FIRST MAJESTIC SILVER (AG)

Its operating base includes the Santa Elena and San Dimas silver-gold mines, the Los Gatos silver mine, and the La Encantada silver mine in Mexico. First Majestic also owns the Jerritt Canyon gold mine in Nevada, giving the group exposure to a US mining district and a larger gold component than many pure silver producers. In addition, it retains interests in assets such as San Martin and Del Toro, as well as exploration-stage projects that may support future resource growth.

The company earns revenue by selling metals contained in doré bars and concentrates. Silver is the central driver of its identity and sales mix, while gold provides a significant secondary revenue stream. Zinc, copper, and other metals can also contribute depending on mine output and concentrate grades.

First Majestic is distinctive because it offers investors direct leverage to silver prices through a producing mine base rather than through a royalty, streaming, or exploration-only model. Its results are influenced by metals prices, mine grades, processing recoveries, operating costs, Mexican mining regulation, and capital allocation decisions across both producing and development assets.