First Majestic Silver reports earnings before the market opens on November 5, 2026, for the quarter ended September 30. The EPS estimates don’t agree: one calendar lists C$0.17 per share, while an earnings-trends feed shows C$0.40 from two analysts, up from C$0.37 a month ago. Check your preferred data source before relying on either figure.
First Majestic Silver Corp (TSX: AG; AG.TO) operates silver mines in Mexico, including Los Gatos, San Dimas, Santa Elena and La Encantada. The company also operates the U.S.-based First Mint. This report will show whether recent production and revenue growth translated into earnings. For company details and coverage, see the First Majestic Silver stock page.
Recent earnings trend
First Majestic Silver Corp
AG.TO
AG.TO
First Majestic Silver Corp
WealthAwesomeMarket cap
$9.88B
P/E
20.7x
Div. yield
0.23%
Div. / share
$0.05
52W high
$43.62
52W low
$15.09
1W change
-3.70%
Beta
2.19
Analyst Price Targets
Based on analyst covering AG · as of Oct 21, 2026
Wall Street analysts forecast AG stock price to rise 72.2% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$34.50
+72.2% Upside
Previously C$34.75 on Sep 23, 2026
Current Price
C$20.04
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on AG's historical volatility
30-Day Vol
55.4%
Annualized
90-Day Vol
60.6%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$16.54
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$18.63 | C$15.38 – C$22.55 |
| 60 trading days | C$17.55 | C$13.39 – C$23.00 |
| 90 trading days | C$16.54 | C$11.87 – C$23.03 |
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: 2 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 | 2026-11-05 | — | 0.1700 | — |
| 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% |
Investor takeaway: This report is a test of earnings delivery, not just exposure to silver prices. First Majestic beat estimates in one of its last four reported quarters and missed in the other three. Its two most recent misses were 14.29% and 2.33%. The earnings-trends feed points to a sharp year-over-year increase from C$0.10 per share, but its consensus differs substantially from the calendar estimate. That feed has no revenue consensus, so investors will need to assess the reported results and management’s comments on operations without a reliable revenue benchmark.
1 of the last 4 comparable quarters beat estimates
First Majestic reported EPS of C$0.30 for the quarter ended June 30, 2026, below the C$0.35 estimate. The company also missed estimates in March and September 2025, but beat them in December 2025. Its longer record includes 57 quarters with actual and estimated results, though recent performance has been mixed. The automatically inserted earnings table and chart show the quarter-by-quarter record.
Bull case
The earnings-trends feed’s C$0.40 consensus would mean EPS growth of 301.2% from C$0.10 a year earlier, if the estimate is the right one to compare. The consensus has risen from C$0.37 over the past month, though analyst revisions were split: one raised an estimate and one lowered it. Recent company coverage also cited 76% year-over-year growth in silver production and record revenue, up 94%. If higher production and realized prices lifted earnings in the September quarter, the results would support the growth case.
Bear case
First Majestic missed estimates in three of its last four reported quarters. In June 2026, it reported EPS of C$0.30 against an estimate of C$0.35. The September-quarter estimates also conflict: the calendar lists C$0.17, while the earnings-trends feed gives C$0.40 based on two analysts. That makes it harder to judge whether the company beat or missed expectations.
The stock closed at C$20.04, below its 50-day and 200-day moving averages, and was down 20.41% over the past month. Silver miners also face operating-cost and execution risks, not just changes in metal prices. The information provided doesn’t include estimates for the quarter’s costs or margins.
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