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First Majestic Silver Corp

www: www.firstmajestic.com   email: info@firstmajestic.com
Category: Emerging Major
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Symbol Data

Symbol Currency
NYSE:AG USD
TSE:AG CAD

Description

First Majestic Silver Corp are a silver focused emerging major with four producing mines in Mexico and USA, one mine in development in Mexico and three exploration properties. Currently they produce roughly 22.0Moz. of silver per year. They have approximately 630Moz. of silver in the reserves and resources category of which 350Moz. are in the measured and indicated category. They have a market capitalisation of ~$1775.1M which is a fall of roughly 12% over the last two months. As of 07/13/2024 they have ~$201M debt and ~$229M cash. They have 290M shares outstanding and trade on the New York Stock Exchange and the Toronto Stock Exchange.

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General Details

Financial 07/13/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $2,009.95M $1,775.10M 07/13/2024 $-234.85M
Total Assets: $1,019.00M $1,019.00M 07/13/2024 $0.00M
Total Liabilities: $374.00M $374.00M 07/13/2024 $0.00M
Current Assets: $300.00M $300.00M 07/13/2024 $0.00M
Current Liabilities: $78.00M $78.00M 07/13/2024 $0.00M
Total Debt: $201.00M $201.00M 07/13/2024 $0.00M
Cash: $229.00M $229.00M 07/13/2024 $0.00M
Enterprise Value: $1,981.95M $1,747.10M 05/12/2025 $-234.85M
Cash Flow: $104.28M $61.60M never $-42.68M
Cash Flow Multiple: 19.27 28.82 never 9.54
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 07/13/2024 n/a
Misc 07/13/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 290,272,939 290,272,939 07/13/2024 0
Shares (FD): 305,000,000 305,000,000 07/13/2024 0
Insider Ownership: n/a n/a 01/14/2018 n/a
Dividend (Annual): n/a 0.36% 08/01/2024 0.36%
Company Type: Mostly Silver Mostly Silver never n/a
Production ETA: n/a n/a 07/13/2024 n/a
Production (Gold Eq Oz.): (guess) 
280,556		 (guess) 
256,414		 07/13/2024 -24,142
Production (Silver Eq Oz.): (guess) 
22,000,000		 (guess) 
22,000,000		 07/13/2024 0
Initial CapEx (Outstanding): n/a n/a 07/13/2024 n/a
Funding Option: n/a n/a 07/13/2024 n/a
Documentation: none PRODUCER 08/01/2024 n/a
Future MCap Modifier: 0.3
Producer: Elite Quality
 0.3
Producer: Elite Quality
 04/24/2023 0
Cash Flow Multiplier: 12 15 07/20/2024 3.00

Resource Data

GOLD 07/13/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 07/13/2024 0.00M
Measured & Indicated: n/a n/a 07/13/2024 0.00M
Inferred: n/a n/a 07/13/2024 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 07/13/2024 0.00M
Measured & Indicated: n/a n/a 07/13/2024 0.00M
Inferred: n/a n/a 07/13/2024 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/13/2024 $0.00
Extra Operating Cost: n/a n/a 07/13/2024 $0.00
Total: n/a n/a 07/13/2024 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 07/13/2024 n/a
Open Pit (Avg): n/a n/a 07/09/2023 n/a
Recovery Rate: n/a n/a 07/13/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 07/13/2024 0.00M
Annual Production: n/a n/a 07/13/2024 n/a
Cash Cost: n/a n/a 07/13/2024 n/a
Extra Operating Cost: n/a n/a 07/13/2024 n/a
SILVER 07/13/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 180.00M 180.00M 07/13/2024 0.00M
Measured & Indicated: 350.00M 350.00M 07/13/2024 0.00M
Inferred: 280.00M 280.00M 07/13/2024 0.00M
Reserves & Resources: 630.00M 630.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 162.00M 162.00M 07/13/2024 0.00M
Measured & Indicated: 284.40M 284.40M 07/13/2024 0.00M
Inferred: 126.00M 126.00M 07/13/2024 0.00M
Reserves & Resources: 410.40M 410.40M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
22,000,000oz.		 (guess) 
22,000,000oz.		 07/13/2024 0oz.
Cash Cost: $15.00 $15.00 07/13/2024 $0.00
Extra Operating Cost: $11.00 $12.00 08/01/2024 $1.00
Total: $26.00 $27.00 08/01/2024 $1.00
Margin (Free Cash Flow): $4.74 (15.42%) $2.80 (9.40%) $-1.94
G
R
A
D
E		 Underground (Avg): 375.00 g/t 375.00 g/t 07/13/2024 n/a
Open Pit (Avg): n/a n/a 07/09/2023 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 08/01/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: 500.00M 500.00M 07/13/2024 0.00M
Annual Production: 30,000,000oz. 25,000,000oz. 07/20/2024 -5,000,000oz.
Cash Cost: $17.00 $17.00 07/13/2024 $0.00
Extra Operating Cost: $11.00 $11.00 07/13/2024 $0.00

Property

Last Analysis Data  (07/13/2024)
Stage Name Owned Au Ag Cu Notes
Prod La Encantada 100% show
2023

P&P: 13.6M AG OZ
M&I: 31.6M AG OZ
Inf: 19.3M AG OZ

2023E PRODUCTION
3.1M - 3.3M AG OZ
Prod San Dimas 100% show
2023

P&P: 37.8M AG + 460K AU OZ
M&I: 54.5M AG + 681K AU OZ
Inf: 42.0M AG + 489K AU OZ

2023E Production
12.9M - 13.7M AgEq OZ
(6.4M - 6.8M AG OZ + 78K - 83K AU OZ)
Prod Santa Elena 100% show
2023

P&P: 10.1M AG + 320K AU OZ
M&I: 15.6M AG + 467K AU OZ
Inf: 12.4M AG + 313K AU OZ

2023E PRODUCTION
8.5M - 9.1M AgEq OZ
(0.9M - 1.0M AG OZ + 91K - 97K AU OZ)
Dev Del Toro 100% show
1 of 5 long life producing mines. Number 6 is under development.

