First Majestic Silver Gains Global Recognition with FTSE Index Inclusion

First Majestic Silver enters the FTSE All-World Index after pivoting to a profitability-focused strategy and reporting a 50% surge in mineral resources, driving its stock up over 210% YTD.

A strategic pivot toward profitability and a dramatically expanded resource base have propelled Canadian silver miner First Majestic Silver into the FTSE All-World Index, marking a significant milestone for the company. This achievement follows a substantial upgrade to its mineral reserves and a clear shift in corporate strategy.

A Strategic Shift to Quality over Quantity

First Majestic Silver is deliberately moving away from a pure volume-driven model. For 2026, the company is targeting a reduced production range of 13.0 to 14.4 million ounces of silver, down from the prior year's record output of 15.4 million ounces. This decision underscores a new "margin over volume" philosophy. Management intends to maximize free cash flow in a supportive silver price environment by strictly focusing on mining higher-grade ore veins.

To align shareholder returns with this refined strategy, the company has doubled its revenue-linked dividend. The payout is now set at two percent of quarterly net revenues, up from the previous one percent.

Resource Base Sees Dramatic Growth

The foundation for this strategic evolution is a vastly larger resource portfolio. Measured and indicated mineral resources surged by 50 percent year-over-year to 652.8 million silver equivalent ounces. The increase was even more pronounced for inferred resources, which jumped by 69 percent.

Key contributors to this growth include the high-grade Santo Niño discovery at the Santa Elena project. Coupled with the successful integration of the Los Gatos mine, in which First Majestic holds a 70 percent stake, the company has secured a robust resource foundation for future operations.

Financial Strength Fuels Operational Investments

First Majestic enters the second quarter of 2026 from a position of considerable financial strength. The company reported record annual revenue of $1.26 billion for fiscal 2025 and holds a strong cash position of approximately $938 million. This liquidity is being strategically deployed to support operational upgrades.

Current capital investments are focused on modernizing mills at both the Santa Elena and Los Gatos sites. These enhancements are designed to technically support the new, profitability-focused mining plan.

Market Recognition and Performance

The dual impact of the strategic repositioning and the inclusion in the FTSE All-World Index—which typically triggers mandatory buying from index-tracking funds—is reflected in the market. On a year-to-date basis, the stock has already advanced by more than 210 percent, closing Wednesday's trading session at €19.16.