➡ First Majestic Silver had a successful third quarter, with record silver production up 96% compared to last year. They produced 3.9 million silver ounces and over 35,000 ounces of gold. Their revenue for the quarter was $285.1 million, a 95% increase from the same period last year, mainly due to a 45% increase in silver sales and a 31% increase in the average silver price. The company’s operating earnings also increased significantly, reaching $99.1 million.

Well hello there my friends Chris Marcus here with you for Arcadia Economics and just a quick update as we did have earnings out from First Majestic Silver this week as they had their earnings from the third quarter and just wanted to walk you through the highlights because as you can imagine between the deal for Gato Silver and the incredible silver rally that we’ve been experiencing it was indeed a good third quarter for First Majestic and let us dig into the highlights where we had record quarterly silver production up 96% year over year again all these year over year comparisons are before Gatos was incorporated so obviously there’s gonna be a natural jump but still you can see the difference in the way the company stacked up today versus then as I mentioned a couple weeks ago in their production numbers they had 3.9 million silver ounces and also 35,681 ounces of gold they also had record quarterly revenue in the third quarter at 285.1 million 56% of that coming from silver sales and a 95% increase over the 146.1 million that they had in the third quarter of 2024 and you can see here they mentioned this was attributed to a 45% increase in the silver equivalent payable ounces sold and also a 31% increase in the average realized silver price which reached thirty nine dollars and three cents throughout the quarter obviously as I’m sure you’re well aware we have an even higher silver price so far throughout the fourth quarter oh almost uh not quite halfway through the fourth quarter but obviously we had a couple days over 50 and been sitting in the high 40s so of course encouraging news for the next quarter when we get those results but back to today total revenue for the quarter excluded seven hundred fifty eight thousand three hundred thirty three ounces of silver and just under four thousand ounces of gold that were held in inventory with a fair value of fifty point three million mine operating earnings were up 70.6 million year over year at ninety nine point one million versus twenty eight point five million in the third quarter of 2024 operating cash flow before changes in working capital and taxes was a record at 141.3 million or 29 cents per share they also had a record cash position at 568.8 million which breaks down to 435.4 million in cash and cash equivalents 133.4 million in restricted cash and their liquidity reached 682 million which consists of 542.4 million of working capital and 139.6 million of an undrawn revolving credit facility and here we see record earnings before income tax depreciation and amortization also commonly known as EBITDA at 91.7 million up 91.7 million to 128.6 million versus 39 36.9 million last year in the third quarter of course a key one net earnings here we see came in at 43 million for an earnings per share of six cents compared to a loss back in the third quarter of 2024 as they were still turning things around and also that net earnings did not include 56.6 million in unrealized gains from the portfolio of marketable securities so something to factor in there record free cash flow was up 67.5 million year over year to a quarterly record of 98.8 million versus 31.3 million so obviously an important metric there cash costs down two percent year over year from 15.17 cents to 14.83 improvement in all and sustaining costs too where you had a one percent decrease from 2103 to 2090 and they’re also increasing the amount of silver they are selling through the first mint up to 11.1 million versus 2.7 million last year and actually did see some of the first mint guys at the new orleans show this week and i know they’re excited about increasing the amount of silver that they’re selling through there as opposed to putting it through the system and then finally we have a cash dividend of 0.0052 cents per common share so there are your third quarter results from first majestic in addition to the financials there obviously they also have their expiration efforts ongoing and for a quick recap of some of the latest results they came back with there well that one’s coming your way now
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