First Majestic Silver Q1 Revenue Surges 95% on Higher Silver and Gold Prices
First Majestic Silver reported Q1 revenue of $476.7 million, up 95% year-over-year, driven by higher realized silver and gold prices, with net earnings of $128.1 million.
First Majestic Silver Corp. (NYSE:AG) reported strong first-quarter results for 2026, with revenue surging 95% year-over-year to $476.7 million, driven by higher realized prices for both silver and gold.
The company posted net earnings of $128.1 million, or $0.26 per share, and adjusted net earnings of $151.7 million, or $0.31 per share. Free cash flow reached $223.5 million after paying $95.5 million in taxes, while operating cash flow before working capital and taxes climbed 182% to $310.6 million. EBITDA grew to $306.8 million, and mine operating earnings jumped to $266.6 million. Throughput increased by 12%, contributing to the improved operational performance.
For precious metals traders, First Majestic's results underscore the favorable pricing environment for silver and gold. Higher realized prices directly benefit mining companies' profitability and cash flow, which can support share prices and sector sentiment. The strong earnings and cash flow generation also highlight the operational leverage in the mining industry when metal prices rise. Investors tracking gold and silver prices can check NowPrice's gold page for current pricing context.
Looking ahead, the company's performance will depend on sustained precious metals prices and operational efficiency. Key factors to watch include central bank gold buying trends, real yield movements, and upcoming economic data that could influence metal demand. First Majestic's ability to maintain throughput growth and cost control will also be critical for future quarters.