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AG US​
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AG US​
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First Majestic Silver Corp(AG US)

$13.65-0.342.43%Ext:$13.74+0.090.66%(Market Closed · 00:55:20 UTC)
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First Majestic Silver Corp(AG US)

$13.65-0.342.43%Ext:$13.74+0.090.66%(Market Closed · 00:55:20 UTC)
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Doc SearchProfileEntity StructureFinancialsChartingShort InterestEmployees

Overview

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Documents

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FinancialsChartingShort InterestEmployees

Financials & Metrics

FinancialsChartingShort InterestEmployees

First Majestic Silver Corp — Company Profile

First Majestic Silver Corp. is a North American mining company dedicated to the exploration, acquisition, development, and operation of mineral properties, primarily concentrating on silver and gold output. The company fully owns and operates a portfolio of significant mining assets. In Mexico, these include the San Dimas Silver/Gold Mine (71,868 hectares in Durango and Sinaloa), the Santa Elena Silver/Gold Mine (102,244 hectares in Sonora), the La Encantada Silver Mine (4,076 hectares in Coahuila, complemented by 1,343 hectares of surface rights), the La Parrilla Silver Mine (69,478 hectares in Durango), the Del Toro Silver Mine (comprising 3,815 hectares of mining concessions and 219 hectares of surface rights in Zacatecas), the San Martin Silver Mine (12,795 hectares across 33 mining concessions in Jalisco), and the La Guitarra Silver Mine (39,714 hectares). Beyond Mexico, its holdings extend to the Jerritt Canyon gold mine, spanning approximately 30,821 hectares in Elko County, Nevada. Additionally, First Majestic maintains an interest in the Springpole project, a gold and silver prospect encompassing around 41,913 hectares in Ontario, Canada. Established in 1979, the firm initially operated as First Majestic Resource Corp. before adopting its current name, First Majestic Silver Corp., in November 2006. Its corporate headquarters are located in Vancouver, Canada.

Sector
Basic Materials
Industry
Silver
Exchange
UN
CEO
Keith N. Neumeyer
Headquarters
Vancouver, A1, CA
IPO Date
Nov 28, 2006
Employees
4,000
Website
www.firstmajestic.com

Key Metrics

Price
$17.67
Market Cap
$8.71B
Revenue (TTM)
$470.07M
Net Income (TTM)
$126.32M
EPS (TTM)
0.26
P/E (TTM)
29.60
P/B (TTM)
3.00
Dividend Yield
17.75%
ROE (TTM)
4.35%
ROA (TTM)
2.61%
Operating Margin
49.51%
Beta
2.56

Dividends

Last Dividend
$0.02
Last Yield
0.18%

Summary

First Majestic Silver Corp. is a North American mining company dedicated to the exploration, acquisition, development, and operation of mineral properties, primarily concentrating on silver and gold output. The company fully owns and operates a portfolio of significant mining assets. In Mexico, these include the San Dimas Silver/Gold Mine (71,868 hectares in Durango and Sinaloa), the Santa Elena Silver/Gold Mine (102,244 hectares in Sonora), the La Encantada Silver Mine (4,076 hectares in Coahuila, complemented by 1,343 hectares of surface rights), the La Parrilla Silver Mine (69,478 hectares in Durango), the Del Toro Silver Mine (comprising 3,815 hectares of mining concessions and 219 hectares of surface rights in Zacatecas), the San Martin Silver Mine (12,795 hectares across 33 mining concessions in Jalisco), and the La Guitarra Silver Mine (39,714 hectares). Beyond Mexico, its holdings extend to the Jerritt Canyon gold mine, spanning approximately 30,821 hectares in Elko County, Nevada. Additionally, First Majestic maintains an interest in the Springpole project, a gold and silver prospect encompassing around 41,913 hectares in Ontario, Canada. Established in 1979, the firm initially operated as First Majestic Resource Corp. before adopting its current name, First Majestic Silver Corp., in November 2006. Its corporate headquarters are located in Vancouver, Canada.

