First Majestic Q4 Silver-Equivalent Production Rises Sequentially
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First Majestic Silver Corp. AG announced that its total production reached 5.7 million silver-equivalent (AgEq) ounces in the fourth quarter of 2024. The figure consists of 2.4 million silver ounces and 39,506 gold ounces.AgEq ounces produced moved up 4% from the third quarter of 2024. The increase was driven by a 20% sequential rise in silver production and growth across the company’s three operating mines.First Majestic’s Mine Performance in Q4In the fourth quarter of 2024, the San Dimas mine produced 2,235,407 AgEq ounces, consisting of 1,191,893 ounces of silver and 12,264 ounces of gold, marking a 14% sequential increase and a 3% decrease, respectively.The Santa Elena mine produced 2,719,702 AgEq ounces, consisting of 406,009 ounces of silver and 27,216 ounces of gold. The silver production marked an 8% increase from the third quarter of 2024, whereas the gold production was fairly flat sequentially.Lastly, La Encantada produced 755,963 ounces of silver, up 39% from the third quarter of 2024. The upside was driven by higher silver grades and silver recovery.AG’s Performance in 2024Total production for 2024 came in at 21.7 million AgEq ounces, consisting of 8.4 million silver ounces and 156,542 gold ounces. The AgEq ounces produced marked a 19% fall from the 2023 actual. However, the total production came within the company’s revised guidance of 21.4-22.6 million AgEq ounces.The Santa Elena mine produced an annual record of 10.3 million AgEq ounces in 2024, up 7% from 2023.First Majestic Stock’s Price PerformanceAG shares have gained 7.4% in the past year compared with the industry's 42.8% growth.Image Source: Zacks Investment ResearchAG’s Zacks Rank & Stocks to ConsiderFirst Majestic currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, Fortuna Mining Corp. FSM and Equinox Gold Corp. EQX. CRS sports a Zacks Rank #1 (Strong Buy) at present, and FSM and EQX carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Carpenter Technology has an average trailing four-quarter earnings surprise of 14.1%. The Zacks Consensus Estimate for CRS’s fiscal 2025 earnings is pegged at $6.61 per share. Its shares skyrocketed 162.7% last year.Fortuna Mining has an average trailing four-quarter earnings surprise of 53.6%. The Zacks Consensus Estimate for FSM’s 2024 earnings is pegged at 48 cents per share. FSM’s shares gained 26.5% last year.Equinox Gold has an average trailing four-quarter earnings surprise of 39.2%. The Zacks Consensus Estimate for EQX’s 2024 earnings is pegged at 43 cents per share. EQX’s shares gained 9.6% last year.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Fortuna Mining Corp. (FSM): Free Stock Analysis Report First Majestic Silver Corp. (AG): Free Stock Analysis Report Equinox Gold Corp. (EQX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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