First Majestic Silver Corp. (AG) Bundle
A Brief History of First Majestic Silver Corp. (AG)
Company Overview
First Majestic Silver Corp. (AG) is a publicly traded silver mining company headquartered in Vancouver, Canada. Traded on the NYSE and TSX stock exchanges.
Financial Performance
| Fiscal Year | Revenue | Net Income | Silver Production |
|---|---|---|---|
| 2023 | $679.4 million | $54.2 million | 24.1 million silver equivalent ounces |
| 2022 | $631.8 million | $42.6 million | 22.7 million silver equivalent ounces |
Mining Operations
- Total of 7 producing silver and gold mines in Mexico
- San Dimas Mine (Durango, Mexico)
- Santa Elena Mine (Sonora, Mexico)
- La Encantada Mine (Coahuila, Mexico)
- Del Toro Mine (Zacatecas, Mexico)
- La Parrilla Mine (Durango, Mexico)
Stock Performance
NYSE ticker: AG
Market Capitalization (2024): $1.8 billion
52-week stock price range: $6.12 - $12.84
Operational Metrics
| Metric | 2023 Value |
|---|---|
| Total Proven & Probable Reserves | 239.4 million silver equivalent ounces |
| All-in Sustaining Cost (AISC) | $15.50 per silver equivalent ounce |
| Average Silver Grade | 274 g/t |
A Who Owns First Majestic Silver Corp. (AG)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| Van Eck Associates Corp | 8,737,136 | 9.67% |
| Sprott Inc. | 6,221,500 | 6.88% |
| Royal Bank of Canada | 4,356,241 | 4.82% |
| CIBC World Markets Inc. | 3,788,525 | 4.19% |
Insider Ownership
Keith Neumeyer, President and CEO, owns 3,150,000 shares directly.
Public Float
Total public float: 90,363,900 shares
Significant Shareholders
- Van Eck Associates Corp: 9.67%
- Sprott Inc.: 6.88%
- Royal Bank of Canada: 4.82%
- CIBC World Markets Inc.: 4.19%
Ownership Structure
Total outstanding shares: 103,718,900
Institutional ownership percentage: 42.3%
First Majestic Silver Corp. (AG) Mission Statement
Corporate Overview
First Majestic Silver Corp. is a silver mining company headquartered in Vancouver, Canada, with operations primarily in Mexico. As of 2024, the company operates six silver and gold producing mines.
| Metric | Value |
|---|---|
| Market Capitalization | $1.84 billion |
| Total Silver Production (2023) | 11.8 million ounces |
| Total Gold Production (2023) | 52,265 ounces |
Mission Statement Components
- Sustainable and responsible silver and gold mining
- Maximizing shareholder value
- Environmental stewardship
- Community engagement and development
Operational Strategy
Key Strategic Objectives:
- Optimize existing mine operations
- Explore and develop new mining properties
- Maintain low-cost production profile
- Implement advanced technological solutions
| Mine | Location | Production Status |
|---|---|---|
| San Dimas | Durango, Mexico | Active |
| Santa Elena | Sonora, Mexico | Active |
| La Encantada | Coahuila, Mexico | Active |
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Revenue | $528.3 million |
| Net Income | $37.2 million |
| Cash Cost per Silver Ounce | $8.53 |
How First Majestic Silver Corp. (AG) Works
Company Overview
First Majestic Silver Corp. is a Canadian silver mining company headquartered in Vancouver, British Columbia. As of 2024, the company operates multiple silver and gold mines in Mexico.
Mining Operations
| Mine Name | Location | Type of Metal | Annual Production (2023) |
|---|---|---|---|
| San José Mine | Durango, Mexico | Silver/Gold | 10.3 million silver equivalent ounces |
| La Encantada Mine | Coahuila, Mexico | Silver | 6.4 million silver ounces |
| La Parrilla Mine | Durango, Mexico | Silver | 4.5 million silver equivalent ounces |
Financial Performance
Financial highlights for the fiscal year 2023:
- Total revenue: $536.7 million
- Net income: $42.3 million
- Silver production: 25.7 million ounces
- Cash cost per silver ounce: $10.56
Operational Metrics
Key operational statistics for 2023:
- Total processed ore: 2.76 million tonnes
- Average silver grade: 145 g/t
- Average gold grade: 1.2 g/t
- Recovery rate: 87.5%
Stock Information
| Stock Exchange | Ticker Symbol | Market Capitalization (2024) | Share Price (February 2024) |
|---|---|---|---|
| NYSE | AG | $1.2 billion | $8.45 |
Environmental and Sustainability Initiatives
Sustainability investments in 2023: $24.6 million
- Carbon reduction projects: $7.2 million
- Water management: $5.4 million
- Community development: $3.9 million
How First Majestic Silver Corp. (AG) Makes Money
Silver and Gold Production
First Majestic Silver Corp. generates revenue through the exploration, production, and sale of silver and gold from its mining operations in Mexico.
| Metric | 2022 Production | 2023 Production |
|---|---|---|
| Silver Production | 15.8 million ounces | 14.1 million ounces |
| Gold Production | 48,246 ounces | 43,824 ounces |
Operating Mines
- San Martin Mine
- Del Toro Mine
- La Encantada Mine
- La Parrilla Mine
- Santa Elena Mine
Financial Performance
| Financial Metric | 2022 Amount | 2023 Amount |
|---|---|---|
| Revenue | $579.5 million | $521.3 million |
| Net Income | $37.6 million | $12.4 million |
| Average Silver Price | $21.41 per ounce | $23.50 per ounce |
Cost Structure
All-in sustaining cost (AISC) for silver production in 2023: $15.50 per ounce.
Sales Breakdown
| Product | Percentage of Revenue |
|---|---|
| Silver | 74% |
| Gold | 20% |
| Lead and Zinc | 6% |
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