Seeking Alpha

First Majestic Silver reports record 2013 production, eyes 2014 gains

  • First Majestic Silver (AG +0.4%) says its preliminary 2013 production shows record operating performance across its five mines in Mexico.
  • Total production reached a record of nearly 12.8M equiv. oz. of silver, a 41% Y/Y increase and in line with previous guidance, which includes ~10.6M oz. of pure silver; Q4 production also reached new quarterly records of ~3.4M equiv. oz. of silver and nearly 2.75M oz. of silver.
  • For 2014, AG anticipates silver production will increase 19%-25% to 12.7M-13.35M oz., or 14.85M-15.6M silver equiv. oz.
Comments (3)
  • sheeple123jump
    , contributor
    Comments (344) | Send Message
     
    RECORD PRODUCTION REPORTED, AND SHARE PRICE PLUNGES 4.63 % on the day
    15 Jan 2014, 01:20 AM Reply Like
  • 6151621
    , contributor
    Comments (1180) | Send Message
     
    This was clearly bad news for the stock, as it way underperformed today--off 4.6% much worse than most other pm miners.
    15 Jan 2014, 02:38 AM Reply Like
  • 8068381
    , contributor
    Comments (6) | Send Message
     
    Despite company strengths, price movements currently being largely correlated with silver/gold prices.
    20 Jan 2014, 09:41 AM Reply Like
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