Website
www.firstmajestic.com
Location
Vancouver, A1, CA
Phone16046883033
Employees4,000
CEOKeith N. Neumeyer
SectorBasic Materials
Industry
Silver
IPO DateNov 28, 2006

Ask AI

Company overview
Business model, segments, and competition.
Peer comparison
Metrics vs closest competitors.
Guidance & outlook
Forward guidance and assumptions.
Bull vs bear case
Upside drivers and key risks.
Valuation snapshot
Multiples vs history and peers.
Competitive moat
Defensibility and market position.
Management track record
Leadership and capital allocation history.
How it makes money
A short diagram of the business model.

Latest Documents

SEC Filings(576)

Expand
  • 6-KCurrent report (foreign private issuer)12 Nov
  • 6-KCurrent report (foreign private issuer)5 Nov
  • 6-KCurrent report (foreign private issuer)13 Oct
  • 6-KCurrent report (foreign private issuer)8 Oct
  • 6-KCurrent report (foreign private issuer)9 Sep
  • 6-KCurrent report (foreign private issuer)25 Aug
  • SC 13G/AFIRST MAJESTIC SILVER CORP14 Aug
  • SDSD31 Jul
  • 6-KCurrent report (foreign private issuer)30 Jul
  • 6-KCurrent report (foreign private issuer)30 Jul
  • 6-KCurrent report (foreign private issuer)8 Jul
  • 6-KCurrent report (foreign private issuer)7 Jul
  • 6-KCurrent report (foreign private issuer)25 Jun
  • 6-KCurrent report (foreign private issuer)22 Jun
  • 6-KCurrent report (foreign private issuer)10 Jun
  • 6-KCurrent report (foreign private issuer)12 May
  • 6-KCurrent report (foreign private issuer)29 Apr
  • 6-KCurrent report (foreign private issuer)29 Apr
  • 6-KCurrent report (foreign private issuer)9 Apr
  • 6-KCurrent report (foreign private issuer)2 Apr

News

  • First Majestic Reports Positive Exploration Results at Jerritt Canyon and Provides Restart Progress Update12 Nov
  • First Majestic Silver Q3 Earnings Call Highlights6 Nov
  • First Majestic Silver Corp. (AG:CA) Q3 2026 Earnings Call Transcript5 Nov
  • First Majestic Announces Q3 2026 Financial Results and Quarterly Dividend Payment5 Nov
  • First Majestic Silver: It Needs Its Best Quarter Of The Year To Hit Guidance30 Oct
  • Avalon Rare Metals (OTCMKTS:AVLNF) vs. First Majestic Silver (NYSE:AG) Critical Survey17 Oct
  • First Majestic Announces Temporary Suspension of NAFTA Arbitration Proceedings as Settlement Framework Agreed to with Mexico13 Oct
  • First Majestic's Silver Production Decreases 11% Y/Y in Q312 Oct
  • Fortuna Mining's Q3 Gold-Equivalent Production Dips Sequentially12 Oct
  • First Majestic Silver Corp. (NYSE:AG) Stock Has Average Price Target of $24.7512 Oct
  • First Majestic Reports Q3 2026 Production Results, Announces Q3 Conference Call Details and Renewal of Share Repurchase Program8 Oct
  • Can First Majestic Meet Its Upbeat 2026 Production Guidance?6 Oct
  • Analyzing Vox Royalty (NASDAQ:VOXR) and First Majestic Silver (NYSE:AG)4 Oct
  • Implied Volatility Surging for First Majestic Silver Stock Options29 Sep
  • First Majestic Silver Eyes Growth, Jerritt Canyon Restart as Silver Deficit Deepens29 Sep
  • First Majestic Silver Eyes Growth, Jerritt Canyon Restart as Silver Deficit Deepens28 Sep
  • First Majestic Silver Corp. (TSE:AG) Given Average Recommendation of “Buy” by Analysts22 Sep
  • First Majestic Silver Corp: $1 Billion Treasury Could Facilitate More Exciting Merger Activity21 Sep
  • First Majestic's 2026 Outlook: Silver Production Targets Continued Scale Post-Acquisition21 Sep
  • Gold, Silver Gain as Oil Prices Ease & Dollar Weakens: 4 Stocks to Watch18 Sep

