Post-earnings recap
Reported
Tue, May 12, 2026
EPS actual
$0.31
EPS est.
$0.33
EPS surprise
-6.06%
1-day move
+2.67%
First Majestic Silver Corp. reported an EPS of $0.31, slightly missing expectations. However, the stock reacted with no change, indicating that investors may have anticipated the results. The lack of revenue data and management commentary leaves uncertainty about future performance.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $0.31 | N/A | -6.06% |
| Revenue | N/A | N/A | N/A |
No transcript is on record, and the analysis is based on numerical results only.
First Majestic Silver Corp. is a mining company focused on the production of silver and other precious metals. Operating in the materials sector, it plays a significant role in the silver industry, which is influenced by global demand for silver in various applications, including electronics and jewelry.
Last quarter
In Q4-2025, First Majestic reported an EPS of $0.30, exceeding estimates by 11.11%. The stock reacted positively, gaining 9.65% the following day.
EPS beat streak
0Q
EPS beat rate
13%
Avg EPS surprise
-38.00%
Avg 1-day reaction
+0.64%
Overall expectations for First Majestic's upcoming earnings are mixed, with investors looking for signs of improved silver production and pricing stability.
Bull case
If silver prices rise and production increases, the company could report stronger earnings, leading to positive market sentiment.
Bear case
Conversely, if production falls short or costs rise significantly, the company may struggle to meet investor expectations, leading to a negative stock reaction.
The print will turn on these.
Q1
What is the expected silver production for Q1-2026?
Production levels are crucial for revenue generation, and any significant changes could impact investor confidence.
Q2
How have operating costs changed in relation to silver prices?
Understanding the relationship between costs and prices will help assess the company's profitability and operational efficiency.
—
Est. EPS
$-0.17
Est. Rev
$556M
Impl. Move
±11.3%
Why consensus could be wrong
The Street may underestimate the impact of rising silver prices on First Majestic's profitability, as recent trends suggest a stronger demand for silver.
Supporting evidence
Options are pricing a 10.07% move, indicating higher volatility than historical averages.
The company's recent EPS surprise of +11.11% suggests potential for positive momentum.
Previous quarters show a tendency for the stock to react positively to production increases.
Key risk
If silver prices exceed $25 per ounce, it could significantly alter the earnings outlook and investor sentiment.
Pre-commit to what would confirm each case.
The core debate this quarter revolves around production levels and cost management in a fluctuating silver market.
Bull confirmed if
A silver production increase of 15% or more compared to the previous quarter would confirm the bull case.
Bear confirmed if
If operating costs rise by more than 10% without a corresponding increase in silver prices, it would confirm the bear case.
What the market is pricing for the move.
Implied Move
±10.07%
Historical Avg
±5.8%
The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings report.
Options are pricing ±10.1% while AG has averaged ±5.8% over the last 8 prints — setup is pricing rich.
ATM IV
1.2%
30d HV
62.3%
Smart-money positioning from the most recent 13F filings.
Institutional
53.03%
of float
Insider
1.09%
of float
Holders
503
institutions
Top Holders· as of Jun 2026
Van Eck Associates Corporation
35,668,213 sh · $593.9M
7.23%
-6.2%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If First Majestic beats earnings expectations, history suggests the stock could rise by around 9.65%, confirming a positive outlook.
In line / cautious
If results are in line with expectations but management provides cautious commentary, the stock may see a muted reaction.
Miss
If the company misses earnings expectations, history suggests a potential decline of around 3.66%, indicating investor disappointment.
The lines on the call that would change the story.
Tidal Investments LLC
19,678,915 sh · $327.7M
3.99%
-6.6%
Mirae Asset Global ETFs Holdings Ltd.
16,363,904 sh · $272.5M
3.32%
-11.5%
Vanguard Capital Management LLC
13,502,343 sh · $224.8M
2.74%
1.9%
Jupiter Asset Management Limited
10,228,905 sh · $170.3M
2.07%
17.3%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.