First Majestic Silver Corp. (NYSE:AG) shares traded lower Tuesday after the company reported first-quarter 2026 results, with silver and gold production tracking toward full-year guidance.
Revenue surged 95% year over year to $476.7 million, driven by higher realized silver and gold prices, while holding back $63.6 million in bullion inventory.
The company said revenue growth was supported by a 161% increase in realized silver prices and an 81% rise in realized gold prices, along with stronger sales volumes from key mines including La Encantada, Santa Elena and Los Gatos. The quarter also included $63.6 million in silver and gold held in inventory.
Production And Costs
Silver production totaled 3.5 million ounces, down slightly from 3.7 million ounces a year earlier and representing 26% of the midpoint of the company’s 2026 guidance.
Gold …