Mentions in Filings

  • … Guitarra, subject to a 1.0% buyback for $2.0 million. The Company's NSR royalty covers 100% of the Guitarra complex, including the Guitarra, Coloso, and Nazareno mines. ***La Encantada*** On November 5, 2026, <strong>First Majestic Silver Corp</strong>. ("**First Majestic**") reported in its third quarter management's discussion and analysis production of 52 oz of gold from La Encantada in the third quarter of 2026 (35 oz in the second quarter; 30 oz in the th …
    Metalla Royalty & Streaming Ltd.First Majestic Silver Corp·EX-99.6 - 6-K - EXHIBIT 99.6·Q3 26·12 Nov
  • … t Mining also owns a 20% project interest in the Pickle Crow Gold Project in Ontario and large equity interest in Seva Mining Corp. First Mining was established in 2015 by Mr. Keith Neumeyer, founder and CEO of <strong>First Majestic Silver Corp</strong>. **ON BEHALF OF FIRST MINING GOLD CORP.** Daniel W. Wilton *Chief Executive Officer and Director* ***Cautionary Note Regarding Forward-Looking Statements*** *This news release includes certain "forward-look …
    First Mining Gold Corp.First Majestic Silver Corp·EX-99.1 - 6-K - NEWS RELEASE DATED NOVEMBER 11, 2026·Q4 26·12 Nov
  • … "*Alamos Gold Reports Second Quarter 2026 Results*", and Alamos' press release dated October 28, 2026 titled *"Alamos Gold Reports Third Quarter 2026 Results"*, all filed on www.sedarplus.ca. *Ermitaño Royalty (<strong>First Majestic Silver Corp</strong>.)* OR Royalties holds a 2% NSR royalty on the Ermitaño underground gold and silver mine ("Ermitaño") operated by First Majestic Silver Corp. ("First Majestic") and located in Sonora State, Mexico. *Guidance - …
    OR Royalties Inc.First Majestic Silver Corp·EX-99.2 - 6-K - EXHIBIT 99.2·Q3 26·12 Nov
  • On June 10, 2020, the Company entered into a silver purchase agreement (the “Silver Purchase Agreement”) with <strong>First Majestic Silver Corp</strong>. (“First Majestic”), closing on July 2, 2020. Under the agreement, First Majestic paid total consideration of US$22.5 million, and the Company issued common share purchase warrants, for the right to purchase 50.0% of payable silver produced from the Springpole Gold Project over the life of mine (the “Silver Stre …
    First Mining Gold Corp.First Majestic Silver Corp·EX-99.1 - 6-K - CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS·Q4 26·10 Nov
  • … e locations for the Project. These workstreams are foundational to supporting the upcoming FS completion. Additionally, the Company is finalizing the Statement of Work (“SOW”) for all remaining scopes to transition into the detailed permitting phase in Q4 2026. Work will continue to advance Springpole and Birch-Uchi exploration activities to identify and follow-up on exploration targets. Silver Stream Transaction with <strong>First Majestic Silver Corp</strong>.
    First Mining Gold Corp.First Majestic Silver Corp·EX-99.2 - 6-K - MANAGEMENTS AND DISCUSSION·Q4 26·10 Nov
  • **Jerritt Canyon Project** (0.5% NSR; “**Jerritt Canyon**”): In its third quarter report released on October 8, 2026, First Majestic Silver Corp. (“**First Majestic**”) stated that Jerritt Canyon remained on track to resume production in the second half of 2027. Underground rehabilitation totaled 5,965 metres year-to-date, and development of certain stope access drives commenced during the third quarter. First Majestic stated that approximately 1 …
    Gold Royalty Corp.First Majestic Silver Corp·EX-99.1 - 6-K - Current report (foreign private issuer)·Q4 26·4 Nov

Key Stats

Trading

Px/Chg 1D$17.67 / +0.06%
Prev Close$20.97
% of 52Wk H64.78%
Avg Volume16.54M
Beta2.56
Mkt Cap8.71B
FD Mkt Cap10.23B

Float

Shrs Out/Float493.03M / 487.51M
Short Float0.04%
Days to Cover1.50
Stock Repurchased$0.00

Current Valuation

EV8.46B
EV/EBITDA9.49
EV/Sales5.67
P/B3.00
P/S5.84
FCF Yield2.12%
ROE4.35%
ROA2.61%
Current Ratio2.73

