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AG

First Majestic SilverB
NYSE / Materials
Last Price
Quote time unavailable
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Current thesis
Higher realized metal prices supported Q2 revenue of $415.5 million and free cash flow of $194.6 million. A San Dimas recovery, sustained mine expansions and a credible Jerritt Canyon study could improve the outlook.
Posture
Constructive
Lead driver
Value
What changed
Value remains the lead driver in the composite, 7D delta +0.9.
What can break
Higher cash costs and all-in sustaining costs could erode gains from metal prices; Q2 costs were affected by operating disruptions, the stronger Mexican peso and other expenses. #PR-2026-Q2-RESULTS
Momentum
13
Value
66
Sentiment
56
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $14.00 · Bull $19.00 · Bear $11.50Analysis 2026-10-15; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-10-23 • Vendor: Data Vendor v1
Scores
As of 2026-10-23 • Model: HYBRID_IC_RP
AI Memo
As of 2026-10-15 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-10-23

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-10-23. Definitions

Supporting evidence
What
Grade B · Constructive
Confidence Medium · Net Neutral
Target $24.27
Why
Momentum13 · Δ7d -10.6
Value66 · Δ7d +0.9
Sentiment56 · Δ7d +9.0
So what
Strength-led posture (Net Neutral). Favor watchlist adds and disciplined entries.

Confirming evidence

  • • Value remains the lead driver in the composite, 7D delta +0.9.

Contradictions & invalidation

  • • Higher cash costs and all-in sustaining costs could erode gains from metal prices; Q2 costs were affected by operating disruptions, the stronger Mexican peso and other expenses. #PR-2026-Q2-RESULTS
  • • The Mexico tax settlement is not final; arbitration may resume. Jerritt Canyon's study may reveal weaker restart economics or higher capital needs. #PR-2026-10-13-NAFTA #PR-2026-04-02-JERRITT
  • • Q3 output declined despite increased ore processed: lower grades affected multiple mines, while the San Dimas labour dispute remains a forward risk.

Catalyst clock

2026-11-05

November 5 Q3 financial results

Lead driver: Value · See fundamentals
Momentum
13
8% active weight
Current posture
7d trendSoftening
Δ7d
-10.6
Δ21d
-43.7
Value
66
47% active weight
Current posture
7d trendFlat
Δ7d
+0.9
Δ21d
+2.8
Sentiment
56
45% active weight
Current posture
7d trendImproving
Δ7d
+9.0
Δ21d
-18.2
Why this grade

Composite grade B. Momentum 12.7 / Value 66.2 / Sentiment 55.9

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-10-15. Scenario method

B+
Bull case
25%
Probability
Target price
$19.00
Analysis reference price unavailable
Analysis 2026-10-15 · RankAlpha Sentiment Codex
Most likely
B
Base case
45%
Probability
Target price
$14.00
Analysis reference price unavailable
Analysis 2026-10-15 · RankAlpha Sentiment Codex
B-
Bear case
30%
Probability
Target price
$11.50
Analysis reference price unavailable
Analysis 2026-10-15 · RankAlpha Sentiment Codex
Fundamentals (TTM)
As of 2026-10-23
Market Cap
$7.28B
Beta
1.52
Shares Out
492.91M
P/E (TTM)
139.0
P/S (TTM)
8.67
P/FCF (TTM)
58.44
Rev YoY
+57.2%
EPS YoY
+104.8%
Gross Margin
+49.6%
Op Margin
+44.0%
Net Debt
-$665.08M
Current Ratio
2.57
As of 2026-10-23 • Updated nightlySource: Internal modelMethods & Data