First Majestic Silver AG
CanadaBasic Materials · SilverUSD
24.75 USD (+48.6%)
2 analysts
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First Majestic Silver Corp. is a Canadian mining company dedicated to the extraction, development, and production of silver, with operations mainly in Mexico.
Key points
from its scores- ✓Very solid balance sheet9.3
- ✓Good share-price trend8.2
- ✓High-quality business7.9
- ✕Unfavourable risk and backdrop1.1
- ✕Little or no dividend2.5
AI analysis
bottom line, main risk, context and newsThe solid financial position and positive momentum (8.25) are offset by the potential reversal of the silver cycle and pressure from a strong dollar.
First Majestic shows excellent financial health (9.26) with net cash and an operating margin of 47.79%, but its 102.4% earnings growth reflects a peak cycle in precious metals that could reverse with falling gold and a strong dollar.
Dependence on the silver price, which is under pressure from a strong dollar and falling gold, could reverse current growth and affect valuation.
Context and risks
First Majestic is a silver producer with operations in Mexico, a country with institutional and governance risk that can affect operations and profit repatriation. The strong dollar appreciation and falling gold pressure the silver price, although the company maintains a healthy balance sheet with net cash.
Is First Majestic Silver stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades in line with the Basic Materials median (within 15%).
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 23.8 | 19.2 | +24% |
| EV / EBITDA | 8.2 | 10.0 | −18% |
| Price / book | 2.8 | 2.3 | +22% |
| Price / sales | 5.0 | 2.2 | +127% |
Sector: median of the 141 Basic Materials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.2 out of 10 (median for Basic Materials: 5.8).
Average analyst target: 24.75 USD, +48.6% versus the price.
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Basic Materials medianValuation
- P/E
- 23.8
- Forward P/E
- 16.9
- EV / EBITDA
- 8.2
- Price / book
- 2.8
- Price / sales
- 5.0
- PEG
- 0.48
- Market cap
- 8.2B USD
- Enterprise value
- 7.7B USD
Profitability
- ROE
- 13.4%
- ROA
- 10.2%
- ROIC (approx.)
- 23.8%
- Gross margin
- 63.3%
- Operating margin
- 47.8%
- Net margin
- 21.2%
- Free cash flow
- 775.1M USD
- FCF yield
- 9.4%
- Cash conversion
- 82%
Solvency
- Total debt
- 331.1M USD
- Net debt
- −917.3M USD
- Cash
- 1.2B USD
- EBITDA
- 942.2M USD
- Net debt / EBITDA
- −0.97
- Debt / equity
- 9.81
- Current ratio
- 2.57
- Quick ratio
- 2.33
Growth
- Revenue growth
- +57.3%
- Earnings growth
- +102.4%
- EPS (TTM)
- 0.70 USD
- EPS (forward)
- 0.98 USD
Dividend
- Dividend yield
- 0.4%
- Payout
- 5.1%
Risk and market
- Beta
- 2.19
- Analyst consensus
- Buy (2)
- Target price
- 24.75 USD
- 52-week range
- 10.19 – 32.04
Recent news
All AG news →Compare it with its sector
All 141 in Basic Materials →Frequently asked questions about First Majestic Silver
Is First Majestic Silver stock cheap or expensive?
On P/E and EV / EBITDA, it trades in line with the Basic Materials median (within 15%). Valuation score: 6.2 out of 10 (median for Basic Materials: 5.8). Average analyst target: 24.75 USD, +48.6% versus the price. This is not investment advice.
What score does First Majestic Silver get on MeridIAn Screener?
It scores 6.3 out of 10, rank 687 of 2,130 (better than 63% of the companies analysed). Its strongest category is Financial health (9.3) and its weakest, Risk & Context (1.1). Analysis of 08/10/2026.
What is First Majestic Silver's P/E ratio?
Its P/E is 23.8: the share price equals 23.8 times earnings per share over the last 12 months. The Basic Materials median is 19.2. Based on the earnings analysts expect, the forward P/E is 16.9.
How much is First Majestic Silver worth on the stock market?
Its market capitalisation is 8.2B USD and its enterprise value, debt included, is 7.7B USD.
How much debt does First Majestic Silver have?
It has more cash than debt: net cash of 917.3M USD.
Does First Majestic Silver pay a dividend?
Yes: its dividend yield is 0.36% and it pays out 5% of its earnings.
How has First Majestic Silver stock performed over the last year?
It has risen 26.0% over the last year, excluding dividends. Over the last 52 weeks it has traded between 10.19 and 32.04 USD. Past performance does not guarantee future results.
What do analysts think of First Majestic Silver?
2 analysts cover it; their average recommendation is “Buy” and their average target is 24.75 USD (+48.6% versus the price). It is an estimate, not market data.