Dividend

Cash$0.02
Yield17.75%
Yield (TTM)17.75%

Estimates

P/E29.60
Est P/E0.00
Est EPS0.33
Est PEG0.00

Valuation

Metric5Yr AvgMay '23May '24Apr '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings30.97-15.93-15.15-18.25137.2566.92
Price / Sales10.472.903.553.3224.5917.98
Price / Book Value2.261.291.511.384.202.91
Price / Free Cash Flow22.17-9.28-20.4250.4544.3545.77
ENTERPRISE VALUE METRICS
Enterprise Value5,142.01,917.22,177.41,893.411,518.38,203.5
Enterprise Value / Sales10.423.063.783.3824.4517.45
Enterprise Value / EBITDA11.6121.55-39.9616.0333.2327.17
Enterprise Value / EBIT-31.16-39.56-12.05-180.5342.6733.68

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue21.5%587.2626.9576.4560.61,279.2
Gross Income44.8%101.416.825.6192.2445.3
EBITDA45.4%156.188.9-54.5118.1697.7
EBIT82.2%37.8-48.5-180.7-10.5417.0
Net Income—-4.9-114.3-135.1-101.9167.8
EPS (Diluted)—-0.02-0.43-0.49-0.340.35
BALANCE SHEET
Cash & ST Inv38.5%264.4186.0188.0252.0972.0
Total Assets21.9%2,125.02,110.01,976.41,979.84,686.4
Total Liabilities20.8%714.0698.7618.2628.71,519.2
Total Shareholder Equity18.2%1,411.01,411.31,358.11,351.12,756.0
CASH FLOW
Net Operating Cash Flow69.4%68.712.948.4152.0565.9
Cap Ex3.2%-189.0-209.1-148.7-115.1-214.3
Free Cash Flow—-120.2-196.2-100.336.8351.6

Enterprise Value Bridge

Millions USD13 Nov '26
Price (As of 13 Nov '26)13.65
Basic Shares493.03
Market Cap6,729.8
Diluted Shares501.33
Fully Diluted Shares Outstanding501.33
Fully Diluted Market Cap6,843.2
+Consolidated Debt331.1
−In-the-Money Convertible Debt—
+Capital Leases28.4
+Operating Leases—
−Cash & Equivalents-1,093.3
−Short-term Investments-155.1
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest409.3
+Pension Liabilities—
Enterprise Value6,377.0

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First Majestic Silver Corp — Company Profile

First Majestic Silver Corp. is a North American mining company dedicated to the exploration, acquisition, development, and operation of mineral properties, primarily concentrating on silver and gold output. The company fully owns and operates a portfolio of significant mining assets. In Mexico, these include the San Dimas Silver/Gold Mine (71,868 hectares in Durango and Sinaloa), the Santa Elena Silver/Gold Mine (102,244 hectares in Sonora), the La Encantada Silver Mine (4,076 hectares in Coahuila, complemented by 1,343 hectares of surface rights), the La Parrilla Silver Mine (69,478 hectares in Durango), the Del Toro Silver Mine (comprising 3,815 hectares of mining concessions and 219 hectares of surface rights in Zacatecas), the San Martin Silver Mine (12,795 hectares across 33 mining concessions in Jalisco), and the La Guitarra Silver Mine (39,714 hectares). Beyond Mexico, its holdings extend to the Jerritt Canyon gold mine, spanning approximately 30,821 hectares in Elko County, Nevada. Additionally, First Majestic maintains an interest in the Springpole project, a gold and silver prospect encompassing around 41,913 hectares in Ontario, Canada. Established in 1979, the firm initially operated as First Majestic Resource Corp. before adopting its current name, First Majestic Silver Corp., in November 2006. Its corporate headquarters are located in Vancouver, Canada.

