First Majestic Reports Q3 2026 Production Results, Announces Q3 Conference Call Details and Renewal of Share Repurchase Program
Original announcement by newsfile on
- Company
- First Majestic Silver Corp.
- Ticker
- AG
- Exchange
- Unavailable
- Region
- Mexico
- Primary commodity
- Silver
- Secondary commodities
- Gold, Zinc, Lead, Copper
- Document categories
- Production, Drill results
- Extracted
- 2026-10-08 11:20:51 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
First Majestic reported Q3 2026 production results showing a decline in silver and gold ounces produced compared to Q3 2025, largely due to a 12-day labour dispute at the San Dimas mine. While silver production reached 72% of guidance, the company also announced the renewal of its share repurchase program and progress on the Jerritt Canyon restart.
Reasoning: Production results show a decline in key precious metal ounces (silver and gold) compared to the previous year, primarily driven by labour disruptions at the San Dimas mine, despite increases in ore throughput.
Positive factors
- Ore processed increased 9% Y/Y
- La Encantada silver production increased 68% Y/Y
- Safety performance remains strong (TRIFR 0.61)
Negative factors
- Silver production reached only 72% of guidance midpoint
- Gold production reached 75% of guidance midpoint
- Labour dispute at San Dimas impacted operations by 12 days
- Overall silver ounces produced decreased 11% Y/Y
Facts used in scoring: 5
Classification and evidence
Production Declinenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: Silver and gold production decreased year-over-year.
Evidence · table
“(11)%”
Context: 3,440,447
Labour Disputenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: A labour dispute at San Dimas impacted operations by 12 days.
Evidence · text
“labour dispute at San Dimas, which impacted the operations by 12 days”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Drill Results (5)
Fact 1silverGrade: 3440447Grade Unit: ozIntercept: 3440447 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Commodity
- silver
- Region
- mexico
- Reported Region
- mexico
- Ticker
- AG
Geometry
- Grade
- 3440447
- Grade Unit
- oz
- Intercept
- 3440447 m
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- low_confidence
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Silver production declined 11% compared to Q3 2025.
Negative factors
- 11% decrease year-over-year
Evidence · table
“3,440,447”
Context: 1,088,708
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 2goldGrade: 29552Grade Unit: ozIntercept: 29552 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Commodity
- gold
- Region
- mexico
- Reported Region
- mexico
- Ticker
- AG
Geometry
- Grade
- 29552
- Grade Unit
- oz
- Intercept
- 29552 m
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- low_confidence
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Gold production declined 17% compared to Q3 2025.
Negative factors
- 17% decrease year-over-year
Evidence · table
“29,552”
Context: 3,440,447
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 3zincGrade: 13277264Grade Unit: lbsIntercept: 13277264 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Commodity
- zinc
- Region
- mexico
- Reported Region
- mexico
- Ticker
- AG
Geometry
- Grade
- 13277264
- Grade Unit
- lbs
- Intercept
- 13277264 m
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- low_confidence
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Zinc production declined 4% compared to Q3 2025.
Negative factors
- 4% decrease year-over-year
Evidence · table
“13,277,264”
Context: 29,552
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 4leadGrade: 7839182Grade Unit: lbsIntercept: 7839182 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Commodity
- lead
- Region
- mexico
- Reported Region
- mexico
- Ticker
- AG
Geometry
- Grade
- 7839182
- Grade Unit
- lbs
- Intercept
- 7839182 m
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- low_confidence
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Lead production increased 2% compared to Q3 2025.
Positive factors
- 2% increase year-over-year
Evidence · table
“7,839,182”
Context: 13,277,264
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 5copperGrade: 221111Grade Unit: lbsIntercept: 221111 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Commodity
- copper
- Region
- mexico
- Reported Region
- mexico
- Ticker
- AG
Geometry
- Grade
- 221111
- Grade Unit
- lbs
- Intercept
- 221111 m
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- low_confidence
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Copper production declined 8% compared to Q3 2025.
Negative factors
- 8% decrease year-over-year
Evidence · table
“221,111”
Context: 7,839,182
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.