First Majestic Silver stock faces Q3 test after output miss

First Majestic Silver is due to release its unaudited third-quarter 2026 results before the market opens on Thursday, November 5, following a production quarter marked by operational disruption. The company reported 3.4 million attributable silver ounces, equal to 72 percent of its revised 2026 guidance midpoint, in its production release.

First Majestic said a labor dispute at San Dimas affected operations for 12 days during the quarter. San Dimas produced 859,869 silver ounces, down 41 percent from a year earlier, while lower grades also affected the mine's output.

Production Pressure Meets Expansion Plans

The quarterly mix was uneven across the Mexican mines. La Encantada produced 967,067 silver ounces, up 68 percent year over year, supported by higher grades, increased ore processing and improved mine development. Santa Elena produced 368,333 silver ounces and 18,489 gold ounces, both below the prior-year quarter.

Los Gatos contributed 1,245,178 attributable silver ounces. First Majestic holds a 70 percent interest in the Los Gatos joint venture and said it continues to target higher mill throughput during the second half of 2026.

Management also said that the Santa Elena and Los Gatos expansion projects were advancing, while preparations continued for a restart of the Jerritt Canyon gold mine in Nevada in the second half of 2027. The November 5 conference call is scheduled for 9:00 a.m. Pacific time, or 11:00 a.m. Eastern time.

First Majestic Silver stock traded at 13.72 euros on Lang & Schwarz at 23:00 CET on Wednesday, November 4. Investors can follow the real-time quote of First Majestic Silver stock.

Mining Focus In Mexico And Nevada

First Majestic Silver is a Canadian mining company headquartered in Vancouver that explores, develops and operates mineral properties focused on silver and gold. Its producing assets are four underground mines in Mexico, while its portfolio also includes the Jerritt Canyon gold mine in the United States and other development and exploration assets.

The company also operates First Mint, a facility that sells part of its silver production as bars, ingots, coins and medallions. Its operating profile combines Mexican silver production with a Nevada restart project and exploration activity across its mining portfolio.

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