HomeMost PopularFirst Majestic Silver: Troublesome Troubles

First Majestic Silver: Troublesome Troubles

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Silver periodic table element, mining, science, nature, innovation

The tale of grumbles and groans in the Q3 Earnings Season for the Silver Miners Index is nearly over, and another company to join the chorus of despair was First Majestic Silver (NYSE:AG). Sadly, like Pan American (PAAS), it wasnโ€™t a defining quarter, with First Majestic reporting plummeting revenue, dwindling operating cash flow, and significantly escalating costs. These sorrowful results persisted despite moving its highest cost operation into care and maintenance, and despite reaping the benefits of much stronger metals prices after lapping easy comparisons from Q3 2022. In this update, weโ€™ll delve into the Q3 results, its per share metrics following the temporary suspension of operations at Jerritt Canyon, and whether the stock is nearing a low-risk buy zone.

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