino and Navidad fits into that narrative by targeting higher-grade underground zones at Santa Elena. Market commentary from sources including Yahoo Finance and StreetInsider stresses that the combination of permits, drilling results and a defined investment budget is intended to support future production volumes and potentially lower unit costs once the new portals are in operation.

What the company sells

First Majestic Silver generates most of its revenue from producing silver and gold at its dedicated mines in Mexico, including the Santa Elena operation that blends open pit and underground mining with a processing plant. Its business model centers on selling silver and gold bullion and concentrates into international markets, where realized prices track global precious metal benchmarks.

Where the stock trades today

As of June 25, 2026, Verifiable exchange data compiled by MarketBeat indicates that First Majestic Silver shares closed at 16.51 dollars on the NYSE, with extended trading reported at 16.64 dollars early on June 26, 2026.

First Majestic Silver at a glance

• Company: First Majestic Silver Corp.
• ISIN: CA32076V1031
• WKN: A0LHKJ
• Ticker: AG
• Trading venue: NYSE
• Price (as of 2026-06-25, 15:59): 16.51 USD
• Market cap: 4.0 billion USD (as of 2026-06-25)
• Sector / industry: Materials - Precious Metals & Mining
• Index membership: Not a member of major headline indices such as the S&P 500
• Next earnings date: 2026-08-08

This article was produced with AI assistance and editorially reviewed. Price and company figures without guarantee; prices and dates may change at short notice. No investment advice, no buy or sell recommendation. Stock-market transactions carry risks up to and including total loss.