Equity Profile

AG

First Majestic Silver Corp.

MaterialsSilver$9.3B

Aug13Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

First Majestic Silver Corp. is a mining company focused on silver production, primarily operating in Mexico....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of the company's profitability and financial health, reflecting how much profit is allocated to each share.

$0.33

Silver Production Volume

This metric shows the company's operational efficiency and ability to meet market demand, directly impacting revenue.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AG Q2-2026 Earnings Preview

Context

Company Snapshot

First Majestic Silver Corp. is a mining company focused on silver production, primarily operating in Mexico. As a player in the materials sector, it is influenced by silver prices and global demand for precious metals, which can be affected by economic conditions and investor sentiment.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-92.25%

Avg Stock Reaction

-1.42%

Last Quarter Recap

In Q1 2026, First Majestic reported an EPS of $0.31, slightly below the expected $0.33, resulting in a modest stock increase of 2.67% the following day. The company continues to face challenges in meeting analyst expectations.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautious ahead of the upcoming earnings report, given the company's recent struggles to meet EPS estimates. The market is looking for signs of improvement in production and silver prices.

Bull Case

If First Majestic can report a strong EPS and improved production figures, it may signal a turnaround, leading to increased investor confidence and stock appreciation.

Bear Case

Conversely, if the company misses expectations again, it could further erode investor trust and lead to a significant decline in stock price.

Key Metrics to Watch

EPS (Earnings Per Share)

$0.33

EPS is a key indicator of the company's profitability and financial health, reflecting how much profit is allocated to each share.

Silver Production Volume

Not available

This metric shows the company's operational efficiency and ability to meet market demand, directly impacting revenue.

Silver Price Trends

Not available

The price of silver is crucial for First Majestic's revenue; fluctuations can significantly impact earnings.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed $0.33, indicating a recovery in profitability?

A positive EPS surprise could restore investor confidence and signal operational improvements.

What is the current silver production volume compared to previous quarters?

Increased production could indicate better operational efficiency and a positive outlook for revenue.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in silver prices and production efficiency, which could lead to a stronger-than-expected EPS.

Supporting Evidence

Options pricing suggests a smaller move than historical averages, indicating potential undervaluation of the stock's volatility.

Recent trends in silver prices have shown signs of recovery, which could positively impact earnings.

Key Risk

If silver prices rise significantly, it could lead to a substantial earnings beat, challenging current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is closely watching First Majestic's ability to improve profitability and production amidst fluctuating silver prices.

Bull Confirmed If

An EPS of $0.33 or higher, coupled with a significant increase in silver production.

Bear Confirmed If

An EPS below $0.31 and stagnant or declining production figures.

Pre-Earnings Positioning

Options Market

Implied Move

±3.17%

Historical Avg

±7.08%

Pricing cheap

The options market is pricing in a modest move around the earnings report, suggesting uncertainty but not extreme volatility.

Options are pricing a smaller move than the historical average, indicating a potentially undervalued setup.

Detail

ATM IV

0.7%

30d HV

71.2%

Calls (1.9M)P/C Ratio: 0.55Puts (843K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing cheap setup in Materials

n=30

Fade rate: 11 of 29 (38%)

This setup has occurred 30 times across Materials in the last 2 years. 18 of 29 (62%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 3.5%, with a raw directional average of +1.7% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Majestic beats EPS expectations, history suggests a potential stock increase of around 9.65%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await clearer signals on future performance.

Miss

A miss on EPS could lead to a decline of approximately 3.00%, reinforcing concerns about the company's operational challenges.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on silver production volume and operational efficiency.
2Any commentary on silver price trends and market outlook.
3Management's strategy for addressing recent earnings misses.
4Insights into cost management and profitability improvements.
5Future guidance on production and sales expectations.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

First Majestic Silver Corp. is a mining company focused on silver production, primarily operating in Mexico....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of the company's profitability and financial health, reflecting how much profit is allocated to each share.

$0.33

Silver Production Volume

This metric shows the company's operational efficiency and ability to meet market demand, directly impacting revenue.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AG Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-92.25%

Avg Stock Reaction

-1.42%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If First Majestic can report a strong EPS and improved production figures, it may signal a turnaround, leading to increased investor confidence and stock appreciation.

Bear Case

Conversely, if the company misses expectations again, it could further erode investor trust and lead to a significant decline in stock price.

Key Metrics to Watch

EPS (Earnings Per Share)

$0.33

EPS is a key indicator of the company's profitability and financial health, reflecting how much profit is allocated to each share.

Silver Production Volume

Not available

This metric shows the company's operational efficiency and ability to meet market demand, directly impacting revenue.

Silver Price Trends

Not available

The price of silver is crucial for First Majestic's revenue; fluctuations can significantly impact earnings.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed $0.33, indicating a recovery in profitability?

A positive EPS surprise could restore investor confidence and signal operational improvements.

What is the current silver production volume compared to previous quarters?

Increased production could indicate better operational efficiency and a positive outlook for revenue.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in silver prices and production efficiency, which could lead to a stronger-than-expected EPS.

Supporting Evidence

Options pricing suggests a smaller move than historical averages, indicating potential undervaluation of the stock's volatility.

Recent trends in silver prices have shown signs of recovery, which could positively impact earnings.

Key Risk

If silver prices rise significantly, it could lead to a substantial earnings beat, challenging current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is closely watching First Majestic's ability to improve profitability and production amidst fluctuating silver prices.

Bull Confirmed If

An EPS of $0.33 or higher, coupled with a significant increase in silver production.

Bear Confirmed If

An EPS below $0.31 and stagnant or declining production figures.

Pre-Earnings Positioning

Options Market

Implied Move

±3.17%

Historical Avg

±7.08%

Pricing cheap

The options market is pricing in a modest move around the earnings report, suggesting uncertainty but not extreme volatility.

Options are pricing a smaller move than the historical average, indicating a potentially undervalued setup.

Detail

ATM IV

0.7%

30d HV

71.2%

Calls (1.9M)P/C Ratio: 0.55Puts (843K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing cheap setup in Materials

n=30

Fade rate: 11 of 29 (38%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Majestic beats EPS expectations, history suggests a potential stock increase of around 9.65%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await clearer signals on future performance.

Miss

A miss on EPS could lead to a decline of approximately 3.00%, reinforcing concerns about the company's operational challenges.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on silver production volume and operational efficiency.
2Any commentary on silver price trends and market outlook.
3Management's strategy for addressing recent earnings misses.
4Insights into cost management and profitability improvements.
5Future guidance on production and sales expectations.