First Majestic Silver Corp (AG)

NYSEMaterialsSilverSnapshot 2026-11-04

$15.39+9.15%

Close 2026-11-04 · 1-day change

Investment OutlookAs of Nov 4, 2026

What could strengthen or challenge First Majestic Silver Corp’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-0.7%

+10% or more+5%0%−5%−10% or less

0.98 → 0.98 EPS · FY ending Dec 31, 2027 · 2 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 2 to 2; this is not the number of analysts revising. The ±10% axis is a display range.

Price, analyst earnings & P/E reference

The EPS and P/E reference is not available for AG yet.

Measure / period	Management expectations	Analyst expectations

Management figures unavailable.

Current consensus figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
earnings per share growth	Analysts expect earnings of $1.05 per share in 2026 and $1.10 in 2027.	Broken	EPS falls below $1.05 in FY26 or below $1.10 in FY27	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
operational performance and cost control	A supporting condition in First Majestic Silver Corp's published investment case. The stated target is operational issues improve and costs stabilize within next 2 quarters.	Under Pressure	operational problems worsen or persist beyond next 2 quarters	Production miss reported vs stable ops target Recent news highlights a production miss and the need for a best-in-year quarter to meet guidance, confirming ongoing operational pressure. Nov 4, 2026Last status assessment Nov 4, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
production per share levels	The company is not loss-making and has potential to recover production levels.	Intact	production per share continues to decline over next 4 quarters	Qualitative condition This condition has no defined numerical measure. Nov 4, 2026Last status assessment Nov 4, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
silver price stability	A supporting condition in First Majestic Silver Corp's published investment case. The stated target is silver prices stabilize or improve over next 4 quarters.	Under Pressure	silver prices decline significantly over next 4 quarters	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$0.98

