First Majestic Silver Corp.
AG · NYSE · producer · market cap $10.3B as of 24 Aug 2026
What First Majestic Silver Corp.'s own filings say about its costs, margins and results, every figure cited.
First Majestic Silver Corp. share price
- Latest AISC$25.68/ozRank 4 of 8release
- Margin at today's spot
- Silver produced, attributable6.73Msource
Today's spot price minus the latest reported mining cost. Reporting periods vary. This is an illustrative spread, not reported profit. Methodology
Company-reported data · Fixed cohorts · No estimated costs
How to read these figures
- Primary sources: every figure is the company's own, cited to the release or filing it came from.
- Fixed cohorts: the companies in each median are set for the calendar year, so a median never moves because membership moved.
- No modelled costs: no cost or margin here is estimated by us; where a company states no figure, the page says so.
About First Majestic Silver Corp.
First Majestic Silver has assembled a portfolio of silver and gold mines, properties and projects that includes four producing mines it operates in Mexico, three wholly owned and one, the Los Gatos Silver Mine, 70% owned. It also owns the Jerritt Canyon Gold Mine in Elko, Nevada, USA. It owns and operates four producing mines in Mexico: the wholly-owned San Dimas Silver/Gold Mine in Durango State, the wholly-owned Santa Elena Silver/Gold Mine in Sonora State, a 70% joint venture interest in the Los Gatos Silver Mine in Chihuahua and the wholly-owned La Encantada Silver Mine in Coahuila State. The interest was acquired in January 2025 and is held through the Los Gatos Joint Venture with Dowa Metal & Mining Co., Ltd. On December 31, 2025, the company had a total of 5,535 employees and/or contractors.
Costs and margins
- Price, quarter average
- $73.50/toz
- AISC
- $25.68/oz
- Margin
- $47.82/oz
- Margin, % of price
- 65.1%
Latest AISC $25.68 per troy ounce. Silver miners: median AISC $31.29 per troy ounce, Q2 2026, 8 reporters. 4 lowest of 8 silver miners reporting Q2 2026.
| Category | Silver price (quarterly average) | All-in sustaining cost (AISC) |
|---|---|---|
| Q3 2025 | $39.60 | $20.90 |
| Q4 2025 | $54.10 | $23.48 |
| Q1 2026 | $84.00 | $29.76 |
| Q2 2026 | $73.50 | $25.68 |
| Category | Silver price (quarterly average) | All-in sustaining cost (AISC) |
|---|---|---|
| Q3 2022 | $19.20 | $17.83 |
| $21.30 | $20.69 | |
| Q1 2023 | $22.50 | $20.90 |
| $24.20 | $21.52 | |
| Q3 2023 | $23.60 | $19.74 |
| $23.20 | $18.50 | |
| Q2 2024 | $28.80 | $21.64 |
| $33.70 | $21.02 | |
| Q3 2025 | $39.60 | $20.90 |
| $54.10 | $23.48 | |
| $84.00 | $29.76 | |
| Q2 2026 | $73.50 | $25.68 |
| Category | Silver price (quarterly average) | All-in sustaining cost (AISC) |
|---|---|---|
| Q3 2020 | $24.50 | $9.94 |
| $24.40 | $15.92 | |
| $26.30 | $19.35 | |
| Q2 2021 | $26.70 | $19.42 |
| $24.30 | $19.93 | |
| $23.40 | $17.26 | |
| Q1 2022 | $24.00 | $20.87 |
| $22.70 | $19.91 | |
| $19.20 | $17.83 | |
| Q4 2022 | $21.30 | $20.69 |
| $22.50 | $20.90 | |
| $24.20 | $21.52 | |
| Q3 2023 | $23.60 | $19.74 |
| $23.20 | $18.50 | |
| $28.80 | $21.64 | |
| Q2 2025 | $33.70 | $21.02 |
| $39.60 | $20.90 | |
| $54.10 | $23.48 | |
| $84.00 | $29.76 | |
| Q2 2026 | $73.50 | $25.68 |
| Category | Silver price (quarterly average) | All-in sustaining cost (AISC) |
|---|---|---|
| Q3 2019 | $17.10 | $10.76 |
| $17.30 | $12.25 | |
| $16.90 | $12.99 | |
| $16.30 | $18.57 | |
| Q3 2020 | $24.50 | $9.94 |
| $24.40 | $15.92 | |
| $26.30 | $19.35 | |
| $26.70 | $19.42 | |
| Q3 2021 | $24.30 | $19.93 |
| $23.40 | $17.26 | |
| $24.00 | $20.87 | |
| $22.70 | $19.91 | |
| Q3 2022 | $19.20 | $17.83 |
| $21.30 | $20.69 | |
| $22.50 | $20.90 | |
| $24.20 | $21.52 | |
| Q3 2023 | $23.60 | $19.74 |
| $23.20 | $18.50 | |
| $28.80 | $21.64 | |
| $33.70 | $21.02 | |
| $39.60 | $20.90 | |
| $54.10 | $23.48 | |
| $84.00 | $29.76 | |
| Q2 2026 | $73.50 | $25.68 |
All-in sustaining cost (AISC) and the average silver price by quarter, newest first, US$ per ounce; every row cites the company's own release.
