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Shares of First Majestic Silver Corp. (AG) rose more than 8% on Thursday after the company reported a better-than-expected, record quarterly revenue.
First Majestic’s Q4 revenue surged 169% year-on-year to $463.9 million, well above Wall Street’s estimates of $403.8 million, according to Fiscal.ai data. The company swung to a net profit of $105.2 million from a $13.5 million loss a year earlier, but earnings of $0.17 per share fell short of analysts’ expectations of $0.20 per share.
The company said 60% of its total Q4 revenue came from silver sales. It also declared a quarterly cash dividend of $0.0083 per share.
The company reported record silver production in Q4, producing 4.2 million ounces, up 77% from 2.4 million ounces a year earlier. Full-year silver output reached a record 15.4 million ounces, an 84% increase from 2024 levels.
The growth was driven by the acquisition of the Los Gatos Silver Mine and higher production at the San Dimas and La Encantada mines. The company completed its purchase of Gatos Silver in January 2025, adding a 70% stake in the Los Gatos mine in Mexico.
First Majestic ended the year with a record $937.7 million in cash.
Separately, the company announced that Daniel Muñiz Quintanilla resigned as a director effective Feb. 8, 2026.
Retail sentiment flipped to ‘bullish’ from ‘bearish’ a day earlier, amid high’ message volumes.

One user said the company’s minting business is growing fast.
Another user highlighted the company’s strong fundamentals.
Year-to-date, AG shares have gained 44%.
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