We recently published 10 Stocks Outrunning the Market; 3 on a High. First Majestic Silver Corp. (NYSE:AG) was one of the best performers on Friday.
First Majestic rallied for a third consecutive day on Friday, jumping 11.18 percent to close at $27.55 apiece, as investor optimism was supported by an investment firm’s 22-percent price target upgrade for its stock.
In a market report, HC Wainwright raised its price target for First Majestic Silver Corp. (NYSE:AG) to $30 from $24.50 previously, while maintaining a “buy” recommendation.
This followed the silver producer’s earnings performance last year, having returned to profitability, with net income hitting $211 million, reversing a $101.9 million net loss in 2024.
First Majestic Silver Corp. (NYSE:AG) said that the strong performance was primarily driven by a $358.1 million increase in mine operating income, a non-cash deferred income tax recovery of $89.1 million, and an impairment reversal of $20.3 million in relation to the sale of the Del Toro Silver Mine.
Meanwhile, total revenues more than doubled to $1.257 billion from $560.6 million in 2024, on the back of a 47 percent jump in average realized silver prices.
In the fourth quarter alone, net income stood at $105.2 million, reversing a $13.5 million net loss in the same quarter in 2024. Revenues surged by 169 percent to $463.9 million from $172.3 million year-on-year.
In line with the results, First Majestic Silver Corp. (NYSE:AG) announced the distribution of $0.0083 in dividends for each common share held to all shareholders on record as of February 27, payable on March 16, 2026.
By June 2026, the dividends will increase to a 2-percent equivalent of its net quarterly revenues.
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Disclosure: None. This article is originally published at Insider Monkey.
