First Majestic Silver Corp's latest earnings report shows a significant miss on EPS estimates, raising questions about the company's near-term outlook.
On July 30, 2026, First Majestic Silver Corp (TSX: AG) reported its second-quarter earnings, revealing an EPS of $0.30, which fell short of the consensus estimate of $0.35 by 14.3%. This disappointing result comes despite notable revenue growth and operational improvements, presenting a complex picture for investors.
Recent earnings trend
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First Majestic Silver Corp
AG.TO
AG.TO
First Majestic Silver Corp
WealthAwesomeMarket cap
$10.37B
P/E
20.6x
52W high
$43.65
52W low
$11.06
1W change
-8.48%
Beta
2.11
Analyst Price Targets
Based on analyst covering AG
Wall Street analysts forecast AG stock price to rise 65.2% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$34.75
+65.2% Upside
Current Price
C$21.04
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
58.5%
Annualized
90-Day Vol
69.1%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$17.60
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$19.82 | C$16.20 – C$24.26 |
| 60 trading days | C$18.68 | C$14.04 – C$24.85 |
| 90 trading days | C$17.60 | C$12.41 – C$24.96 |
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 |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-29 | — | 0.2300 | — |
| 2026-06-30 | 2026-07-30 | 0.3000 | 0.3500 | -14.3% |
| 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% |
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Investor takeaway: While First Majestic's operational metrics reflect growth, the earnings miss highlights potential challenges ahead, particularly in managing costs and market conditions. Investors should weigh these factors against the company's longer-term growth narrative.
EPS Misses Estimates by 14.3%
First Majestic reported an EPS of $0.30 compared to an estimate of $0.35, reflecting a 14.3% negative surprise, with only one beat in the last four quarters.
Bull case
First Majestic Silver has shown impressive year-over-year revenue growth, with a 57% increase to $415.5 million in Q2. The company's operational efficiencies and strong exploration activities position it well for future growth, especially if silver prices rebound.
Bear case
The earnings miss raises concerns about the company's ability to manage costs effectively, especially with inflationary pressures. Additionally, rising finished goods inventory and potential labor disruptions could impact future profitability.
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