2023 -

M&I: 7.6M AgEq OZ
Inf: 11.2M AgEq OZ

January 2020 temporarily suspended (improve operations)
Exp Jalisco 100% n/a
Exp La Luz 100% n/a
Exp San Martin 65% show
Past producing mine


2023

M&I: 9.0M AG + 17K AU OZ
Inf: 18.4M AG + 29K AU OZ

July 2019 temporarily suspended (security & safety issues)
Prod Jerritt Canyon 100% show
75,000 oz a year production.

Plans to increase production to 3000 tpd at 5.5 gpt = 175K oz


2023 -

M&I: 1,691K AU OZ
INF: 1,542K AU OZ

March 2023 temporarily suspended
Total Land Package Size (ha): 40,220  
Current Data
Stage Name Owned Au Ag Cu Notes
Prod La Encantada 100% show
2023

P&P: 13.6M AG OZ
M&I: 31.6M AG OZ
Inf: 19.3M AG OZ

2023E PRODUCTION
3.1M - 3.3M AG OZ
Prod San Dimas 100% show
2023

P&P: 37.8M AG + 460K AU OZ
M&I: 54.5M AG + 681K AU OZ
Inf: 42.0M AG + 489K AU OZ

2023E Production
12.9M - 13.7M AgEq OZ
(6.4M - 6.8M AG OZ + 78K - 83K AU OZ)
Prod Santa Elena 100% show
2023

P&P: 10.1M AG + 320K AU OZ
M&I: 15.6M AG + 467K AU OZ
Inf: 12.4M AG + 313K AU OZ

2023E PRODUCTION
8.5M - 9.1M AgEq OZ
(0.9M - 1.0M AG OZ + 91K - 97K AU OZ)
Dev Del Toro 100% show
1 of 5 long life producing mines. Number 6 is under development.

2023 -

M&I: 7.6M AgEq OZ
Inf: 11.2M AgEq OZ

January 2020 temporarily suspended (improve operations)
Exp Jalisco 100% n/a
Exp La Luz 100% n/a
Exp San Martin 65% show
Past producing mine


2023

M&I: 9.0M AG + 17K AU OZ
Inf: 18.4M AG + 29K AU OZ

July 2019 temporarily suspended (security & safety issues)
Prod Jerritt Canyon 100% show
75,000 oz a year production.

Plans to increase production to 3000 tpd at 5.5 gpt = 175K oz


2023 -

M&I: 1,691K AU OZ
INF: 1,542K AU OZ

March 2023 temporarily suspended
Total Land Package Size (ha): 40,220  

Profitability (by resource)

Proven &
Probable		 07/13/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a -0.20M
Total (Silver Eq. Oz.): 180.00M 180.00M n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a -0.18M
Silver Eq. Oz.: 162.00M 162.00M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $767.88M $453.60M n/a $-314.28M
Total Maximum Profit: $767.88M $453.60M n/a $-314.28M
Max Profit / Current MCap: 0.382 0.256 n/a -0.127
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $2.52 $1.49 n/a $-1.03
Total Max Profit Per Share: $2.52 $1.49 n/a $-1.03
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $972.91 $940.13 n/a $-32.78
FD MCap / Silver Eq.: $12.41 $10.96 n/a $-1.45
FD MCap / Per Metal
as % Spot Price:		 40.36% 36.77% n/a -3.59%
Measured &
Indicated		 07/13/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a -0.38M
Total (Silver Eq. Oz.): 350.00M 350.00M n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a -0.31M
Silver Eq. Oz.: 284.40M 284.40M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $1,348.06M $796.32M n/a $-551.74M
Total Maximum Profit: $1,348.06M $796.32M n/a $-551.74M
Max Profit / Current MCap: 0.671 0.449 n/a -0.222
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $4.42 $2.61 n/a $-1.81
Total Max Profit Per Share: $4.42 $2.61 n/a $-1.81
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $554.19 $535.52 n/a $-18.67
FD MCap / Silver Eq.: $7.07 $6.24 n/a $-0.83
FD MCap / Per Metal
as % Spot Price:		 22.99% 20.94% n/a -2.05%

Reserves &
Resources		 07/13/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a -0.69M
Total (Silver Eq. Oz.): 630.00M 630.00M n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a -0.45M
Silver Eq. Oz.: 410.40M 410.40M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $1,945.30M $1,149.12M n/a $-796.18M
Total Maximum Profit: $1,945.30M $1,149.12M n/a $-796.18M
Max Profit / Current MCap: 0.968 0.647 n/a -0.320
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $6.38 $3.77 n/a $-2.61
Total Max Profit Per Share: $6.38 $3.77 n/a $-2.61
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $384.04 $371.10 n/a $-12.94
FD MCap / Silver Eq.: $4.90 $4.33 n/a $-0.57
FD MCap / Per Metal
as % Spot Price:		 15.93% 14.51% n/a -1.42%

Future Valuation (Cash Flow & Totals)

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