Equity Profile

AG

First Majestic Silver Corp.

MaterialsSilver$8.4B

May12Tue

Post-Earnings Recap

ReportedQ1-2026Pre-Market7:00 AM EDT

First Majestic Silver Corp. Misses on EPS, Stock Up 0.00%

Metric	Actual	Expected	Surprise
EPS	$0.31	N/A	-6.06%
Revenue	N/A	N/A	N/A

management commentary, guidance changes, and full analysis available with Pro.

First Majestic Silver Corp. Misses on EPS, Stock Up 0.00%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$0.31	N/A	-6.06%
Revenue	N/A	N/A	N/A

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based on numerical results only.

What It Means

First Majestic Silver Corp. reported an EPS of $0.31, slightly missing expectations. However, the stock reacted with no change, indicating that investors may have anticipated the results. The lack of revenue data and management commentary leaves uncertainty about future performance.

Company Snapshot

First Majestic Silver Corp. is a mining company focused on the production of silver and other precious metals....

Key Metrics to Watch

Silver Production

This metric indicates the company's ability to generate revenue from its core operations, which is critical for assessing performance this quarter.

N/A

Average Silver Price

The average price of silver directly impacts revenue and profitability, making it a key metric to watch this quarter.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

First Majestic Silver Corp. is a mining company focused on the production of silver and other precious metals. Operating in the materials sector, it plays a significant role in the silver industry, which is influenced by global demand for silver in various applications, including electronics and jewelry.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-92.25%

Avg Stock Reaction

-1.42%

Last Quarter Recap

In Q4-2025, First Majestic reported an EPS of $0.30, exceeding estimates by 11.11%. The stock reacted positively, gaining 9.65% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for First Majestic's upcoming earnings are mixed, with investors looking for signs of improved silver production and pricing stability.

Bull Case

If silver prices rise and production increases, the company could report stronger earnings, leading to positive market sentiment.

Bear Case

Conversely, if production falls short or costs rise significantly, the company may struggle to meet investor expectations, leading to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected silver production for Q1-2026?

Production levels are crucial for revenue generation, and any significant changes could impact investor confidence.

How have operating costs changed in relation to silver prices?

Understanding the relationship between costs and prices will help assess the company's profitability and operational efficiency.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of rising silver prices on First Majestic's profitability, as recent trends suggest a stronger demand for silver.

Supporting Evidence

Options are pricing a 10.07% move, indicating higher volatility than historical averages.

The company's recent EPS surprise of +11.11% suggests potential for positive momentum.

Previous quarters show a tendency for the stock to react positively to production increases.

Key Risk

If silver prices exceed $25 per ounce, it could significantly alter the earnings outlook and investor sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around production levels and cost management in a fluctuating silver market.

Bull Confirmed If

A silver production increase of 15% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

If operating costs rise by more than 10% without a corresponding increase in silver prices, it would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.07%

Historical Avg

±7.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings report.

Options are pricing ±10.1% while AG has averaged ±7.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.2%

30d HV

62.3%

Calls (3.4M)P/C Ratio: 0.26Puts (779K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Majestic beats earnings expectations, history suggests the stock could rise by around 9.65%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see a muted reaction.

Miss

If the company misses earnings expectations, history suggests a potential decline of around 3.66%, indicating investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on silver production levels compared to previous quarters.
2Management's commentary on operating costs and their impact on profitability.
3Any guidance on future silver price expectations.
4Insights into market demand for silver in various sectors.
5Discussion of any operational challenges faced during the quarter.

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Company Snapshot

First Majestic Silver Corp. is a mining company focused on the production of silver and other precious metals....

Key Metrics to Watch

Silver Production

This metric indicates the company's ability to generate revenue from its core operations, which is critical for assessing performance this quarter.

N/A

Average Silver Price

The average price of silver directly impacts revenue and profitability, making it a key metric to watch this quarter.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-92.25%

Avg Stock Reaction

-1.42%

Last Quarter Recap

In Q4-2025, First Majestic reported an EPS of $0.30, exceeding estimates by 11.11%. The stock reacted positively, gaining 9.65% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for First Majestic's upcoming earnings are mixed, with investors looking for signs of improved silver production and pricing stability.

Bull Case

If silver prices rise and production increases, the company could report stronger earnings, leading to positive market sentiment.

Bear Case

Conversely, if production falls short or costs rise significantly, the company may struggle to meet investor expectations, leading to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected silver production for Q1-2026?

Production levels are crucial for revenue generation, and any significant changes could impact investor confidence.

How have operating costs changed in relation to silver prices?

Understanding the relationship between costs and prices will help assess the company's profitability and operational efficiency.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of rising silver prices on First Majestic's profitability, as recent trends suggest a stronger demand for silver.

Supporting Evidence

Options are pricing a 10.07% move, indicating higher volatility than historical averages.

The company's recent EPS surprise of +11.11% suggests potential for positive momentum.

Previous quarters show a tendency for the stock to react positively to production increases.

Key Risk

If silver prices exceed $25 per ounce, it could significantly alter the earnings outlook and investor sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around production levels and cost management in a fluctuating silver market.

Bull Confirmed If

A silver production increase of 15% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

If operating costs rise by more than 10% without a corresponding increase in silver prices, it would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.07%

Historical Avg

±7.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings report.

Options are pricing ±10.1% while AG has averaged ±7.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.2%

30d HV

62.3%

Calls (3.4M)P/C Ratio: 0.26Puts (779K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Majestic beats earnings expectations, history suggests the stock could rise by around 9.65%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see a muted reaction.

Miss

If the company misses earnings expectations, history suggests a potential decline of around 3.66%, indicating investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on silver production levels compared to previous quarters.
2Management's commentary on operating costs and their impact on profitability.
3Any guidance on future silver price expectations.
4Insights into market demand for silver in various sectors.
5Discussion of any operational challenges faced during the quarter.