First Majestic Silver Corp. Ordinary Shares (Canada) (AG)

FairStock Score: 50/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I want a business with durable competitive advantages and a price that leaves room for error. First Majestic is a silver and gold miner; it sells commodities at market prices, so it has little pricing power and its economics depend on metal prices and mine costs. The balance sheet is a genuine positive: debt-to-equity is only 0.10, and FairStock's Altman Z-Score is 4.17. In the latest reported quarter, fiscal Q2 2026, revenue was $414.2M and net income was $125.9M, a 30.39% net margin. Trailing free cash flow was $614.1M, about a 6.1% FCF yield against the $10.0B market cap. FairStock shows ROE 13.43% and ROCE 10.24%, which are respectable but not exceptional for a cyclical miner. At the 2026-10-13 close of $16.33, FairStock's P/E is 23.33, P/B is 2.71, and EV/EBITDA is 9.09. The PEG of 0.19 looks cheap only if the provided 56.48% revenue growth and 122.51% profit growth persist, which is not guaranteed for a commodity producer. The Graham Number of $9.74 and -67.66% margin of safety suggest the price is far above a conservative asset-based estimate. Piotroski F-Score 4/9 is middling. Beta 2.19 and a 0.31% dividend yield mean high volatility and little income cushion. The Lynch category is none because only 0 years of filed results are available, so I would not label it a proven growth story. Strong cash generation and low debt are attractive; the price already reflects a lot of optimism. I would require a wider discount or evidence of lower costs and stable reserves before calling it compelling.

In plain English: First Majestic Silver is a mining company that digs for silver and gold, mainly in Mexico. It is profitable, has little debt, and generated strong cash in its latest quarter. But its profits depend on metals prices, and the share price looks high compared with the value of its assets and a conservative estimate of its worth.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer