Shares of First Majestic Silver Corp. (AG) rose more than 4% in pre-market trading 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.
Get updates on this developing story on Stocktwits.
For updates and corrections, email newsroom[at]stocktwits[dot]com.