# First Majestic Reports Q3 2026 Production Results, Announces Q3 Conference Call Details and Renewal of Share Repurchase Program Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/first-majestic-reports-q3-2026-production-results-announces-q3-conference-call-d--1a095f73-95f0-42e6-867b-63f49d1d656c Original source: https://www.newsfilecorp.com/release/318032/First-Majestic-Reports-Q3-2026-Production-Results-Announces-Q3-Conference-Call-Details-and-Renewal-of-Share-Repurchase-Program Publisher: newsfile Original announcement: 2026-10-08T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-08T11:20:50.703Z Atlas analysis updated: 2026-10-08T11:20:50.703Z - 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 Narrative sentiment: -0.30 · Bearish ## Minestarters Atlas 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 factor: Ore processed increased 9% Y/Y - Positive factor: La Encantada silver production increased 68% Y/Y - Positive factor: Safety performance remains strong \(TRIFR 0.61\) - Negative factor: Silver production reached only 72% of guidance midpoint - Negative factor: Gold production reached 75% of guidance midpoint - Negative factor: Labour dispute at San Dimas impacted operations by 12 days - Negative factor: Overall silver ounces produced decreased 11% Y/Y Facts used in scoring: 5 ## Classification and evidence **Production Decline** Polarity: negative Story-specific tag Definition: 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 Dispute** Polarity: negative Story-specific tag Definition: 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 1 [Link to this fact](https://atlas-staging.minestarters.com/news/first-majestic-reports-q3-2026-production-results-announces-q3-conference-call-d--1a095f73-95f0-42e6-867b-63f49d1d656c#fact-drill-facts-0) silver Needs review: drill\_no\_hole\_id #### 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 factor: 11% decrease year-over-year Evidence · table > 3,440,447 Context: 1,088,708 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/first-majestic-reports-q3-2026-production-results-announces-q3-conference-call-d--1a095f73-95f0-42e6-867b-63f49d1d656c#fact-drill-facts-1) gold Needs review: drill\_no\_hole\_id #### 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 factor: 17% decrease year-over-year Evidence · table > 29,552 Context: 3,440,447 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/first-majestic-reports-q3-2026-production-results-announces-q3-conference-call-d--1a095f73-95f0-42e6-867b-63f49d1d656c#fact-drill-facts-2) zinc Needs review: drill\_no\_hole\_id #### 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 factor: 4% decrease year-over-year Evidence · table > 13,277,264 Context: 29,552 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/first-majestic-reports-q3-2026-production-results-announces-q3-conference-call-d--1a095f73-95f0-42e6-867b-63f49d1d656c#fact-drill-facts-3) lead Needs review: drill\_no\_hole\_id #### 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 factor: 2% increase year-over-year Evidence · table > 7,839,182 Context: 13,277,264 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/first-majestic-reports-q3-2026-production-results-announces-q3-conference-call-d--1a095f73-95f0-42e6-867b-63f49d1d656c#fact-drill-facts-4) copper Needs review: drill\_no\_hole\_id #### 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 factor: 8% decrease year-over-year Evidence · table > 221,111 Context: 7,839,182 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: 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.