First Majestic Silver Corp's recent earnings report shows a significant miss on EPS estimates, raising concerns among investors about future performance.
First Majestic Silver Corp (TSX: AG) reported its Q2 2026 earnings on July 30, 2026, with earnings per share (EPS) of $0.30, falling short of the $0.35 consensus estimate by 14.3%. Although revenue increased year-over-year, questions arise about the company's operational efficiency and growth prospects.
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
21.5x
Div. yield
0.21%
Div. / share
$0.05
52W high
$43.65
52W low
$11.06
1W change
-8.04%
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: Investors should think about the implications of the earnings miss, especially considering the company's recent performance trends and market conditions. While the long-term outlook remains positive, short-term challenges could affect stock performance.
EPS Misses Estimates by 14.3%
First Majestic's EPS of $0.30 missed estimates, despite record revenue and strong production metrics, suggesting potential underlying issues that may impact profitability.
Bull case
First Majestic has shown impressive revenue growth, with Q2 2026 revenues up 57% year-over-year, reflecting strong demand for silver. The company also has a solid treasury position, giving it financial flexibility for future investments and operations.
Bear case
The earnings miss and increased finished goods inventory due to falling silver prices indicate possible operational inefficiencies. Additionally, rising costs and labor disruptions could affect profitability in the future.
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