$0.99 → $0.98 · observed estimates

FY2027 revenue$1.79B

Unavailable → $1.79B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$0.99	Unavailable	3 / 0
2026-07-25	$0.99	Unavailable	3 / 0
2026-07-26	$0.99	Unavailable	3 / 0
2026-07-27	$1.04	$1,917,269,000	2 / 1
2026-07-28	$0.99	Unavailable	3 / 0
2026-07-29	$1.01	Unavailable	2 / 0
2026-07-30	$1.01	Unavailable	2 / 0
2026-07-31	$1.05	$2,703,934,000	2 / 1
2026-08-01	$1.05	$2,703,934,000	2 / 1
2026-08-02	$0.98	$2,650,898,000	4 / 2
2026-08-03	$0.98	$2,650,898,000	4 / 2
2026-08-04	$0.98	$2,650,898,000	4 / 2
2026-08-05	$1.02	$2,650,898,000	4 / 2
2026-08-06	$1.02	$2,650,898,000	4 / 2
2026-08-07	$0.96	$1,828,169,009	2 / 2
2026-08-08	$1.02	$2,650,898,000	4 / 2
2026-08-09	$0.96	$1,828,169,009	2 / 2
2026-08-10	$1.02	$2,650,898,000	4 / 2
2026-08-11	$1.02	$2,650,898,000	4 / 2
2026-08-12	$1.02	$2,643,555,500	4 / 2
2026-08-13	$1.02	$2,643,555,500	4 / 2
2026-08-14	$0.96	$1,828,169,009	2 / 2
2026-08-15	$0.96	$1,828,169,009	2 / 2
2026-08-16	$0.96	$1,828,169,009	2 / 2
2026-08-17	$0.96	$1,828,169,009	2 / 2
2026-08-18	$0.96	$1,828,169,009	2 / 2
2026-08-19	$0.96	$1,828,169,009	2 / 2
2026-08-20	$0.96	$1,828,169,009	2 / 2
2026-08-21	$1.00	$1,828,073,767	2 / 2
2026-08-22	$1.00	$1,828,073,767	2 / 2
2026-08-23	$1.00	$1,828,073,767	2 / 2
2026-08-24	$1.00	$1,828,073,767	2 / 2
2026-08-25	$1.00	$1,828,073,767	2 / 2
2026-08-26	$1.00	$1,828,073,767	2 / 2
2026-08-27	$1.00	$1,828,073,767	2 / 2
2026-08-28	$1.00	$1,828,073,767	2 / 2
2026-08-29	$1.00	$1,828,073,767	2 / 2
2026-08-30	$1.00	$1,828,073,767	2 / 2
2026-08-31	$1.00	$1,828,073,767	2 / 2
2026-09-01	$1.00	$1,828,073,767	2 / 2
2026-09-02	$1.00	$1,828,073,767	2 / 2
2026-09-03	$1.00	$1,828,073,767	2 / 2
2026-09-04	$1.00	$1,828,073,767	2 / 2
2026-09-05	$1.00	$1,828,073,767	2 / 2
2026-09-06	$1.00	$1,828,073,767	2 / 2
2026-09-07	$1.00	$1,828,073,767	2 / 2
2026-09-08	$1.00	$1,828,073,767	2 / 2
2026-09-09	$1.00	$1,828,073,753	2 / 2
2026-09-10	$1.00	$1,828,073,753	2 / 2
2026-09-11	$1.00	$1,828,073,767	2 / 2
2026-09-12	$1.00	$1,828,073,767	2 / 2
2026-09-13	$1.00	$1,828,073,767	2 / 2
2026-09-14	$1.00	$1,828,073,767	2 / 2
2026-09-15	$1.00	$1,828,073,767	2 / 2
2026-09-16	$1.00	$1,828,073,767	2 / 2
2026-09-17	$1.00	$1,828,073,767	2 / 2
2026-09-18	$1.00	$1,828,073,767	2 / 2
2026-09-19	$1.00	$1,828,073,767	2 / 2
2026-09-20	$1.00	$1,828,073,767	2 / 2
2026-09-21	$1.00	$1,828,073,767	2 / 2
2026-09-22	$1.01	$1,828,073,767	2 / 2
2026-09-23	$1.01	$1,828,073,767	2 / 2
2026-09-24	$1.01	$1,828,073,767	2 / 2
2026-09-25	$1.01	$1,828,073,767	2 / 2
2026-09-26	$1.01	$1,828,073,767	2 / 2
2026-09-27	$1.01	$1,828,073,767	2 / 2
2026-09-28	$1.01	$1,828,073,767	2 / 2
2026-09-29	$0.99	$1,828,073,767	2 / 2
2026-09-30	$0.99	$1,828,073,767	2 / 1
2026-10-01	$0.99	$1,828,073,767	2 / 1
2026-10-02	$0.99	$1,828,073,767	2 / 1
2026-10-03	$0.98	$1,828,073,767	2 / 1
2026-10-04	$0.98	$1,828,073,767	2 / 1
2026-10-05	$0.98	$1,828,073,767	2 / 1
2026-10-06	$0.98	$1,828,073,767	2 / 1
2026-10-07	$0.98	$1,828,073,767	2 / 1
2026-10-08	$0.98	$1,828,073,767	2 / 1
2026-10-09	$0.98	$1,828,073,767	2 / 1
2026-10-10	$0.98	$1,791,840,433	2 / 2
2026-10-11	$0.98	$1,791,840,433	2 / 2
2026-10-12	$0.98	$1,791,840,433	2 / 2
2026-10-13	$0.98	$1,791,840,433	2 / 2
2026-10-14	$0.97	$1,786,790,416	2 / 2
2026-10-15	$0.97	$1,786,790,416	2 / 2
2026-10-16	$0.97	$1,786,790,416	2 / 2
2026-10-17	$0.97	$1,786,790,416	2 / 2
2026-10-18	$0.97	$1,786,790,416	2 / 2
2026-10-19	$0.97	$1,786,790,416	2 / 2
2026-10-20	$0.97	$1,786,790,416	2 / 2
2026-10-21	$0.97	$1,786,666,667	2 / 2
2026-10-22	$0.97	$1,786,666,667	2 / 2
2026-10-23	$0.97	$1,786,666,667	2 / 2
2026-10-24	$0.97	$1,786,666,667	2 / 2
2026-10-25	$0.97	$1,786,666,667	2 / 2
2026-10-26	$0.97	$1,786,666,667	2 / 2
2026-10-27	$0.97	$1,786,666,667	2 / 2
2026-10-28	$0.98	$1,786,790,400	2 / 2
2026-10-29	$0.98	$1,786,790,400	2 / 2
2026-10-30	$0.98	$1,786,790,400	2 / 2
2026-10-31	$0.98	$1,786,790,400	2 / 2
2026-11-01	$0.98	$1,786,790,400	2 / 2
2026-11-02	$0.98	$1,786,790,400	2 / 2
2026-11-03	$0.98	$1,786,790,400	2 / 2
2026-11-04	$0.98	$1,786,790,400	2 / 2

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-06-01	4	2	1
2026-07-01	5	2	1
2026-08-01	5	1	0
2026-09-01	5	1	0
2026-10-01	5	1	0
2026-11-01	5	1	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 5 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Oct 6–Nov 4 · 1 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

H.C. WainwrightOct 9 · prior Jul 31

$27.00 → $25.50-5.6%

$0$14.85$29.70

0 raises · 1 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

earnings per share growthPublished status: Broken
operational performance and cost controlPublished status: Under Pressure
production per share levelsQualitative condition
silver price stabilityPublished status: Under Pressure

Next proof point

Nov 5, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.3%Typical daily move · historical

Downside history

-55.9%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

First Majestic Silver Corp outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 31, 2026

What kind of bet this is

AG is a high-risk cyclical Materials exposure, where results can be sensitive to economic conditions and sector trends. The long-term thesis is currently insufficiently clear because recent financial-performance history is too limited to assess its state.

What's priced into First Majestic Silver Corp

The evidence does not provide a valuation level or specific market expectations, so whether AG is cheap, fair, or expensive versus peers cannot be assessed. The available pricing evidence shows low fragility, but that does not establish what expectations are already reflected.

What the fundamentals likely do

Near term, the risk of an earnings miss is elevated: AG is in a high-miss-rate industry and has a run of consecutive misses. The sector context recently weakened, while a 3-month jobs average of +51k per month raises concern that further labor-market weakness could weigh on cyclical businesses.

What First Majestic Silver Corp hinges on

Over the coming quarters, continued earnings strength and higher guidance from Materials bellwethers LIN, FCX, and SHW could support the sector backdrop. Misses or lower guidance from those companies, or further weakening in jobs data, could remove that support and increase recession concerns.