Seeking Alpha

First Majestic hits output record, announces spin-out of non-core properties

  • First Majestic Silver (AG -5.1%) says production at its five operating silver mines in Mexico hit a record of ~3.86M silver equiv. oz. in Q2, up 18% Y/Y.
  • Total ore processed at the five mines was ~671K metric tons, up 5% Q/Q but flat Y/Y; average silver grades rose 6% Y/Y to 212 g/ton and were relatively consistent with the previous quarter.
  • Announces a spin-out of non-core exploration properties to Sundance Minerals.
Comments (3)
  • asegalas
    , contributor
    Comment (1) | Send Message
    For such a well-managed company, the stock acts like crap
    14 Jul, 01:41 PM Reply Like
  • Long and Strong
    , contributor
    Comments (6) | Send Message
    If silver acts like crap, most silver company's stocks act like crap. I think silver can break 25 before the end of the year and this should take this sleeper close to 20. Pretty sure that nobody gives a rip about the spin-off right now, but once the junior companies get a bid it might be worth something.
    14 Jul, 03:39 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5448) | Send Message
    Don't forget (NYSE:AG)'s hint at a possible dividend down the road.
    14 Jul, 09:49 PM Reply Like
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