| Quarter | Price avg | AISC | Margin | Margin % | Source |
|---|---|---|---|---|---|
| Q2 2026 | $73.50 | $25.68 | $47.82 | 65.1% | release |
| Q1 2026 | $84.00 | $29.76 | $54.24 | 64.6% | release |
| Q4 2025 | $54.10 | $23.48 | $30.62 | 56.6% | release |
| Q3 2025 | $39.60 | $20.90 | $18.70 | 47.2% | release |
| Q2 2025 | $33.70 | $21.02 | $12.68 | 37.6% | release |
| Q2 2024 | $28.80 | $21.64 | $7.16 | 24.9% | release |
| Q4 2023 | $23.20 | $18.50 | $4.70 | 20.3% | release |
| Q3 2023 | $23.60 | $19.74 | $3.86 | 16.4% | release |
| Q2 2023 | $24.20 | $21.52 | $2.68 | 11.1% | release |
| Q1 2023 | $22.50 | $20.90 | $1.60 | 7.1% | release |
| Q4 2022 | $21.30 | $20.69 | $0.61 | 2.9% | release |
| Q3 2022 | $19.20 | $17.83 | $1.37 | 7.1% | release |
| Q2 2022 | $22.70 | $19.91 | $2.79 | 12.3% | release |
| Q1 2022 | $24.00 | $20.87 | $3.13 | 13.0% | release |
| Q4 2021 | $23.40 | $17.26 | $6.14 | 26.2% | release |
| Q3 2021 | $24.30 | $19.93 | $4.37 | 18.0% | release |
| Q2 2021 | $26.70 | $19.42 | $7.28 | 27.3% | release |
| Q1 2021 | $26.30 | $19.35 | $6.95 | 26.4% | release |
| Q4 2020 | $24.40 | $15.92 | $8.48 | 34.8% | release |
| Q3 2020 | $24.50 | $9.94 | $14.56 | 59.4% | release |
| Q2 2020 | $16.30 | $18.57 | -$2.27 | -13.9% | release |
| Q1 2020 | $16.90 | $12.99 | $3.91 | 23.1% | release |
| Q4 2019 | $17.30 | $12.25 | $5.05 | 29.2% | release |
| Q3 2019 | $17.10 | $10.76 | $6.34 | 37.1% | release |
Its panel on the Miner Margins page carries the cohort it sits in and the basis notes.
Production and guidance
Q2 2026, as reported
- Silver produced, attributable
- 6,727,304 silver equivalent ounces
- Prior-quarter silver production
- 6,424,039 silver equivalent ounces
More ways to compare First Majestic Silver Corp.
- Reported AISC
- Rank 4 of 8View comparable rankings
First Majestic Silver's mines and operations
| Ownership | Jurisdiction | Status | Source | |
|---|---|---|---|---|
| San Dimas Silver/Gold Mine | Not available | Durango and Sinaloa States, Mexico | Operating | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| Santa Elena Silver/Gold Mine | Not available | Sonora, Mexico | Operating | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| Los Gatos Silver Mine | Not available | Chihuahua, Mexico | Active producing | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| La Encantada Silver Mine | Not available | Not available | Operating mine | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| Jerritt Canyon Gold Mine | wholly-owned | Not available | Temporary suspension | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| San Martin | Not available | Not available | Temporary suspension | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| Del Toro Silver Mine | Not available | Not available | Not available | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| Ermitaño | 100% | Not available | Not available | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| Smith Mine | Not available | Not available | Not available | 40-F (filed 31 Mar 2026); fiscal year 2025 |
| SSX Mine | Not available | Not available | Not available | 40-F (filed 31 Mar 2026); fiscal year 2025 |
Financials, as filed
Key financials
- Revenue
- $1.3B
- Net income
- $164.9M
- Operating cash flow
- $526.0M
- Capital expenditure
- $62.1M
- Cash and equivalents
- $793.4M
- Debt
- $292.2M
- EPS (diluted)
- $0.34
Rounded from the figures as filed; the exact figures, concepts and filings are below.
