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B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9% B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9%
Earnings

First Majestic Announces Financial Results for Q3 2025 and Quarterly Dividend Payment

By The Northwire Desk — AI Analysis Nov 05, 2025 · 07:02 AG · 16.28 First Majestic Silver Corp.
AG · Price

Executive Summary

  • First Majestic Silver reported record Q3 2025 results – silver production up 96% YoY to 3.9 M oz and revenue up 95% YoY to $285.1 M.
  • Mine operating earnings surged to $99.1 M (‑$70.6 M vs. Q3 2024) and net earnings turned positive at $43.0 M ($0.06 EPS).
  • Cash position reached a record $568.8 M; the company declared a cash dividend of $0.0052 per share for Q3 2025.

Key Details

  • Production: 3,863,673 silver oz (incl. 1,408,467 oz from Los Gatos); 35,681 gold oz; 7,651,058 AgEq oz.
  • Revenue: $285.1 M (56% from silver), driven by a 45% increase in payable AgEq ounces sold and a 31% rise in realized silver price to $39.03/oz.
  • Operating Earnings: Mine operating earnings $99.1 M; adjusted for depletion, EBITDA $128.6 M.
  • Cash Flow: Operating cash flow $141.3 M ($0.29/share); free cash flow $98.8 M.
  • Costs: Cash cost $14.83/AgEq oz (‑2% YoY); AISC $20.90/AgEq oz (‑1% YoY).
  • Liquidity: Total treasury $568.8 M (cash $435.4 M, restricted cash $133.4 M); total liquidity $682.0 M including undrawn revolving credit facility.
  • Dividend: Cash dividend of $0.0052 per common share declared; payable ~Nov 28 2025 to shareholders of record Nov 14 2025.
  • Mine‑by‑Mine Production (Q3 2025):
  • Los Gatos – 1,408,467 silver oz, 727 gold oz, 2,125,666 AgEq oz.
  • Santa Elena – 412,669 silver oz, 20,979 gold oz, 2,256,695 AgEq oz.
  • San Dimas – 1,467,344 silver oz, 13,945 gold oz, 2,690,893 AgEq oz.
  • La Encantada – 575,193 silver oz, 30 gold oz, 577,803 AgEq oz.
  • Legal Update: Mexican Supreme Court upheld a 2012 tax reassessment against PEM (PEM = First Majestic’s wholly‑owned subsidiary). NAFTA arbitration on the APA remains pending.
  • Conference Call: Hosted Nov 5 2025, 8:30 a.m. PT / 11:30 a.m. ET; dial‑in numbers and webcast link provided.

Notable Quotes

“Our record Q3 results reflect the successful integration of Los Gatos and continued operational excellence at San Dimas, positioning First Majestic for sustained growth.” – Keith Neumeyer, President & CEO

Materiality: Material – Positive (record production, revenue, earnings, and cash position; dividend declaration).

Read the original news release →

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First Majestic’s cash hoard swells past $1.1B as record earnings pile up, but sliding output and rising costs hint that the silver windfall may be masking operational fatigue.

Earnings