Sector
Basic Materials
Industry
Silver
Exchange
UN
CEO
Keith N. Neumeyer
Headquarters
Vancouver, A1, CA
IPO Date
Nov 28, 2006
Employees
4,000
Website
www.firstmajestic.com

Key Metrics

Price
$17.67
Market Cap
$8.71B
Revenue (TTM)
$470.07M
Net Income (TTM)
$126.32M
EPS (TTM)
0.26
P/E (TTM)
29.60
P/B (TTM)
3.00
Dividend Yield
17.75%
ROE (TTM)
4.35%
ROA (TTM)
2.61%
Operating Margin
49.51%
Beta
2.56

Dividends

Last Dividend
$0.02
Last Yield
0.18%

Summary

First Majestic Silver Corp. is a North American mining company dedicated to the exploration, acquisition, development, and operation of mineral properties, primarily concentrating on silver and gold output. The company fully owns and operates a portfolio of significant mining assets. In Mexico, these include the San Dimas Silver/Gold Mine (71,868 hectares in Durango and Sinaloa), the Santa Elena Silver/Gold Mine (102,244 hectares in Sonora), the La Encantada Silver Mine (4,076 hectares in Coahuila, complemented by 1,343 hectares of surface rights), the La Parrilla Silver Mine (69,478 hectares in Durango), the Del Toro Silver Mine (comprising 3,815 hectares of mining concessions and 219 hectares of surface rights in Zacatecas), the San Martin Silver Mine (12,795 hectares across 33 mining concessions in Jalisco), and the La Guitarra Silver Mine (39,714 hectares). Beyond Mexico, its holdings extend to the Jerritt Canyon gold mine, spanning approximately 30,821 hectares in Elko County, Nevada. Additionally, First Majestic maintains an interest in the Springpole project, a gold and silver prospect encompassing around 41,913 hectares in Ontario, Canada. Established in 1979, the firm initially operated as First Majestic Resource Corp. before adopting its current name, First Majestic Silver Corp., in November 2006. Its corporate headquarters are located in Vancouver, Canada.

Website
www.firstmajestic.com
Location
Vancouver, A1, CA
Phone16046883033
Employees4,000
CEOKeith N. Neumeyer
SectorBasic Materials
Industry
Silver
IPO DateNov 28, 2006

Ask AI

Company overview
Business model, segments, and competition.
Peer comparison
Metrics vs closest competitors.
Guidance & outlook
Forward guidance and assumptions.
Bull vs bear case
Upside drivers and key risks.
Valuation snapshot
Multiples vs history and peers.
Competitive moat
Defensibility and market position.
Management track record
Leadership and capital allocation history.
How it makes money
A short diagram of the business model.

Latest Documents

SEC Filings(576)

Expand
  • 6-KCurrent report (foreign private issuer)12 Nov
  • 6-KCurrent report (foreign private issuer)5 Nov
  • 6-KCurrent report (foreign private issuer)13 Oct
  • 6-KCurrent report (foreign private issuer)8 Oct
  • 6-KCurrent report (foreign private issuer)9 Sep
  • 6-KCurrent report (foreign private issuer)25 Aug
  • SC 13G/AFIRST MAJESTIC SILVER CORP14 Aug
  • SDSD31 Jul
  • 6-KCurrent report (foreign private issuer)30 Jul
  • 6-KCurrent report (foreign private issuer)30 Jul
  • 6-KCurrent report (foreign private issuer)8 Jul
  • 6-KCurrent report (foreign private issuer)7 Jul
  • 6-KCurrent report (foreign private issuer)25 Jun
  • 6-KCurrent report (foreign private issuer)22 Jun
  • 6-KCurrent report (foreign private issuer)10 Jun
  • 6-KCurrent report (foreign private issuer)12 May
  • 6-KCurrent report (foreign private issuer)29 Apr
  • 6-KCurrent report (foreign private issuer)29 Apr
  • 6-KCurrent report (foreign private issuer)9 Apr
  • 6-KCurrent report (foreign private issuer)2 Apr

