Key Highlights

• From Loss to $211 Million Profit: First Majestic swung to a full-year profit of $211 million in its most recent fiscal year, a dramatic reversal from a $101.9 million loss in 2024.

• Record Q4 Revenue Growth: The company posted record Q4 revenue of $463.9 million, up 169% year-over-year, driving the full-year turnaround.

• Strong Balance Sheet Supports Confidence: First Majestic ended the year with $937.7 million in cash, with H.C. Wainwright maintaining a Buy rating and $30 price target.

First Majestic Silver (NYSE: AG) continues to draw significant analyst and investor attention following one of the more dramatic earnings turnarounds among precious metals miners in recent quarters. While today's broader price action reflects the ongoing rally across gold and silver markets, the company's underlying fundamental transformation over the past year provides important context for why analysts remain particularly bullish on the stock.

The turnaround was driven primarily by exceptional fourth-quarter performance. First Majestic reported record quarterly revenue of $463.9 million, representing growth of 169% year-over-year, a dramatic acceleration that reflected both higher silver production volumes and a favorable pricing environment for the metal during the period. That single quarter's performance played an outsized role in reshaping the company's full-year financial results.

The scale of the turnaround becomes particularly clear when comparing full-year results. First Majestic swung to a full-year profit of $211 million, a stark reversal from the $101.9 million loss the company reported in 2024. That shift from a significant loss to substantial profitability within a single fiscal year represents a meaningful inflection point in the company's financial trajectory and has become a central pillar of the bullish investment case for the stock.

Supporting this improved profitability, First Majestic ended the year with a robust $937.7 million in cash on its balance sheet, providing the company with substantial financial flexibility. That strong liquidity position gives management significant optionality for future capital allocation decisions, whether directed toward continued operational investment, exploration, or potential shareholder returns.

Reflecting confidence in this dramatic improvement, H.C. Wainwright maintained a Buy rating on the stock following the results, alongside a price target of $30. Investors will likely continue monitoring whether First Majestic can sustain this level of revenue growth and profitability into subsequent quarters, particularly as the broader silver price environment continues to evolve amid shifting Fed policy expectations.

 

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