Figures as filed, with concept, provenance and filing
| Measure | Period | Value | Provenance | Filing |
|---|---|---|---|---|
| Revenue ifrs-full:Revenue | FY 2025 | $1,257,157,000 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| Net income ifrs-full:ProfitLossAttributableToOwnersOfParent | FY 2025 | $164,923,000 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| EPS (basic) ifrs-full:BasicEarningsLossPerShare | FY 2025 | $0.34 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| EPS (diluted) ifrs-full:DilutedEarningsLossPerShare | FY 2025 | $0.34 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| Operating cash flow ifrs-full:CashFlowsFromUsedInOperatingActivities | FY 2025 | $526,010,000 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| Capital expenditure ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities | FY 2025 | $62,096,000 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| Cash and equivalents ifrs-full:CashAndCashEquivalents | FY 2025 | $793,435,000 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| Debt ifrs-full:Borrowings | FY 2025 | $292,216,000 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| Shares outstanding dei:EntityCommonStockSharesOutstanding | FY 2025 | 491,322,304 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
| Dividends paid ifrs-full:DividendsPaid | FY 2025 | $9,840,000 | SEC XBRL, as filed | 40-F · 31 Mar 2026 |
Annual figures only: this company files no quarterly XBRL with the SEC.
Seven-year statement history
Each fiscal year as the company first filed it with the SEC, in the currency it filed, never converted.
| Statement line | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | not available | $560,604,000 | $573,801,000 | $624,221,000 | $584,117,000 | $363,876,000 | $363,944,000 |
| Operating income | not available | not available | not available | not available | not available | not available | not available |
| Net income | not available | -$101,885,000 | not available | not available | not available | not available | not available |
| Operating cash flow | not available | $151,970,000 | $55,614,000 | $18,988,000 | $68,723,000 | $79,713,000 | $140,025,000 |
| Capital expenditure | not available | $20,024,000 | $31,987,000 | $59,705,000 | $56,558,000 | $43,322,000 | $41,625,000 |
| Cash and equivalents | not available | $202,180,000 | $125,581,000 | $151,438,000 | $237,926,000 | $238,578,000 | $169,009,000 |
| Debt | not available | $209,482,000 | $219,812,000 | $210,362,000 | $181,234,000 | $152,708,000 | $155,818,000 |
| Dividend per share | not available | not available | not available | not available | not available | not available | not available |
| Source | not available | 40-F · 1 Apr 202540-F · 31 Mar 2026 | 40-F · 2 Apr 2024 | 40-F · 31 Mar 2023 | 40-F · 31 Mar 2022 | 40-F · 31 Mar 2021 | 40-F · 30 Mar 2020 |
- A dash means the SEC filings carry no figure for that year. It is never zero.
Filings
| Date | Source |
|---|---|
| 30 Jul 2026 | 6-K(30 Jul 2026) |
| 30 Jul 2026 | 6-K(30 Jul 2026) |
| 9 Jul 2026 | 6-K(9 Jul 2026) |
| 7 Jul 2026 | 6-K(7 Jul 2026) |
| 26 Jun 2026 | 6-K(26 Jun 2026) |
| 22 Jun 2026 | 6-K(22 Jun 2026) |
How to read this page
Costs are the company's own consolidated all-in sustaining cost (gold, silver) or C1 cash cost (copper), as stated, on the basis the company states; the reference price is the quarter's average from World Bank Commodity Price Data (CC BY 4.0); the margin is that price less the stated cost, a production-cost spread and not company net profit; financials are as filed in the filing currency, never converted; report dates are confirmed from the company's notice or estimated from its own past pattern and say which. The full methodology is on the Miner Margins page.