News

  • First Majestic Reports Positive Exploration Results at Jerritt Canyon and Provides Restart Progress Update12 Nov
  • First Majestic Silver Q3 Earnings Call Highlights6 Nov
  • First Majestic Silver Corp. (AG:CA) Q3 2026 Earnings Call Transcript5 Nov
  • First Majestic Announces Q3 2026 Financial Results and Quarterly Dividend Payment5 Nov
  • First Majestic Silver: It Needs Its Best Quarter Of The Year To Hit Guidance30 Oct
  • Avalon Rare Metals (OTCMKTS:AVLNF) vs. First Majestic Silver (NYSE:AG) Critical Survey17 Oct
  • First Majestic Announces Temporary Suspension of NAFTA Arbitration Proceedings as Settlement Framework Agreed to with Mexico13 Oct
  • First Majestic's Silver Production Decreases 11% Y/Y in Q312 Oct
  • Fortuna Mining's Q3 Gold-Equivalent Production Dips Sequentially12 Oct
  • First Majestic Silver Corp. (NYSE:AG) Stock Has Average Price Target of $24.7512 Oct
  • First Majestic Reports Q3 2026 Production Results, Announces Q3 Conference Call Details and Renewal of Share Repurchase Program8 Oct
  • Can First Majestic Meet Its Upbeat 2026 Production Guidance?6 Oct
  • Analyzing Vox Royalty (NASDAQ:VOXR) and First Majestic Silver (NYSE:AG)4 Oct
  • Implied Volatility Surging for First Majestic Silver Stock Options29 Sep
  • First Majestic Silver Eyes Growth, Jerritt Canyon Restart as Silver Deficit Deepens29 Sep
  • First Majestic Silver Eyes Growth, Jerritt Canyon Restart as Silver Deficit Deepens28 Sep
  • First Majestic Silver Corp. (TSE:AG) Given Average Recommendation of “Buy” by Analysts22 Sep
  • First Majestic Silver Corp: $1 Billion Treasury Could Facilitate More Exciting Merger Activity21 Sep
  • First Majestic's 2026 Outlook: Silver Production Targets Continued Scale Post-Acquisition21 Sep
  • Gold, Silver Gain as Oil Prices Ease & Dollar Weakens: 4 Stocks to Watch18 Sep

Mentions in Filings

  • … Guitarra, subject to a 1.0% buyback for $2.0 million. The Company's NSR royalty covers 100% of the Guitarra complex, including the Guitarra, Coloso, and Nazareno mines. ***La Encantada*** On November 5, 2026, <strong>First Majestic Silver Corp</strong>. ("**First Majestic**") reported in its third quarter management's discussion and analysis production of 52 oz of gold from La Encantada in the third quarter of 2026 (35 oz in the second quarter; 30 oz in the th …
    Metalla Royalty & Streaming Ltd.First Majestic Silver Corp·EX-99.6 - 6-K - EXHIBIT 99.6·Q3 26·12 Nov
  • … t Mining also owns a 20% project interest in the Pickle Crow Gold Project in Ontario and large equity interest in Seva Mining Corp. First Mining was established in 2015 by Mr. Keith Neumeyer, founder and CEO of <strong>First Majestic Silver Corp</strong>. **ON BEHALF OF FIRST MINING GOLD CORP.** Daniel W. Wilton *Chief Executive Officer and Director* ***Cautionary Note Regarding Forward-Looking Statements*** *This news release includes certain "forward-look …
    First Mining Gold Corp.First Majestic Silver Corp·EX-99.1 - 6-K - NEWS RELEASE DATED NOVEMBER 11, 2026·Q4 26·12 Nov
  • … "*Alamos Gold Reports Second Quarter 2026 Results*", and Alamos' press release dated October 28, 2026 titled *"Alamos Gold Reports Third Quarter 2026 Results"*, all filed on www.sedarplus.ca. *Ermitaño Royalty (<strong>First Majestic Silver Corp</strong>.)* OR Royalties holds a 2% NSR royalty on the Ermitaño underground gold and silver mine ("Ermitaño") operated by First Majestic Silver Corp. ("First Majestic") and located in Sonora State, Mexico. *Guidance - …
    OR Royalties Inc.First Majestic Silver Corp·EX-99.2 - 6-K - EXHIBIT 99.2·Q3 26·12 Nov
  • On June 10, 2020, the Company entered into a silver purchase agreement (the “Silver Purchase Agreement”) with <strong>First Majestic Silver Corp</strong>. (“First Majestic”), closing on July 2, 2020. Under the agreement, First Majestic paid total consideration of US$22.5 million, and the Company issued common share purchase warrants, for the right to purchase 50.0% of payable silver produced from the Springpole Gold Project over the life of mine (the “Silver Stre …
    First Mining Gold Corp.First Majestic Silver Corp·EX-99.1 - 6-K - CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS·Q4 26·10 Nov
  • … e locations for the Project. These workstreams are foundational to supporting the upcoming FS completion. Additionally, the Company is finalizing the Statement of Work (“SOW”) for all remaining scopes to transition into the detailed permitting phase in Q4 2026. Work will continue to advance Springpole and Birch-Uchi exploration activities to identify and follow-up on exploration targets. Silver Stream Transaction with <strong>First Majestic Silver Corp</strong>.
    First Mining Gold Corp.First Majestic Silver Corp·EX-99.2 - 6-K - MANAGEMENTS AND DISCUSSION·Q4 26·10 Nov
  • **Jerritt Canyon Project** (0.5% NSR; “**Jerritt Canyon**”): In its third quarter report released on October 8, 2026, First Majestic Silver Corp. (“**First Majestic**”) stated that Jerritt Canyon remained on track to resume production in the second half of 2027. Underground rehabilitation totaled 5,965 metres year-to-date, and development of certain stope access drives commenced during the third quarter. First Majestic stated that approximately 1 …
    Gold Royalty Corp.First Majestic Silver Corp·EX-99.1 - 6-K - Current report (foreign private issuer)·Q4 26·4 Nov

