Post-earnings recap
Reported
Thu, Jul 30, 2026
EPS actual
$0.21
EPS est.
$0.25
EPS surprise
-16.00%
1-day move
+3.09%
First Majestic Silver Corp. reported an EPS of $0.21, which was below expectations, resulting in a 16% negative surprise. Despite this, the stock rose by 3.09%, indicating that investors may be reacting positively to other aspects of the company's performance or market conditions.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $0.21 | N/A | -16.00% |
| 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 Q1-2026, First Majestic reported an earnings per share (EPS) of $0.31, which was slightly below the expected $0.33. The stock reacted positively, gaining 2.67% the following day.
EPS beat streak
0Q
EPS beat rate
13%
Avg EPS surprise
-38.00%
Avg 1-day reaction
+0.64%
Investors are cautiously optimistic ahead of the upcoming earnings report, particularly after a mixed performance in previous quarters. The focus will be on production levels and cost management.
Bull case
If the company reports strong silver production and keeps costs low, it could lead to higher profitability and a positive stock reaction.
Bear case
Conversely, if production falls short or costs rise unexpectedly, it could further dampen investor sentiment and lead to a negative stock movement.
The print will turn on these.
Q1
What will the silver production figures be for Q2-2026?
Production levels directly impact revenue and profitability, making this a key focus for investors.
Q2
How has the cost per ounce changed in the current quarter?
Understanding cost dynamics is crucial for assessing the company's profitability in a volatile silver market.
—
Est. EPS
—
Est. Rev
—
Impl. Move
±13.6%
Why consensus could be wrong
The Street may underestimate the impact of rising silver prices on First Majestic's margins this quarter, which could lead to better-than-expected earnings.
Supporting evidence
Silver prices have shown resilience, which could positively affect revenue despite production challenges.
The company's historical ability to manage costs effectively may not be fully appreciated in current estimates.
Key risk
If silver prices rise significantly, it could lead to a substantial positive surprise in earnings.
Pre-commit to what would confirm each case.
The market is debating the company's ability to manage costs while maintaining production levels in a challenging environment.
Bull confirmed if
Silver production exceeding 2 million ounces would confirm the bull case.
Bear confirmed if
A cost per ounce increase above $15 would confirm the bear case.
What the market is pricing for the move.
Implied Move
±3.17%
Historical Avg
±5.8%
The options market is pricing in a modest move, suggesting that traders expect limited volatility around the earnings announcement.
Options are pricing ±3.2% while AG has averaged ±5.8% over the last 8 prints — setup is pricing cheap.
ATM IV
0.7%
30d HV
71.2%
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 expectations, history suggests a potential stock increase of around 9.65%, confirming bullish sentiment.
In line / cautious
If results are in line with expectations, the stock may see muted movement as investors await further clarity from management.
Miss
A miss could lead to a decline of about 3.00%, reflecting ongoing concerns about production and cost management.
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.