First Majestic Silver Corp's latest earnings report shows a miss on EPS estimates, despite strong revenue growth.
First Majestic Silver Corp (AG.TO) recently reported its second-quarter results for 2026, falling short of EPS estimates by 1.37%. While the company saw significant revenue growth, concerns about rising costs and inventory levels have emerged, casting a shadow over its performance.
Recent earnings trend
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First Majestic Silver Corp
AG.TO
AG.TO
First Majestic Silver Corp
WealthAwesomeMarket cap
$10.57B
P/E
25.8x
Div. yield
0.16%
Div. / share
$0.04
52W high
$43.65
52W low
$10.67
1W change
-5.27%
Beta
2.11
Analyst Price Targets
Based on analyst covering AG
Wall Street analysts forecast AG stock price to rise 58.5% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$34.75
+58.5% Upside
Current Price
C$21.93
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on AG's historical volatility
30-Day Vol
57.9%
Annualized
90-Day Vol
69.1%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$18.34
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$20.66 | C$16.92 – C$25.23 |
| 60 trading days | C$19.47 | C$14.68 – C$25.82 |
| 90 trading days | C$18.34 | C$12.98 – C$25.92 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-30 | 0.2959 | 0.3000 | -1.4% |
| 2026-03-31 | 2026-05-12 | 0.4200 | 0.4300 | -2.3% |
| 2025-12-31 | 2026-02-19 | 0.4100 | 0.3100 | +32.3% |
| 2025-09-30 | 2025-11-05 | 0.1000 | 0.1100 | -9.1% |
| 2025-06-30 | 2025-08-14 | 0.0600 | 0.0700 | -14.3% |
| 2025-03-31 | 2025-05-06 | 0.0689 | 0.1003 | -31.3% |
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Investor takeaway: Investors should think about how rising costs and increased inventory might affect First Majestic's profitability. However, the strong revenue growth and operational improvements could support future performance.
Q2 2026 EPS Misses Estimates at $0.2959 vs. $0.3 Estimate
The earnings miss highlights ongoing challenges in managing costs and inventory levels, even as revenue hits record highs.
Bull case
The company reported record revenue of $416 million, a 53% increase year-over-year, along with strong EBITDA growth of 110%. With a solid treasury of $1.25 billion, First Majestic has the financial flexibility to tackle challenges and invest in growth.
Bear case
Despite the significant revenue growth, First Majestic missed EPS estimates. Rising all-in sustaining costs and increased finished goods inventory may pressure margins in the future. Additionally, labor disruptions and uncertainties regarding tax settlements also pose risks.
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