Key Stats

Trading

Px/Chg 1D$17.67 / +0.06%
Prev Close$20.97
% of 52Wk H64.78%
Avg Volume16.54M
Beta2.56
Mkt Cap8.71B
FD Mkt Cap10.23B

Float

Shrs Out/Float493.03M / 487.51M
Short Float0.04%
Days to Cover1.50
Stock Repurchased$0.00

Current Valuation

EV8.46B
EV/EBITDA9.49
EV/Sales5.67
P/B3.00
P/S5.84
FCF Yield2.12%
ROE4.35%
ROA2.61%
Current Ratio2.73

Dividend

Cash$0.02
Yield17.75%
Yield (TTM)17.75%

Estimates

P/E29.60
Est P/E0.00
Est EPS0.33
Est PEG0.00

Valuation

Metric5Yr AvgMay '23May '24Apr '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings30.97-15.93-15.15-18.25137.2566.92
Price / Sales10.472.903.553.3224.5917.98
Price / Book Value2.261.291.511.384.202.91
Price / Free Cash Flow22.17-9.28-20.4250.4544.3545.77
ENTERPRISE VALUE METRICS
Enterprise Value5,142.01,917.22,177.41,893.411,518.38,203.5
Enterprise Value / Sales10.423.063.783.3824.4517.45
Enterprise Value / EBITDA11.6121.55-39.9616.0333.2327.17
Enterprise Value / EBIT-31.16-39.56-12.05-180.5342.6733.68

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue21.5%587.2626.9576.4560.61,279.2
Gross Income44.8%101.416.825.6192.2445.3
EBITDA45.4%156.188.9-54.5118.1697.7
EBIT82.2%37.8-48.5-180.7-10.5417.0
Net Income—-4.9-114.3-135.1-101.9167.8
EPS (Diluted)—-0.02-0.43-0.49-0.340.35
BALANCE SHEET
Cash & ST Inv38.5%264.4186.0188.0252.0972.0
Total Assets21.9%2,125.02,110.01,976.41,979.84,686.4
Total Liabilities20.8%714.0698.7618.2628.71,519.2
Total Shareholder Equity18.2%1,411.01,411.31,358.11,351.12,756.0
CASH FLOW
Net Operating Cash Flow69.4%68.712.948.4152.0565.9
Cap Ex3.2%-189.0-209.1-148.7-115.1-214.3
Free Cash Flow—-120.2-196.2-100.336.8351.6

Enterprise Value Bridge

Millions USD13 Nov '26
Price (As of 13 Nov '26)13.65
Basic Shares493.03
Market Cap6,729.8
Diluted Shares501.33
Fully Diluted Shares Outstanding501.33
Fully Diluted Market Cap6,843.2
+Consolidated Debt331.1
−In-the-Money Convertible Debt—
+Capital Leases28.4
+Operating Leases—
−Cash & Equivalents-1,093.3
−Short-term Investments-155.1
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest409.3
+Pension Liabilities—
Enterprise Value6,377.0

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